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ECB Smart europe bonds

  1. 1. EUROPEAN CENTRAL BANK: SMART EURO AREA DR. AZAMAT ABDOULLAEV SMART NATIONS INDEPENDENT CONSULTANT/SMART ECO COMMUNITY “X” CONSORTIUM HTTP://WWW.SLIDESHARE.NET/ASHABOOK/IEUROPE SMART TRANSNATIONAL CIRCULATION OF KNOWLEDGE, IDEAS, PEOPLE, GOODS, SERVICES, AND CAPITAL EUROPE AS THE INTELLIGENT AND INNOVATIVE, HEALTHY AND WEALTHY, LIVEABLE AND EFFICIENT, MORAL AND FAIR, SMART AND SUSTAINABLE UNION EUROPEAN UNION APRIL 2015 Smart Green EUROPE: EUR 1.1 trillion Asset Purchase/Bond Buying/ Quantitative Easing Program https://eu-smartcities.eu/forum/smart-green-europe The general objective of “Smart Green Europe” is to build a smart inclusive society and a world-leading economy based on knowledge, innovation and future technologies and integrated sustainable urban and rural development. [Proposed to the President-elect Jean-Claude JUNCKER and the European Central Bank as a Pan-European Investment Platform under the European Fund of Strategic Investments and the European Projects of Common Interest] http://www.slideshare.net/ashabook/europe-tomorrow-poverty-or-prosperity
  2. 2. A. Smart Green Europe Azamat Abdoullaev 20 April 2015 I-EUROPE TRINITY Knowledge EUROPE/ Continent/ Country/ City/Commu nity I-Europe Government Platform DIRECT DIGITAL DEMOCRACY Eco- EUROPE/ Continent/ Country/ City/Commu nity Digital EUROPE/ Continent/ Country/ City/Commu nity Physical Capital Natural Capital Ecosystems Natural Resources Renewables/RES Eco Technologies Green Infrastructure Eco-Urbanization Green Society ECO-SUSTAINABLEGROWTH Information/DigitalCapital Smart Mobility , Smart Services ICT Infrastructure,OTN, Optical Networks , NG Broadband 3DTV, HDTV, CC, Intelligent Clouds Internet of Things, u-Computation Digital/Cyber Society TECHNOLOGICAL/SMARTGROWTH Social/Human/I-Capital Innovation Ecosystems Smart Living Smart Economy Knowledge Infrastructure i-Industry Smart Governance Equity, Wellbeing, QoL Knowledge Society SOCIAL/INCLUSIVE GROWTH SMART ECO EUROPE COMMUNITY
  3. 3. WHY “SMART GREEN EUROPE”?  Most Member States, as Ireland, Portugal, Netherlands, Portugal, Greece, Spain, Denmark, Sweden, France, Italy, UK and Finland, Hungary, Austria, Cyprus, are deeply indebted countries, having the real economy debt- to-GDP ratio more than doubled.  The states of European affairs are in urgent need of all-comprehensive and systematic transformation in all the critical aspects, economic, political, social, cultural, territorial, scientific, technological, and environmental, so that to secure a “sustainable recovery” scenario (EUROPE 2020, A European Strategy for Smart, Sustainable and Inclusive Growth, 2010, Communication from Commission).  Overall, the Smart Green Europe is to effectively implement the President-elect, Jean-Claud Juncker, Political Guidelines as well as the key strategic guidelines for the Union presented by the European Council of 27 June 2014:  • A New Boost for Jobs, Growth and Investment  • A Connected Digital Single Market  • A Resilient Energy Union with a Forward-Looking Climate Change Policy  • A Deeper and Fairer Internal Market with a Strengthened Industrial Base  • A Deeper and Fairer Economic and Monetary Union  • A Reasonable and Balanced Free Trade Agreement with the U.S.  • An Area of Justice and Fundamental Rights Based on Mutual Trust  • A New Policy on Migration  • A Stronger Global Actor  • A Union of Democratic Change  https://eu-smartcities.eu/forum/smart-green-europe Smart Green Europe Azamat Abdoullaev 20 April 2015
  4. 4. “SMART ECO EUROPE” DEVELOPMENT PROJECTS  • I-EUROPE PLATFORM: Smart circulation of knowledge, ideas, people, goods, services, and capital  • The “Smart Eco Europe” Cities and Communities  • The “Smart Eco Europe” Member States  • The “Smart Green EUROPE” Infrastructure  • The “Smart Sustainable EUROPE” Industry  • The “Smart Eco Union” Funding 2014-2020  • The Smart Euro Area: Smartly Investing One Terra Euros  i-EUROPE Manifesto:  http://www.slideshare.net/ashabook/i-europe-title-10150491  http://www.slideshare.net/ashabook/intelligent-europe-project  http://www.slideshare.net/ashabook/ieurope Smart Green Europe Azamat Abdoullaev 20 April 2015
