ألمانيا ضد اليورو

برلين ــ عادة، يؤخذ الناس أو المؤسسات إلى المحاكم عندما تسوء الأمور وينشأ شجار حول من المسؤول عن الضرر. ومن هنا فإن الجلسة التي عقدتها المحكمة الدستورية الألمانية في الحادي عشر والثاني عشر من يونيو/حزيران للنظر في مشروعية ما يسمى بالمعاملات النقدية الصريحة التي أعلن عنها البنك المركزي الأوروبي كانت غريبة. فهنا يدور الشجار حول التدبير الأكثر نجاحاً على الإطلاق في مجال السياسة النقدية طيلة العقود الأخيرة ــ ليس فقط في أوروبا، بل وفي أي مكان آخر.

كان الإعلان عن خطة المعاملات النقدية الصريحة في يوليو/تموز من عام 2012 سبباً في خفض أسعار الفائدة على الشركات والحكومات على حد سواء، كما ساعد في عودة رأس المال الخاص المطلوب بشدة إلى الدول التي ضربتها الأزمة، وبالتالي ساعد في تخفيف الركود العميق في الدول الواقعة على أطراف أوروبا. وساعد الإعلان أيضاً في عودة أكثر الأصول ندرة: الثقة في قدرة اقتصاد منطقة اليورو وعملته، اليورو.

والأمر الأفضل على الإطلاق هو أن لا شيء من هذه الإنجازات تكلف يورو واحدا. فكل المطلوب كان مجرد تصريح من رئيس البنك المركزي الأوروبي ماريو دراجي ومجلس إدارة البنك بالاستعداد بالقيام "بكل ما يلزم" لشراء الديون السيادية للبلدان الأعضاء في منطقة اليورو، شريطة التزامها بالشروط المالية الأشد صرامة. وحتى الآن لم تتقدم أي دولة بطلب.

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