Hermes: The Summer Campaign is Shot on Aegina Island, Greece

The beauty of the pictures speaks for itself. The purity of line, the wisdom of time, the sparsity of luxury. All these are represented perfectly by the French sellier -which became the fashion and leathergoods luxe house- and the eternal Greek ideal. The mighty, sturdy olive, gigantic through the passage of the centuries, the clear skies, the flowing fabrics, the architectural lines, the "nothing in excess" spirit.

The campaign's motto? "Le Temps Devant Soi"...time before you.

Enjoy!

The Three Major European Mistakes Towards the Greek Crisis

In a detailed article signed "Diogenes" by a group of professors of economics, bankers and specialists in the French economic paper Les Echos the three major mistakes perpetrated by the Europeans towards Greece are delineated. It is again made clear, as we have referenced in these pages before, that the euro crisis and the austerity put on Greece as a means to devalue the euro only benefits one party: the dollar (as attested by numbers). And furthermore, those who doth protest too much (i.e. the AngloSaxon press) are exactly the ones whose countries and institutions stand to gain the most.

Here is the English translation of the Les Echos article. Very worth a read:


"The European leaders who have accepted 21 July 2011 not to support Greece in exchange for a downgrading of its debt led us into an unknown world, and especially uncontrollable. Those referring to the Argentine crisis a decade ago forget one thing: the Argentine banking system was closed, like any national currency system. Foreign exchange position passed by the balance sheets of the central bank. The latter could unilaterally block the exchange to avoid capital flight. That's what she did. And without telling anyone: in these conditions the effect of surprise is essential. Those who lived through the devaluations of the franc remember: until the last moment the Minister of Finance denied any problem taking speculators by surprise.

By introducing the Euro, European countries have created an open system where money flows freely. Greek banks can safely transfer the assets of their clients in France, a bank in Anglo-Saxon, for example, that he not be allowed to change of the euro against the dollar or sterling. Using one of the benefits of the euro which allows citizens to use the same currency in all countries of the euro area, the Greeks could "nationalize" their savings in dollars and convert easily. It is therefore not possible to set up a special exchange control for the Greeks.

If we continue the argument, before anybody could do anything whatsoever, and this is almost a year while it lasts,in Europe there will remain but the debts of Greece and Spain. The assets will be elsewhere. It is these assets that are vital to restart their economies. European leaders were wrong - at least-three times.

By breaking the pact of solidarity of the single currency, with of course the excellent reason that the Greeks have lied. By taking action whenever insufficient but more expensive, they went back to the public in those countries without a solution. Letting time pass, they allowed the Greeks and Spaniards who were rich enough to take the necessary steps to get their assets out of their country.
To continue in the same way, all they need to choose between two options: do nothing or decide that Greece should leave the euro.

The big winners are therefore the dollar, the U.S. economy, which desperately needs cash to finance its deficits, and the Anglo-Saxon banks who take their commissions in the process. In a world where competition is fierce, victory belongs to those who demonstrate the ability to move, to decide to act against a Europe mired in its selfishness and its divisions."