The European Central Bank is likely to announce similar drastic measures, such as the U.S. Federal Reserve is already practicing. The goal: supply the market with cheap money participants. Investors are alarmed. Because such interventions in the past always led to inflation, they seek protection in the property.
Savers in Germany look back with horror of the meeting of the European Central Bank ECB on Thursday opposed. Their concern: The monetary guardians could similarly drastic measures to draw such as their American counterparts. The U.S. Federal Reserve central bank was to finance the U.S. national debt, the note angeworfen Press. Because similar interventions in the past, always with double-digit inflation resulted in devaluation, investors now are looking desperately for protection for their capital. To see them especially in real estate. "We are seeing a big crowd," says a spokeswoman of the largest financing intermediary Interhyp. "Our employees must work overtime in order to cope with the requests."
The fear of German savers is not unreasonable. Because the ECB is under immense pressure - and the same two pages. It is next to the Norwegian central bank, the only major central bank to join the global trend towards the crisis via the press note has yet refused. In a networked world, it has the effect that the anti-euro as the dollar continued to gain value. Since the step of the Fed, the European single currency against its American counterpart by five percent. "The euro could soon be 13 cents higher at 1.45 and so are. Such appreciation is the last thing the ECB in the current situation of use, "says Hans-Guenter Redeker, currency expert at BNP Paribas. The higher the euro against other currencies quoted, the more difficult it has the export economy in the world markets. The way out of the crisis is for companies in those countries most easily with a weak currency. For this reason, it is in periods of economic weakness are not uncommon currency wars.
Even more pressure on the currency's guardian of the member states of the Eurozone. Especially the weaker peripheral countries like Portugal, Ireland, Greece or Spain, which now under the acronym PIGS brand, pushing the ECB to bolder measures to relieve their economy. Even now they are suffering under the conservative central bank policies. For example, Spain, Greece and Ireland as gradations of their credit accept what the financing of their government budgets extremely expensive. Would the ECB now by the Fed path and choose to buy government bonds, would be the debt financing at a favorable shock. "This pressure, the ECB will not be long able to stand up," Redeker mutmaßt currency expert. "Sooner or later they will also have the central banks of the euro area member countries to buy government bonds." This is even more than is currently the official inflation figures showed that no real problem.
The Governing Council, for the monetary policy is responsible, has recently been a change of attitude can be observed. More and more of the 22 council members to a hyperactive swing loose monetary policy after the U.S. model one. Vice-President Lucas Papademos in the past prepared a course change. The stability-oriented German representative Juergen Stark and Axel Weber, with their stricter attitude largely isolated.
According to the experts are buying the currency with the guardians of Americanization of European monetary policy is a possible short-term stabilization with a higher long-term inflation. And that is exactly what the German savers seem already to feel when they explore the property. The logic behind this: property such as houses, flats, land or farmland offer good protection against loss of value. This is true at least for those objects that are in promising assets are located. Who is the real estate purchase in debt, has another advantage. In periods of inflation the debt will be devalued. An example: When a mortgage with an effective interest rate of five percent, the real zero-load conditions, the inflation to five percent.
Experts advise on a possible long-term fixed-rate ten o'clock-15 o'clock years. For the chosen period is then complete planning. The best conditions exist for a mortgage limit of 60 percent. But even complete strangers are currently financed purchases despite crisis possible. Those who feared loss of employment, on the other hand, loans can be secure. However, this high-ups of five percentage points to be paid. At a monthly rate of 1000 euros, the insurance premium 50 Euro.Währungsexperte Redeker also expects a surge in inflation. However, this will not last. He advises savers prefer to raw materials.
