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

Ein neuer Ansatz für die Staatsschulden in der Eurozone

ATHEN – Die öffentlichen Schulden Griechenlands sind wieder auf der europäischen Tagesordnung gelandet. Während der lähmenden fünfmonatigen Pattsituation mit ihren Gläubigern war dies vielleicht die Haupterrungenschaft der griechischen Regierung: Nach Jahren des „Verlängerns und Vortäuschens“ sind sich heute fast alle darüber einig, dass eine Umstrukturierung der Schulden nötig ist. Am wichtigsten ist, dass dies nicht nur für Griechenland gilt.

<>Im Februar schlug ich der Eurogruppe (bestehend aus den Finanzministern der Mitgliedstaaten der Eurozone) mehrere Optionen vor, darunter BIP-indizierte Anleihen, für die sich Charles Goodhart kürzlich in der Financial Times eingesetzt hatte, unbefristete Anleihen zur Begleichung der Altschulden in den Büchern der Europäischen Zentralbank, und so weiter. Hoffentlich ist jetzt der Weg dafür bereitet, solche Vorschläge anzunehmen, bevor Griechenland noch tiefer im Treibsand der Insolvenz versinkt.

Aber die interessantere Frage ist, was all dies für die Eurozone als Ganze bedeutet. Die in weiser Voraussicht getätigten Forderungen von Joseph Stiglitz, Jeffrey Sachs und vielen anderen nach einem veränderten allgemeinen Ansatz für Staatsschulden müssen so angepasst werden, dass sie die besonderen Merkmale der Eurozonenkrise widerspiegeln.

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