  5. 5. STRATEGIC INVESTMENT OF EUROPEAN SIGNIFICANCE  The “Smart Green Europe” will directly support the implementation of the Europe 2020 strategy by creating and consolidating the future Union policies, regulations, plans, programs, schemes and services for the Post- Europe 2020.  The “Smart Green Europe” is designed as a Strategic Investment of European Significance in Urban and Natural Environment, Energy, Transport, Broadband, Education, Research and Innovation, Economy and Business.  The Project is to combine all the key investment areas such as mobility, SME-support, green energy, resource and energy efficiency, digital infrastructure and Information and Communication Technology in a systematic, sustainable and inclusive way.  The “Smart Green Europe” implies the highest economic and societal and environmental return, promising stable economic recovery, long-term growth, quality jobs and sustainable competitiveness, and involving the smart nation government bonds and municipal revenue bonds, as under the European Central Bank’s Assets Purchase Program of EUR 1 trillion.  The “Smart Eco Union” envisions its Communities of tomorrow as the places of holistic conception, integrated investment strategies and innovative action plans, of advanced social progress; of green, ecological or environmental regeneration; of attraction of talents and engines of economic growth, as well as the platforms for smart governance, democracy, cultural dialogue, diversity and social unity.  It is to contribute into building the Future Union as the Integrated Territories of the Future: Sustainable States, Intelligent Eco Cities, Green Communities, Sustainable Future-Proof Infrastructures, Intelligent Industrial Base and Eco-Smart Natural and Built Environment.  http://www.slideshare.net/ashabook/europe-tomorrow-poverty-or-prosperity Smart Green Europe Azamat Abdoullaev 20 April 2015
  6. 6. STRATEGY AND IMPLEMENTATION PLAN  The Project Promoter: Smart Eco Community “X” Consortium/ EIS Ltd (Policy and Regulations and Integrated Planning AC)  The Project Prospective Stakeholders: Junker Commission, EC Digital Single Market, DG for Communications Networks, Content and Technology; DG for Mobility and Transport; DG For Energy; DG For Environment, DG for Regional Policy; 6 Action Clusters, European Innovation Partnership on Smart Cities and Communities  The Project Strategies: The Europe 2020 Strategy; the Post-2015 United Nations Development Agenda, “Realizing the Future We Want for All”; the Smart Eco Life Strategy  The Smart Nations Links: http://www.slideshare.net/ashabook/sustainable-nations-global-initiative-europe  The Financial Instruments and Funding Sources: The European Projects of Common Interest; the Connecting Europe Facility, the EC Horizon 2020, the EIB, the European Fund for Strategic Investments, the European Structural and Investment Funds, European Central Bank (EUR 1 trillion assets purchase program); Private Eco-Wise Economic Investments  The Initiative Schema: the EU Smart Cities and Communities Initiative; the Sustainable Nation Global Initiative; the Smart Superpower Global Initiative:  ABOUT: The SEC “X” Consortium is committed to transform the nations and states, metropolises, cities and communities according to the Smart Eco Life Strategy into integrated sustainable territories of the future. Smart Green Europe Azamat Abdoullaev 20 April 2015
  7. 7. EUROPEAN CENTRAL BANK: SMART ASSETS BONDS AND INTELLIGENT LIQUIDITY OPERATIONS PILOTS  Mario Draghi, President of the ECB  Vítor Constâncio, Vice-President of the ECB  Dear President, Vice-President and Members of the Governing Council,  Considering that the disruptively creative innovative ideas have the most added values for a sustainable future, the “Smart Green Europe” has been presented to the President of the European Commission as a Pan-European Investment Platform.  The “Smart Eco Union” Investment Program is in line with the mission of the European Central Bank, of creating a sustainable euro area, with the credit flows to the green and smart economy, thus avoiding a “bad bank”, price instability and high inflation scenario.  As smart euro solutions, it proposes the ECB’s Bond buying programme as the Smart Assets Purchase Programme, as well as the intelligent liquidity operations pilots, see as attached:  EUR 1.1 trillion Smart Union Program brief; B) 10b Smart Assets Pilot in Europe; C) 1b Smart Assets Pilot in Cyprus.  