Il cambio della guardia monetaria

NEW YORK – Con il cambio di leadership che interessa, o interesserà a breve, varie banche centrali, molti di quelli che furono in parte responsabili della crisi economica mondiale nel 2008 – prima di intraprendere azioni forti per evitare il peggio – stanno lasciando l'incarico tra giudizi contrastanti. La domanda adesso è in che misura tali giudizi influenzeranno il comportamento dei loro successori.

Molti operatori del mercato finanziario sono grati per il lassismo normativo che ha permesso loro di accumulare enormi profitti prima della crisi, e per i generosi salvataggi che, pur conducendo l'economia globale quasi alla rovina, li hanno aiutati a ricapitalizzare, spesso aggiudicandosi mega bonus. Il denaro facile ha consentito sì di ripristinare i prezzi dei titoli azionari, ma potrebbe anche aver creato nuove bolle speculative.

Nel frattempo, il Pil di molti paesi europei continua a essere nettamente inferiore ai livelli pre-crisi. Negli Stati Uniti, nonostante la crescita del Pil, la maggior parte dei cittadini versa in condizioni finanziarie peggiori rispetto a prima della crisi, perché da allora i guadagni di reddito hanno riguardato quasi esclusivamente le fasce più alte.

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