Beistand für die Eurozone

CHICAGO – Wie wird sich die Krise in der Eurozone in den kommenden Wochen entwickeln? Mit etwas Glück wird Italien bald eine glaubwürdige Regierung der nationalen Einheit bekommen, Spanien im November eine neue Regierung mit einem Mandat für Veränderung erhalten und Griechenland genug unternehmen, um die Märkte nicht weiter in Aufruhr zu versetzen. Allerdings kann man sich auf nichts davon verlassen.

Was muss also getan werden? Erstens müssen die Banken der Eurozone rekapitalisiert werden. Zweitens müssen ausreichend Mittel vorhanden sein, um den Bedarf von Italien und Spanien im nächsten Jahr zu decken, falls sie ihren Zugang zum Markt einbüßen. Und drittens muss Griechenland, der heute kränkste Mann Europas, so behandelt werden, dass eine Ansteckung der anderen Länder in der Peripherie der Eurozone verhindert wird.

All das muss finanziert werden – allein für die Banken-Rekapitalisierung könnten hunderte Milliarden von Euro erforderlich sein (obwohl dieser Bedarf etwas gemäßigt würde, wenn die Staatsverschuldung großer Länder der Eurozone gesünder aussähe).

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