Argentinien erholt sich

von Joseph Stiglitz

Es zeigen sich die ersten Anzeichen einer Erholung Argentiniens. Vielen bleibt das, was dort geschah und geschieht, ein Rätsel. Die Aufgabe der "Konvertierbarkeit", d.h. des festen Wechselkurses wurde als Katastrophe bezeichnet - als welche sie sich dann auch herausstellte. Die Produktionsquote sank und die Arbeitslosigkeit stieg dramatisch an. Die Furcht vor den damit verbundenen Kosten hatte Argentinien lange davon abgehalten, seine Währungsbindung aufzugeben, noch lange, nachdem klar war, dass dieses System nicht aufrecht erhalten werden konnte. Diese Hartnäckigkeit hat die Situation nur noch verschlimmert, als die Krise schließlich kam.

Aber was die Argentinier hauptsächlich an ein System band, dass nicht funktionieren konnte, war die Angst vor der Hyperinflation. Wen ich bei meinem Besuch in Buenos Aires auch fragte, warum Argentinien so lange an dieser ökonomischen Dummheit festhielt, ich erhielt immer dieselbe Antwort: "Als Brasilien abstürzte, blieb die Inflation dort unter Kontrolle, aber Brasilien ist Brasilien und wir sind in Argentinien." In dem Misstrauen, das die Argentinier für Institutionen und ihre Fähigkeit, ohne die Fesseln der Konvertierbarkeit auszukommen, hegten, lag fast so etwas wie Stolz.

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