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A plan to resolve the Eurozone debt


Use theclean energy as an exchange currency to exit the economic crisis and restore public debt. The idea is to grant territories for setting up plants a renewable energy.

In recent times, the 17 members of the European Monetary Union (Euro Zone) have been at the center of numerous debates. On the outskirts of the Euro zone we find countries like Greece, Ireland, Portugal but also Spain and Italy at risk. Leading the European Monetary Union is Germany but the austerity of its orientation towards crisis, risks further damaging the weaker countries.

Thus, the weaker members of the Monetary Union, to face the economic crisis, ask European leaders to implement more adequate emergency measures. This request was felt with the recent election of French President Francois Hollande.

The renewable energies, smart grids and sustainable innovations offer great opportunities to EU countries. The idea would be to implement a plan pro-growth tailored to the euro zone. In other words, the European Monetary Union could get out of the crisis thanks to green economy, the idea was proposed by a group of economists and industry experts.

It will be the economic development linked to green economy to solve the growing debt. Targeted investments would also give the possibility of growth to countries at risk. The sector of interest is thepower renewable, not only solar but also geothermal, biogas, wind and biomass energy. Such investments would pull countries out of the crisis and help society and the environment. The news was reported on June 4 by the Netherlands' NRC Handelsblad.

The plan would decrease the public debt of countries at risk, environmental protection would increase and also i employment rates.

Assuming an average annual inflation of 2.5%, a 30% reduction in debt should be possible. The estimate sees a modest profit of 1.5 eurocent for each kWh of power produced in the period between 2020 and 2045 with an annual production of 70 Gigawatts per square kilometer.

For example, with a debt of 40 billion euros, Ireland could give 550 square kilometers of land under concession and then create infrastructure to exploit renewable energies. 550 kilometers represent one percent of the total land area of ‚Äč‚ÄčIreland. The authors reported the estimates on Nederland Krijgt Niwuwe Energie (NKNE).

Portugal has a debt of 78 billion euros, as Ireland is supposed to grant one percent of its territory with a total of 1,000 square kilometers. For Greece, the debt amounts to 210 billion euros and the territory needed to settle its debt would amount to 2,800 square kilometers, that is 2% of the Greek national territory.

Energy projects do not necessarily have to be large-scale, local communities could also benefit from them. The study is clear, invest in renewables and use theclean energy as an exchange currency to settle the debt. Without neglecting the fact that in this direction the will of the EU to reduce carbon dioxide emissions and greenhouse gases, improve environmental sustainability, reduce the consumption of fossil fuels and create new jobs.



Video: Sarkozy and Merkel to meet on eurozone debt crisis (October 2021).