La stabilità e la prosperità nell’Unione monetaria

FRANCOFORTE – Un comune equivoco sull’area dell’euro scaturisce dal fatto che si tratta di un’unione monetaria senza un’unione politica. Ma ciò riflette un profondo fraintendimento del significato di “unione monetaria”. L’unione monetaria è possibile solo grazie al considerevole grado di integrazione raggiunto dai paesi dell’Unione europea, reso ancora più profondo dalla condivisione di una moneta unica.

Se l’unione monetaria europea ha dimostrato maggiore tenuta di quanto ritenessero molti, è soltanto perché coloro che nutrivano dubbi al riguardo hanno giudicato erroneamente questa dimensione politica. Hanno sottovalutato quanto i suoi membri fossero legati, quanto avessero investito collettivamente e quanto fossero disposti a risolvere insieme problemi comuni nei momenti di maggiore necessità.

È chiaro, però, che la nostra unione monetaria è ancora incompleta. Questa era la diagnosi formulata due anni fa dai “quattro presidenti” (il Presidente del Consiglio europeo in stretta collaborazione con i suoi omologhi della Commissione europea, della Banca centrale europea e dell’Eurogruppo). Certo, in alcuni ambiti sono stati conseguiti progressi importanti, ma in altri resta ancora del lavoro da fare.

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