State International

For the governments, international the financial market can still more be dangerous, since it represents one dangerous tool, capable to help them in short term, but in the long run to condemn the financial health of the same ones. Public headings that today allow the country to close in blue its trade balance, for example, compromise it 10, 20 and up to 30 years later, when these headings are successful, beyond generally increasing the external interference on the State, diminishing the autonomy of this. But we do not have, however, to blame international the financial system for macroeconomic shunting lines of the governments. Pablo Robert de Almeida (2010) in offers an idea to them on this: … a very simple reality must be remembered: speculator they only act in face of real and potential disequilibria of the proper beddings of the economy. What this wants to say? No speculative attack against a economy? escape of capitals, manipulations in the exchange markets? it is susceptible to remain itself if the economy presents solid beddings. This analysis coherent, even so, in is determined situations, is yes possible that countries with good financial health is infected by the problems of another economy. These males will be, as it detaches Almeida, passengers if the economy will have solid bases.

We cannot blame, in this manner, the easiness brought for the international financial system integrated by the constants dficits or the high external indebtedness of governments, over all of States in development. If to take an example historical, this thesis can easily be proven. Brazil of the military period had a clear option for the external indebtedness, saw emission of headings and loans of international banks, to finance its mega infrastructure projects (I PND, II PND, etc). The government possua other options, as reform tax, controlled emission of currency, among others, but the choice was for the indebtedness, data the low international interests up to 1979.