The Program is to support the EC’s Political Guidelines and the strategic guidelines for the Union presented by the European Council of 27 June 2014.  Besides, the Investment Program is meeting sustainable investment demands of such key stakeholders as the European Engineering Industries Association and the IIGCC of pension funds, insurance companies, asset managers and specialist infrastructure funds, having collectively about €10 trillion of assets under management.  We are looking for a partnership with the ECB and the Eurosystem to advance the “Smart Green Europe” as a strategic project of European significance under the European Fund of Strategic Investments and/or the European Projects of Common Interest.  The Project is planning to develop i-Europe Governance Platform which might have as its core element the Smart Eurosystem Digital System facilitating the “organisational principles for the Eurosystem and the Single Supervisory Mechanism”.  The Proposal Received by 03/26/2015 Smart Green Europe Azamat Abdoullaev 20 April 2015
  8. 8. THE SMART EURO AREA: SMARTLY INVESTING ONE TERRA EUROS  The European Central Bank and the Eurosystem are entrusted with formulating the monetary policy for euro area, involving standard instruments in regulating the money supply: open- market formulations, the discount rate and reserve requirements.  By selling and buying the government securities, the ECB influences the supply of money and credit and rates of interest and the supply of reserves.  It is believed that monetary policy measures together with fiscal policy might help achieve and maintain economic growth and better employment and stabilize prices and wages and inflation.  Since “policy interest rate could not be reduced any further”, the ECB is starting implementing its “non-standard monetary policy measures” as the open-market operations.  It begins purchasing euro-denominated public sector securities in the secondary market, sovereign bonds and private sector assets, while continuing purchasing asset-backed securities and covered bonds.  The assets purchase scheme is meant paying with a check drawn on itself, thus creating virtual money as additional deposits by the security sellers in commercial banks, meaning to increase their cash reserves and lending capacity.  The combined monthly purchases of public and private sector securities will amount to €60 billion to be carried out until the end of September 2016, making a total amount of EUR 1 trillion. Smart Green Europe Azamat Abdoullaev 20 April 2015
  9. 9. SMART NATION BONDS: STATE PILOTS  Considering that most Member States are among the most highly indebted countries, having a worrying real economy debt-to-GDP ratio and heavy debt of the financial sector, the “Smart Green Europe” suggests that the ECB’s assets purchase program is wise to focus on three classes of “real economy”, as smart investment- grade bonds:  Smart nation bonds, general bonds or limited obligation bonds, issued by a Member State to build (acquire or improve) a revenue-creating public property, as intelligent national transportation networks (fast-speed railroads and port authorities or intelligent tall roads), or optical trunk networks).  They are thus backed either by taxation capacity or by the revenue generated by the advanced physical and digital infrastructures, facilities or social infrastructure services for which the bonds issued.  The “Smart Nation” Investment Strategy is to deliver the social and economic growth by advancing sustainable construction, green roads, intelligent energy, business innovation, smart commerce, intelligent industry and sustainable tourism infrastructures and cutting-edge facilities, initiating the Innovation Mega Regions of sustainable states, smart agglomerations, innovation clusters, green communities and eco developments.  Its strategic business model is a multi-level partnership of the government, innovative business groups, state utilities, municipalities and communities, academia and research institutions, with active citizen engagement and involvement.  As the smart nation bonds pilots and demonstrators, there are proposed two largest European economies, as “Smart Germany” and “Smart Britain”, as well as the smallest economy as “Smart Eco Cyprus”. Smart Green Europe Azamat Abdoullaev 20 April 2015
