El Pacto de Estabilidad Desestabiliza a Europa

El Pacto de Estabilidad y Crecimiento de Europa está más amenazado que nunca. Incluso el presidente de la Comisión Europea, Romano Prodi, ahora lo tacha de "estúpido". Podría no equivocarse, en muchos sentidos.

El verano pasado, tan pronto como fue claro que el déficit presupuestario de Alemania podría sobrepasar el techo establecido por el Pacto de Estabilidad, el Canciller Schröder prefirió postponer un recorte de impuestos que ya había anunciado en lugar de reducir el gasto público. Ahora el gobierno francés, reacio a disminuir su inflado sector público, ignora displicentemente al Pacto de Estabilidad y a quienes están encargados de su aplicación en la Comisión Europea, diciendo que tiene "prioridades distintas" a las requeridas por el pacto. La pregunta, entonces, es si el Pacto de Estabilidad puede sobrevivir al antagonismo de las dos economías más grandes de la Unión Europea (UE).

El Pacto de Estabilidad surgió después de un largo periodo (parte de la década de 1970, toda la de 1980 y una buena porción de la de 1990) en el que muchos de los países europeos perdieron el control del balance fiscal. Al inicio, el Pacto de Estabilidad buscaba forzar a los países que deseaban ser parte de la Unión Monetaria Europea a balancear sus cuentas y a reducir el excedente de deuda. Ahora, sin embargo, se están revelando sus defectos inherentes.

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