Lecciones griegas para Europa

“Sólo cuando baja la marea se sabe quién nadaba desnudo”, fue la aguda observación del legendario inversionista Warren Buffet cuando golpeó la crisis económica. Y, como hemos descubierto mientras tanto, esto es tan cierto para los países como lo es para las compañías. Tras Irlanda, Grecia es ahora el segundo miembro de la eurozona que se ha metido en enormes problemas de pago debido a la crisis, casi hasta el punto de la bancarrota nacional.

Irlanda pudo solucionar   estos problemas por si sola a través de una política de reestructuración dolorosa pero inquebrantable. Pudo hacerlo porque su economía, aparte de su excesiva carga de deuda tras el colapso de una burbuja de activos, era básicamente sólida.

La situación en Grecia es diferente. Será mucho más difícil una reestructuración de la economía, porque tendrá que tener un alcance mayor. El déficit fiscal que hay que enfrentar fue resultado no sólo de desequilibrios financieros internos, sino también de un sistema político que por demasiado tiempo se negó a ver la realidad y permitió que el país viviera más allá de sus posibilidades.

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