  10. 10. SMART MUNICIPAL AND CORPORATE BONDS  Smart municipal bonds, general bonds or limited obligation revenue bonds. The first is backed by a city’s tax collection for advanced utilities and social services, or extensive renovation of existing urban infrastructures in utilities, ICT, water, waste, buildings, energy, and transport systems. The revenue bonds are issued by a municipality to build (acquire or improve) a revenue-creating property, as intelligent transportation networks (fast-speed railroads and port authorities or intelligent tall roads), renewable power plants, smart waterworks, waste-to-energy plants, or optical trunk networks). They are thus backed by the revenue generated by the advanced facility or social infrastructure services for which the bond issued. As the smart and sustainable city bonds pilots and demonstrators, there are proposed the largest European city capitals, as “Smart London”, “Smart Paris”, “Smart Berlin”, “Smart Rome”, “Smart Madrid”, and “Smart Brussels”. It’s worth to mention here the recent Egyptian government initiative to extend Cairo as a smart and sustainable capital city at a cost of $US45 billion.  Smart corporate bonds, secured by a lien against private sector assets, such as high-quality real estate (mortgage bonds, as far as most loans linked to real estate) or other valuable property, as advanced plant equipment. They are thus to be backed by the revenue generated by the sustainable property developments or smart industry facilities. As the smart corporate bonds pilots, there are proposed eco-innovative intelligent real estate developments, digital manufacturing plants and eco-smart energy plants in the selected smart Member States.  The Smart Bonds and Assets Purchase Program is well in line with the REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on the European Fund for Strategic Investments,…Council of the EU, 2015/0009 (COD), see the SUPPLEMENT. Smart Green Europe Azamat Abdoullaev 20 April 2015
  11. 11. THE SMART FUNDING PRACTICE FROM CHINA  As a good practice of smart bonds investment, it could serve a fast developing competitive economy of China.  As a matter of fact, China’s debt is quadrupled since 2007, making 282% GDP, or $28 trillion by mid-2014. Its half of loans divided by real estate and shadow banking, but the debt of many local governments linked to smart cities development, thus becoming more future-proof and sustainable strategic investment.  As far as debt remains a key tool for funding economic growth, its government debt is wisely made against future eco-sustainable urbanization, with 600 cities allocated about $ 322 billion for embracing smart and green cities development strategies (for more, see “Comparative Study of Smart Cities in Europe and China”).  In China, to become smart and green is the matter of government policy, involving the State Council and the key government departments, such as Ministry of Industry and Information Technology, National Development and Reform Commission, Ministry of Science and Technology, the Ministry of Housing and Urban-Rural Development, the National Administration of Surveying, Mapping and Geoinformation, the National Tourism Administration and other relevant departments.  China's State Council issued “Several Opinions on Promoting Consumer Spending on Information Technology and Expanding Domestic Demand” proposing to develop pilot and demonstrative smart cities.  It required all pilot cities to issue policies to encourage market-based investment and financing, supporting intelligent upgrading of public utilities and fast implementation of smart grids, smart transport, smart water supplies, smart land administration and smart logistics.  As the things stand now, Europe is risking losing its global smart and green growth leadership to Smart Eco China unless the ECB Governing Council is to take a smarter strategy for for EUR 1.1 trillion Asset Purchase/Bond Buying/Quantitative Easing Program. Smart Green Europe Azamat Abdoullaev 20 April 2015
