when Trichet decides to cut interest rates by 0.5% in his next meeting in May this should be replaced with 0.5% tax on all debt (credit cards/ mortgages/bussiness loans etc). The Burden of the debt should not be increased for anybody and this should stay static but any reductions should not be passed on either. From reading in the press there is aproximately €1.6 trillion of debt in the economy and this would bring in €2-4 billion a year on functioning debt. this money should be used to stimulate the economy in regards to business loans/ grants/ training etc get people back to work and grow businesses within the country. Banks are seen as part of the problem with economy when the housing market crashed as they lent out too much money. they need to be seen as helping with getting the economy back into shape and take some of the pain.

This post was submitted by noel.