{"id":8644,"date":"2011-12-08T15:36:15","date_gmt":"2011-12-08T12:36:15","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=8644"},"modified":"2011-12-08T15:36:22","modified_gmt":"2011-12-08T12:36:22","slug":"olumlu-ruzgarlar-esiyor","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/olumlu-ruzgarlar-esiyor\/","title":{"rendered":"Olumlu R\u00fczg\u00e2rlar Esiyor"},"content":{"rendered":"<p>Avrupal\u0131 liderlerin yar\u0131n yapacaklar\u0131 toplant\u0131 \u00f6ncesi piyasalarda olumlu bir hava olu\u015ftu. Nedeni Merkel, Sarkozy ve Geithner aras\u0131ndaki ikili toplant\u0131lardan baz\u0131 bilgilerin medyaya s\u0131zmas\u0131.<br \/>\nSorunun vahametinin liderlerce anla\u015f\u0131ld\u0131\u011f\u0131n\u0131 g\u00f6zleyen piyasalar, at\u0131lan ad\u0131mlarla s\u0131k\u0131nt\u0131l\u0131 \u00fclkelerin bor\u00e7 sorununun \u00e7\u00f6z\u00fclece\u011fine inanmaya ba\u015flad\u0131lar.<br \/>\n\u00d6zellikle Avrupa \u0130stikrar Fonu&#8217;nun (ESF) kurulu\u015funun \u00f6ne al\u0131nmas\u0131, bu kuruma banka stat\u00fcs\u00fc verilerek Avrupa Merkez Bankas\u0131&#8217;ndan bor\u00e7lanma olana\u011f\u0131n\u0131n sa\u011flanmas\u0131 ve de en \u00f6nemlisi Almanya&#8217;n\u0131n bu fonun arkas\u0131nda durdu\u011funun bilinmesi d\u00fc\u011f\u00fcm\u00fc \u00e7\u00f6zecek gibi g\u00f6r\u00fcn\u00fcyor.<br \/>\nSorunlu \u00fclkelere 1 trilyon Euro&#8217;luk kaynak ayr\u0131lmas\u0131 gibi somut bir sonu\u00e7 da piyasalar\u0131 rahatlat\u0131yor.<\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-342650809\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"9580705384\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p><strong>AYKIRI B\u0130R ALMAN<\/strong><br \/>\nBunun bir yans\u0131mas\u0131n\u0131 d\u00fcn \u0130stanbul&#8217;da yap\u0131lan bir toplant\u0131da g\u00f6zledim.<br \/>\nFinans D\u00fcnyas\u0131 ve GYODER&#8217;in ortakla\u015fa d\u00fczenledi\u011fi konferansta \u00f6nce Sermaye Kurulu Ba\u015fkan\u0131 Vedat Akgiray, &#8220;iyi haberler ger\u00e7e\u011fe d\u00f6n\u00fc\u015ft\u00fck\u00e7e T\u00fcrkiye&#8217;nin de bundan yararlanaca\u011f\u0131n\u0131, ancak bu s\u00fcrecin biraz zaman alaca\u011f\u0131n\u0131&#8221; s\u00f6yledi. Ger\u00e7ek\u00e7iydi.<br \/>\nDaha sonra Avrupa Politik Ara\u015ft\u0131rmalar Merkezi Direkt\u00f6r\u00fc Daniel Gros &#8220;ezber bozduran&#8221; bir sunum yapt\u0131.<br \/>\nChicago \u00dcniversitesi&#8217;nden doktoral\u0131, IMF, Avrupa Komisyonu ve \u00e7e\u015fitli \u00fcniversitelerde \u00f6\u011fretim g\u00f6revlisi olarak \u00e7al\u0131\u015fan Gros&#8217;un fikirlerine bir\u00e7ok Avrupal\u0131 y\u00f6neticinin de\u011fer verdi\u011fini biliyorum. Kendisiyle beraber baz\u0131 d\u00fc\u015f\u00fcnce kurulu\u015flar\u0131n\u0131n toplant\u0131lar\u0131na kat\u0131ld\u0131\u011f\u0131mda de\u011fi\u015fik, bazen ayk\u0131r\u0131 ve fakat ger\u00e7ek\u00e7i yakla\u015f\u0131mlar\u0131n\u0131 izlemi\u015ftim.<br \/>\nAlman olmas\u0131na kar\u015f\u0131n Avrupal\u0131 gibi d\u00fc\u015f\u00fcnen nadir ki\u015filerden birisi de Daniel Gros idi.<br \/>\nTebli\u011finde Avrupa i\u00e7in bamba\u015fka bir tablo ortaya koydu.