Il Pensiero Economico Dominante dell’Europa

FRANCOFORTE – Nel corso della recente audizione sulla costituzionalità delle misure della Banca Centrale Europea per evitare alla zona euro di andare in pezzi, Andreas Vosskuhle, Presidente della Corte Costituzionale tedesca, ha sollevato una domanda importante: “Gli economisti non tedeschi condannano le transazioni monetarie a titolo definitivo della BCE (OMT), come in modo inequivocabile testimoniano tutti gli esperti tedeschi, a parte uno?

Naturalmente, ci sono economisti tedeschi (per non parlare del governo della Cancelliera Angela Merkel) che sostengono le politiche del presidente della BCE Mario Draghi. Eppure, la stragrande maggioranza degli economisti tedeschi (e, eventualmente, olandesi e finlandesi) sembrano preferire che la BCE si mantenga ai margini della crisi della zona euro. È una questione fiscale, afferma il tipico economista tedesco, e le politiche monetarie non saranno d’aiuto; al contrario, l’interventismo potrà solo peggiorare le cose.

Naturalmente, tutti preferirebbero che la linea di demarcazione tra la politica monetaria e politica fiscale non divenisse sfocata a causa della crisi. Ma la cieca applicazione di questo principio sarebbe stata una scelta molto rischiosa per la BCE. Avrebbe significato l’accettazione, nel 2012, di ciò che è stato definito il “rischio di ridenominazione” – un termine in politichese economico per esprimere la rottura dell’eurozona.

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