No se culpe al euro

El euro es uno de los éxitos inequívocos de la Unión Europea. Aun así, se ha convertido en un chivo expiatorio favorito en el “juego de las acusaciones” que se está produciendo a raíz de los rechazos holandés y francés de la propuesta de Constitución de la UE. El ministro de Bienestar Social de Italia, Roberto Maroni, ha llegado hasta el extremo de proponer que Italia abandone la economía de la zona del euro y vuelva a la lira.

¿A quién pretende engañar? La nostalgia de Maroni por la lira es poca cosa más que una transparente –e irresponsable– estratagema electoral de la Liga Norte de Italia, un intento de atribuir la responsabilidad por los actuales problemas económicos del país a Romano Prodi, ex Presidente de la Comisión de la UE y candidato de centroizquierda en las próximas elecciones generales. Según el economista principal del BCE Otmar Issing, un regreso a la lira sería un “suicidio económico” para Italia.

Gracias al euro, los bonos del Estado italiano son tan válidos como los del Estado alemán, porque el BCE está dispuesto a aceptarlos en plan de igualdad como garantía para los préstamos del BCE, con lo que se ha reducido espectacularmente el costo de los préstamos para el Estado italiano. ¿Se ha parado el ministro italiano un minuto a pensar cómo pagaría su gobierno todo su gasto público en asistencia social y otras partidas, si los tipos de interés de Italia dejaran de estar subvencionados por el BCE?

To continue reading, please log in or enter your email address.

Registration is quick and easy and requires only your email address. If you already have an account with us, please log in. Or subscribe now for unlimited access.

required

Log in

http://prosyn.org/G48lpFA/es;
  1. Chris J Ratcliffe/Getty Images

    The Brexit Surrender

    European Union leaders meeting in Brussels have given the go-ahead to talks with Britain on post-Brexit trade relations. But, as European Council President Donald Tusk has said, the most difficult challenge – forging a workable deal that secures broad political support on both sides – still lies ahead.

  2. The Great US Tax Debate

    ROBERT J. BARRO vs. JASON FURMAN & LAWRENCE H. SUMMERS on the impact of the GOP tax  overhaul.


    • Congressional Republicans are finalizing a tax-reform package that will reshape the business environment by lowering the corporate-tax rate and overhauling deductions. 

    • But will the plan's far-reaching changes provide the boost to investment and growth that its backers promise?


    ROBERT J. BARRO | How US Corporate Tax Reform Will Boost Growth

    JASON FURMAN & LAWRENCE H. SUMMERS | Robert Barro's Tax Reform Advocacy: A Response

  3. Murdoch's Last Stand?

    Rupert Murdoch’s sale of 21st Century Fox’s entertainment assets to Disney for $66 billion may mark the end of the media mogul’s career, which will long be remembered for its corrosive effect on democratic discourse on both sides of the Atlantic. 

    From enabling the rise of Donald Trump to hacking the telephone of a murdered British schoolgirl, Murdoch’s media empire has staked its success on stoking populist rage.

  4. Bank of England Leon Neal/Getty Images

    The Dangerous Delusion of Price Stability

    Since the hyperinflation of the 1970s, which central banks were right to combat by whatever means necessary, maintaining positive but low inflation has become a monetary-policy obsession. But, because the world economy has changed dramatically since then, central bankers have started to miss the monetary-policy forest for the trees.

  5. Harvard’s Jeffrey Frankel Measures the GOP’s Tax Plan

    Jeffrey Frankel, a professor at Harvard University’s Kennedy School of Government and a former member of President Bill Clinton’s Council of Economic Advisers, outlines the five criteria he uses to judge the efficacy of tax reform efforts. And in his view, the US Republicans’ most recent offering fails miserably.

  6. A box containing viles of human embryonic Stem Cell cultures Sandy Huffaker/Getty Images

    The Holy Grail of Genetic Engineering

    CRISPR-Cas – a gene-editing technique that is far more precise and efficient than any that has come before it – is poised to change the world. But ensuring that those changes are positive – helping to fight tumors and mosquito-borne illnesses, for example – will require scientists to apply the utmost caution.

  7. The Year Ahead 2018

    The world’s leading thinkers and policymakers examine what’s come apart in the past year, and anticipate what will define the year ahead.

    Order now