Italský odliv kapitálu

MNICHOV – V srpnu se evropská krize platební bilance rozšířila mimo okraj eurozóny a začala sužovat Itálii. Úroková rozpětí italských vládních dluhopisů se postupně zvyšovala a vládu premiéra Silvia Berlusconiho to znepokojilo natolik, že zavedla úsporný program. Evropská centrální banka pak pomohla s dodatečnou likviditou.

ECB dala centrálním bankám všech členských zemí eurozóny pokyn, aby během krize nakupovaly obrovské množství italských vládních dluhopisů. Národní centrální banky sice neprozradily, kolik dluhopisů koupily, ale celkový objem všech nakoupených vládních dluhopisů se zvýšil ze 74 miliard eur 4. srpna na 165 miliard eur tento měsíc. Převážnou část tohoto zvýšení pravděpodobně představoval nákup italských vládních dluhopisů.

Německá Bundesbanka, která byla nucena nakoupit většinu zmíněných dluhopisů, se proti tomuto programu ostře stavěla, ale nedokázala mu zabránit. V reakci na to rezignoval hlavní ekonom ECB Jürgen Stark. Následoval tak prezidenta Bundesbanky Axela Webera, který kvůli předchozím odkupům dluhopisů odstoupil z funkce v únoru. Nový prezident Bundesbanky Jens Weidmann je rovněž otevřeným odpůrcem programu a německý prezident Christian Wulff veřejně obvinil ECB, že obchází Maastrichtskou smlouvu.

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