<br \/>\nGros&#8217;a g\u00f6re sorun, AB \u00fclkelerinin bor\u00e7 \u00f6deme s\u0131k\u0131nt\u0131s\u0131na d\u00fc\u015fmeyeceklerini varsayan Avrupa projesinden do\u011fdu. Bu yap\u0131ya g\u00fcvenerek finans kurumlar\u0131n\u0131n kamulara a\u00e7t\u0131klar\u0131 limitsiz krediler, o \u00fclkelerdeki t\u00fcketimin artmas\u0131 sonucunu do\u011furdu. Bu da rekabet\u00e7i yap\u0131lar\u0131 bozdu.<br \/>\nKamu bor\u00e7 sorununun \u00e7\u00f6z\u00fclmesi ve sorunlu \u00fclkelerde t\u00fcketimin k\u0131s\u0131lmas\u0131 durumunda Avrupa&#8217;n\u0131n d\u00fc\u015f\u00fck de olsa istikrarl\u0131 b\u00fcy\u00fcme s\u00fcrecine girebilece\u011fini s\u00f6yleyen Gros, Euro B\u00f6lgesi&#8217;ndeki cari a\u00e7\u0131k fazlas\u0131 ve a\u00e7\u0131\u011f\u0131n\u0131n toplam\u0131n\u0131n s\u0131f\u0131r oldu\u011fu dikkate al\u0131nd\u0131\u011f\u0131nda Avrupa&#8217;n\u0131n kendi finansman\u0131n\u0131 sa\u011flayacak bir durumda oldu\u011funu belirtti.<\/p>\n<p><strong>F\u0130NANS S\u0130STEM\u0130 D\u00dcZG\u00dcN \u00c7ALI\u015eIRSA<\/strong><br \/>\nBunun ko\u015fulu ise finans sekt\u00f6r\u00fcn\u00fcn d\u00fczg\u00fcn \u00e7al\u0131\u015fmas\u0131. Bu durumda b\u00f6lgedeki tasarruf fazlalar\u0131, az olan b\u00f6lgelere akarak onlar\u0131n finansman sorununu \u00e7\u00f6zecek.<br \/>\n&#8220;\u00d6rne\u011fin, Almanya&#8217;daki k\u0131sa vadeli tahvil faizleri halen negatif. Finans sistemi sa\u011fl\u0131kl\u0131 bir bi\u00e7imde \u00e7al\u0131\u015f\u0131rsa Alman tasarruf\u00e7ular daha cazip faizli \u0130talyan tahvillerini alarak bu \u00fclkeyi finanse edebilirler.&#8221;<br \/>\nSon geli\u015fmeleri olumlu olarak niteleyen Daniel Gros, Avrupa \u0130stikrar Fonu&#8217;nun do\u011fru at\u0131lm\u0131\u015f bir ad\u0131m oldu\u011funu da belirtmeden ge\u00e7emiyor.<br \/>\nAncak Avrupa i\u00e7in yeni bir anla\u015fma yap\u0131lmas\u0131na kar\u015f\u0131. &#8220;Gereksiz&#8221; diyor. &#8220;Finans sistemi ve Avrupa \u0130stikrar Fonu i\u015fletildi\u011fi takdirde halen ge\u00e7erli olan anla\u015fma y\u00f6neti\u015fim sorunlar\u0131n\u0131 halleder. Aksi halde bir s\u00fcr\u00fc l\u00fczumsuz tart\u0131\u015fma \u00e7\u0131kacak.&#8221;<br \/>\nAnla\u015f\u0131laca\u011f\u0131 gibi Almanlar\u0131n direnci biraz da olsa k\u0131r\u0131l\u0131nca \u00fcmitler ye\u015fermeye ba\u015flad\u0131.<br \/>\nSan\u0131r\u0131m bu defa dipten bir kez daha d\u00f6n\u00fcp orta d\u00f6neme bakma olana\u011f\u0131n\u0131 bulaca\u011f\u0131z.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Avrupal\u0131 liderlerin yar\u0131n yapacaklar\u0131 toplant\u0131 \u00f6ncesi piyasalarda olumlu bir hava olu\u015ftu. Nedeni Merkel, Sarkozy ve Geithner aras\u0131ndaki ikili toplant\u0131lardan baz\u0131 bilgilerin medyaya s\u0131zmas\u0131. Sorunun vahametinin&hellip;<\/p>\n","protected":false},"author":418,"featured_media":5395,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tumyazilar"],"_links":{"self":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/8644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/users\/418"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=8644"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/8644\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media\/5395"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=8644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=8644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=8644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}