L’unione bancaria arriva con l’anno nuovo

BRUXELLES - Cinque anni dopo lo scoppio della crisi finanziaria, la situazione economica e politica in Europa resta fragile, con una lieve recessione prevista per quest'anno e un tasso di disoccupazione in aumento. Oltre a ridurre il disavanzo, occorre attuare un piano europeo di investimenti per 120 miliardi di euro (155 miliardi di dollari) e rafforzare il mercato unico europeo per liberare il potenziale di crescita.

C'è bisogno, però, anche di altre misure strutturali. L'Unione europea deve porre fine al circuito di feedback negativo tra i singoli Stati membri e i loro sistemi bancari nazionali. Tra il 2008 e il 2011, i contribuenti europei hanno erogato alle banche 4,5 trilioni di euro sotto forma di prestiti e garanzie. In alcuni Paesi, la minaccia di una ricapitalizzazione delle banche con fondi pubblici ha determinato un calo della fiducia da parte dei mercati e un notevole aumento dei tassi di interesse.

La Banca centrale europea (Bce) ha adottato misure decisive per spezzare questo circolo vizioso; inoltre, è stato raggiunto un consenso sulla necessità per i 17 paesi dell'eurozona di un'unione bancaria che sostenga la moneta comune. La Commissione europea ha proposto un regolamento unico sui requisiti di capitale delle banche, un sostegno mutuo tra i sistemi nazionali di garanzia dei depositi, e regole a livello europeo per la risoluzione delle banche in fallimento, che assegnino gli oneri maggiori agli azionisti e ai creditori, anziché ai contribuenti.

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