  12. 12. ECB GOVERNING COUNCIL: WHO DECIDES ON SMART EUROPE BONDS  Mario Draghi , President of the ECB  Vítor Constâncio, Vice-President of the ECB  Benoît Cœuré, Member of the Executive Board of the ECB  Sabine Lautenschläger, Member of the Executive Board of the ECB  Yves Mersch , Member of the Executive Board of the ECB  Peter Praet , Member of the Executive Board of the ECB  Jan Smets, Governor, Nationale Bank van België/Banque Nationale de Belgique  Jens Weidmann, President, Deutsche Bundesbank  Ardo Hansson, Governor, Eesti Pank  Patrick Honohan, Governor, Central Bank of Ireland  Yannis Stournaras, Governor, Bank of Greece  Luis María Linde, Governor, Banco de España  Christian Noyer, Governor, Banque de France  Ignazio Visco, Governor, Banca d'Italia  Chrystalla Georghadji, Governor, Central Bank of Cyprus  Vitas Vasiliauskas, Chairman of the Board, Lietuvos bankas  Ilmārs Rimšēvičs, Governor, Latvijas Banka  Gaston Reinesch, Governor, Banque centrale du Luxembourg  Josef Bonnici, Governor, Central Bank of Malta  Klaas Knot, President, De Nederlandsche Bank  Ewald Nowotny, Governor, Oesterreichische Nationalbank  Carlos Costa, Governor, Banco de Portugal  Boštjan Jazbec, Governor, Banka Slovenije  Jozef Makúch, Governor, Národná banka Slovenska  Erkki Liikanen, Governor, Suomen Pankki - Finlands Bank Smart Green Europe Azamat Abdoullaev 20 April 2015
  13. 13. SMART STATES GLOBAL INITIATIVE  http://ec.europa.eu/dgs/secretariat_general/eu2020/docs/intelligent_europe_center_en.pdf  http://eu-smartcities.eu/blog/smart-superpowers-projects-states-powers-great-powers-and-hyperpowers  http://www.slideshare.net/ashabook/superpowers-smart-states-global-initiative  http://www.slideshare.net/ashabook/sustainable-nations-global-initiative-europe  http://www.slideshare.net/ashabook/i-europe-title-10150491  http://ec.europa.eu/dgs/secretariat_general/eu2020/docs/intelligent_europe_center_en.pdf  http://www.slideshare.net/ashabook/smart-europe  http://www.slideshare.net/ashabook/urban-europe  http://www.slideshare.net/ashabook/intelligent-europe-project http://www.slideshare.net/ashabook/ieurope  http://www.slideshare.net/ashabook/igermany  http://www.slideshare.net/ashabook/smart-britain  http://www.slideshare.net/ashabook/smart-china  http://www.slideshare.net/ashabook/smart-japan  http://www.slideshare.net/ashabook/sustainable-nations-global-initiative-russia  http://www.slideshare.net/ashabook/irussia-20142024  http://www.slideshare.net/ashabook/smart-america Smart Green Europe Azamat Abdoullaev 20 April 2015
  14. 14. INTEGRATED INTELLIGENCE PLATFORM: EIS ENCYCLOPEDIC INTELLIGENCE PLATFORM  ENCYCLOPEDIC INTELLIGENCE I: http://www.slideshare.net/ashabook/encyclopedic-intelligence ENCYCLOPEDIC INTELLIGENCE II: http://www.slideshare.net/ashabook/encyclopedic-intelligence-24260973 ENCYCLOPEDIC INTELLIGENCE III: http://www.slideshare.net/ashabook/encyclopedic-intelligence-global- marketing ENCYCLOPEDIC INTELLIGENCE IV: http://www.slideshare.net/ashabook/encyclopedic-intelligence-big- science-and-technology ENCYCLOPEDIC INTELLIGENCE V: http://www.slideshare.net/ashabook/global-intelligence-26413485  ENCYCLOPEDIC INTELLIGENCE VII: http://www.slideshare.net/ashabook/network-software  ENCYCLOPEDIC INTELLIGENCE VIII: http://www.slideshare.net/ashabook/future-media-29450485  http://www.slideshare.net/ashabook/space-platform  http://www.slideshare.net/ashabook/future-space  GLOBAL INNOVATION AND DISRUPTIVE TECHNOLOGY PLATFORM: http://www.slideshare.net/ashabook/innovation-platform  http://www.slideshare.net/ashabook/eis-ltd http://www.slideshare.net/ashabook/eis-limited-28850348  http://www.slideshare.net/ashabook/creating-the-future-tomorrows-world  http://www.slideshare.net/ashabook/eis-global-innovation-platform Smart Green Europe Azamat Abdoullaev 20 April 2015
  15. 15. CONTACTS  Dr Azamat Abdoullaev, Director/I-World Independent Consultant  "Энциклопедические Интеллектуальные Системы“(Moscow/Russia)  http://www.slideshare.net/ashabook/eis-ltd EIS Encyclopedic Intelligent Systems Ltd (EU)  http://www.slideshare.net/ashabook/eis-limited-28850348  HTTP://WWW.SLIDESHARE.NET/ASHABOOK/AZAMAT-ABDOULLAEV Тел.: 456 10 35; 453 26 00; Int.: + 357 99 683 849  E-mail: smartcity@cytanet.com.cy ontopaedia@gmail.com  Internet Sites: http://iiisyla.livejournal.com  http://eu-smartcities.eu/; http://eu-smartcities.eu/commitment/3089  i-RUSSIA @i_EcoRUSSIA  http://www.slideshare.net/ashabook/presentations  http://www.slideshare.net/yearinreview/ashabook/3wUNAg  EIS ENCYCLOPEDIC INTELLIGENCE PLATFORM:  http://www.slideshare.net/ashabook/eis-global-innovation-platform  http://www.slideshare.net/ashabook/encyclopedic-intelligence http://www.slideshare.net/ashabook/innovation-platform Smart Green Europe Azamat Abdoullaev 20 April 2015

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