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La muerte silenciosa de la gobernanza de la eurozona

BRUSELAS – En algunas oportunidades, lo más importante que sucede es lo que no sucede – o, parafraseando a Sherlock Holmes, lo que importa es por qué no ladró el perro en la noche. La falta de respuesta ante el hecho de que la Comisión Europea no ha exigido el cumplimiento por parte de España y Portugal de los términos del Pacto de Estabilidad y Crecimiento (PEC) es una de esas oportunidades.

De acuerdo con las normas del PEC, la Comisión debería haber propuesto que se imponga una multa a España y Portugal, debido a que estos países rebasaron, y por un amplio margen, los objetivos de déficit fiscal. La multa habría sido en gran medida simbólica, pero la Comisión parece haber decidido que el simbolismo no valía la pena.

Además, la Comisión no fue la única que optó por no ladrar; el resto de Europa se mantuvo también en silencio. Ni siquiera Alemania, el principal guardián de la austeridad de la Unión Europea, se animó a hacerlo. De hecho, se han escuchado informes sobre que el ministro de Finanzas alemán, Wolfgang Schäuble, cabildeó para influir en varios miembros de la Comisión con el propósito de que no se impongan multas a España y Portugal. La prensa financiera alemana, que a menudo reprocha a la Comisión Europea por ser demasiado relajada, apenas dio cuenta de la decisión.

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