Wie man den Euro zurückbaut

PARIS – Im Januar nannte der Chefökonom des Wirtschaftsforschungsunternehmens Markit, Chris Williamson, Frankreich „den neuen kranken Mann Europas“. Angesichts eines BIP-Wachstums in Nähe des Nullpunktes, steigender Arbeitslosigkeit und einer wachsenden Staatsverschuldung – von der kontraproduktiven Sparpolitik ganz zu schweigen – ist dem schwer zu widersprechen. Und aufgrund der profunden Bedeutung Frankreichs für die wirtschaftliche und politische Stabilität Europas stellt dies eine große Bedrohung für das gesamte europäische Projekt dar.

Jüngste Entwicklungen bestätigen Williamsons Diagnose. Die französische Wirtschaftstätigkeit sank im Dezember auf den niedrigsten Stand in sieben Monaten. Obwohl die Steuereinnahmen im letzten Jahr um 32 Milliarden Euro stiegen, sank das öffentliche Defizit um nur acht Milliarden Euro, und die Staatsverschuldung stieg von 89% vom BIP auf mehr als 93%. Zugleich stieg die Arbeitslosigkeit von 9,5% auf 10,5%.

Die offensichtliche Schlussfolgerung ist, dass Sparen nicht die Antwort ist. Tatsächlich muss Frankreich seine derzeitige Politik um seiner selbst und des übrigen Europas willen aufgeben.

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