La envidia de Europa hacia el dólar

Las monedas se pueden convertir en el foco no sólo de transacciones comerciales, sino de disputas diplomáticas y políticas. Cuando esto ocurre, las transacciones comerciales se hacen más difíciles y quedan sujetas a una mayor incertidumbre. La politización del dinero durante la depresión de entreguerras fue económicamente devastadora. Pero ha habido casos más recientes de perversas luchas de monedas.

En los años 60 el orden monetario internacional se convirtió en el foco de una guerrilla política. Cada lado tenía teorías y explicaciones bien distintas acerca de lo que pasaba. Los europeos (en particular, los franceses) se quejaban de lo que el General Charles de Gaulle llamaba el "exorbitante privilegio" del dólar estadounidense. El General y su gurú monetario, Jacques Rueff, argumentaban que EEUU usaba el estatus del dólar como la principal moneda de reserva originado por el régimen de tipo de cambio fijo de Bretton Woods para tener déficits y pagar sus aventuras militares en el extranjero (en esa época, Vietnam).

Francia hacía llamados a una reforma monetaria que acabara con el peculiar papel del dólar e intentara revivir el patrón oro, para entonces muy desacreditado. Los europeos iniciaron una larga discusión acerca de las ventajas de la unión monetaria, logro que les permitiría mirar al dólar cara a cara.

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