EU flags at the European Commission TPCOM/Flickr

أوروبا وهوس الاستثمار المضَلَّل

بروكسل ــ كان الشعار في بروكسل ومختلف أنحاء أوروبا هذه الأيام أن الاستثمار يحمل المفتاح لتحقيق الانتعاش الاقتصادي. وتتلخص الركيزة الأساسية للاستراتيجية الاقتصادية الجديدة التي تبنتها المفوضية الأوروبية في الخطة التي كشفت عنها مؤخراً بزيادة الاستثمار بنحو 315 مليار يورو (390 مليار دولار أميركي) على مدى السنوات الثلاث المقبلة. ولكن اقتراح المفوضية مضلل، سواء من حيث تأكيده على الاستثمار أو بنيته التمويلية المقترحة.

والواقع أن خطة المفوضية، وهي المبادرة الرئيسية التي طرحها الرئيس جان كلود يونكر في بداية ولايته، لم تكن مفاجئة. فبعد أن أصبحت منطقة اليورو عالقة في حالة من الركود تبدو بلا نهاية، أصبحت الفكرة بأن الاستثمار المعزز للنمو يشكل ضرورة بالغة الأهمية للتعافي المستدام راسخة بعمق في الخطاب العام. والافتراض الأساسي هنا هو أن المزيد من الاستثمار أفضل دوماً، لأنه يزيد من مخزون رأس المال وبالتالي الناتج.

وهذه ليست الحال بالضرورة في أوروبا في الوقت الراهن. تزعم سلطات الاتحاد الأوروبي (وغيرها) أن أوروبا ــ وخاصة منطقة اليورو ــ تعاني من "فجوة استثمارية". والسبب الرئيسي المفترض وراء هذه الفجوة هو عجز سنوي بمقدار 400 مليار يورو سنوياً نسبة إلى عام 2007.

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