Un pequeño paso hacia una unión bancaria

BRUSELAS – Al comienzo de la crisis financiera, se dijo de los bancos lo que con agudeza señaló Charles Goodhart: “aunque en vida puedan ser internacionales, se vuelven nacionales en la muerte”. En aquel momento (2008-2009), grandes bancos internacionales se encontraron en problemas y fue necesario que sus propios gobiernos nacionales los rescataran. Pero ahora Europa enfrenta el problema opuesto: los bancos son “nacionales en vida, pero europeos en la muerte”.

En España, por ejemplo, los bancos de ahorro locales (las “cajas”) financiaron un auge inmobiliario desmedido que, al transformarse en caída, provocó pérdidas de tal magnitud que amenazaron con superar la capacidad del estado español; se convirtió entonces en un problema de Europa, porque ponía en riesgo la supervivencia misma del euro.

El caso de España es sintomático de un problema más amplio. Las autoridades encargadas de la supervisión bancaria en cada país siempre tienden a minimizar los problemas internos, porque el instinto (y el interés burocrático) los llevan a defender a sus “megabancos nacionales” en el extranjero.

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