Les banques allemandes : cigales ou fourmis ?

CHICAGO – Le remède au malaise économique actuel de l’Union européenne exigerait, comme l’admettent la grande majorité des observateurs, une intégration plus poussée, dont la première étape prendrait la forme d’une union bancaire supervisée par la Banque centrale européenne. Or, cette union bancaire en Europe nécessiterait également un certain nombre de règles uniformes afin d’appréhender l’insolvabilité des institutions financières – et c’est sur ce point que se jouent de plus en plus les frictions.

L’Allemagne est opposée au nouveau mécanisme de résolution bancaire proposé par la Commission européenne, générant un soutien moral et politique dans le pays en présentant sa position comme un effort de protection des contribuables allemands : pourquoi les fourmis allemandes devraient-elles payer pour les cigales du sud de l’Europe ? En réalité, la posture de l’Allemagne constitue un stratagème destiné à dissimuler un comportement anticoncurrentiel consistant pour le gouvernement à subventionner le secteur et les banques allemandes au détriment de tous – y compris des contribuables allemands.

Le marché commun européen constitue la plus grande réussite des politiques européennes d’après-guerre, ayant permis de stimuler la croissance économique et de favoriser les échanges culturels. Mais l’existence d’un marché commun exige que celui-ci se joue sur un terrain équitable, et la Commission européenne a travaillé dur au fil des années pour atteindre cet objectif dans de nombreux secteurs.

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