Une bonne hausse des taux pour l’Europe

Deux erreurs ne résultent jamais en une bonne chose. Ce n’est pas parce que les gouvernements européens n’ont pas réussi à mettre du pain sur la table de leurs électeurs qu’il faudrait que la Banque centrale européenne faillisse de même à son rôle de promotion de la stabilité des prix dans la zone euro. Cela peut paraître évident, mais l’abandon de la stabilité des prix est exactement ce que certains hommes politiques européens réclament.

Les politiciens italiens, par exemple, qui, au vu des mauvaises performances économiques récentes de l’Italie, sembleraient les moins qualifiés pour offrir leurs conseils à la BCE en matière de politique monétaire, n’en continuent pas moins de défendre la baisse des taux. Faisant écho aux déclarations du Premier ministre italien, Silvio Berlusconi, le ministre de l’économie, Mario Baldassari, déclarait la semaine dernière dans le Il Sole 24 Ore que tous les efforts consacrés à la relance de la croissance sont sans effet « si quelqu’un appuie sur le frein ».

De qui se moque-t-il ? S’il y a « quelqu’un qui appuie sur le frein », c’est bien M. Berlusconi lui-même. Il n’a fait aucun effort de réforme économique durant son mandat et cherche maintenant à blâmer la BCE pour les performances économiques médiocres de l’Italie. Mais c’est précisément le manque de réformes économiques domestiques qui a fait de l’Italie l’un des États les moins compétitifs économiquement dans la zone euro.

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