MP Panagiotis Lafazanis and Yanis Varoufakis MP Panagiotis Lafazanis and Yanis Varoufakis/George Panagakis/ZumaPress

Een nieuwe aanpak van staatsschulden in de eurozone

ATHENE – De Griekse staatsschuld is terug op de Europese agenda. Dit is misschien wel het voornaamste wapenfeit van de Griekse regering na de vijf maanden durende patstelling met haar crediteuren. Na jaren van “extend and pretend” (verlengen en mooi weer spelen) is vandaag de dag bijna iedereen het erover eens dat schuldsanering van cruciaal belang is. En het belangrijkste is dat dit niet alleen voor Griekenland geldt.

In februari dit jaar heb ik als minister van Financiën de Eurogroep (waarin de ministers van Financiën van de lidstaten van de eurozone zitting hebben) een menu van opties voorgelegd, zoals bbp-geïndexeerde obligaties, waar Charles Goodhart zich onlangs positief over uitliet in de Financial Times, langlopende obligaties om de 'legacy debt' (de oude schulden die bijna niets meer waard zijn) in de boeken van de Europese Centrale Bank te vereffenen, enzovoort. Je hoopt dat het klimaat nu beter is om dit soort voorstellen wortel te laten schieten, voordat Griekenland nog verder wegzinkt in het drijfzand van de insolvabiliteit.

Interessanter is de vraag wat dit alles betekent voor de eurozone als geheel. De scherpzinnige oproepen van Joseph Stiglitz, Jeffrey Sachs, en vele anderen tot een andere benadering van staatsschulden in het algemeen moeten worden aangepast aan de specifieke karakteristieken van de crisis in de eurozone.

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