Draghi eurotsooni majandusest

ECB head Draghi: Growth is ‘too low everywhere’ in Europe

SINTRA, Portugal (AP) – European Central Bank head Mario Draghi said that “growth is too low everywhere” in the 19-country eurozone despite a modest recovery.

Draghi made the blunt remark as he opened a conference on the unemployment problem plaguing several of the European Union member countries that share the euro currency…..

…..Draghi’s growth call was echoed by a top U.S. Federal Reserve official at the conference. Fed Vice Chair Stanley Fischer said the euro’s crisis has led to new institutions such as EU-level banking supervision and procedures to wind up bad banks to spare taxpayers the costs of bailouts.

Fischer said the euro appeared to have weathered the current crisis but warned that “in the longer run,” the monetary union “will not survive unless it also brings prosperity to its members.”…

Asi on euros ja kriis on poliitiline, rahandussüsteemis pole mitte midagi olemuslikult valesti. Eurosüsteemis on just see valesti, et nad ei jõua omavahel poliitiliselt kokkuleppele. Institutsionaalselt ei sobi see ehk kokku Euroopa kultuuriruumiga, sest meil on siin rahvusriigid, aga mina näen ikkagi probleemi ainult poliitikas. Majandusteadlased muidugi levitavad neoliberaalset propagandat, seda tehti kunagi ka Jaapani kohta: tuleb võlakirjamull, rahatrükk viib kontrollimatu inflatsioonini jne.  Need hirmud ei realiseerunud ja selle asemel, et vigu enda teooriates tunnistada, nad nimetavad nüüd Jaapanit lihtsalt anomaaliaks. Võlg SKP-sse 250%, reservide pumpamine pidi inflatsiooni tooma, aga järgnes deflatsioon.

But he said that the union faced further challenges, such as the lack of a common budget. Leaving budget decisions to individual governments risks overspending by some. It also deprives the union of a common fiscal pot to even out recessions in individual countries.

“The decision to use the single currency to drive the European project forward was a risky one, and at some stage or probably in several stages, it will be necessary to put the missing fiscal framework into place,” Fischer said.

Sellist võimalust on siin blogis arutatud enne ja järeldusele jõutud, et tõenäosus selle töötamiseks Euroopas on üliväike. Pigem ei olda Euroopa riikides nõus rahvuslikust demokraatiast loobuma. Aga tundub, et keskpankurid ja mitmed rahandusministrid on minuga selles küsimuses ühte meelt.

About Kristjan

Defitsiidi terrorismi vastase pataljoni eriüksuslane (finantsignorantsuse vastu võitlemise osakond). Treening: MMT, postkeinsism, Tartu Ülikool Majandusteadus
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