Paul Lachine

Провал финансовой системы свободного рынка

ЛОНДОН – Спустя пять лет после краха американского инвестиционного банка Lehman Brothers мир все еще не устранил основную причину последующего финансового кризиса – избыток долгов. И именно поэтому восстановление экономики идет гораздо медленнее, чем ожидалось (в некоторых странах восстановления экономики не наблюдается вовсе).

Большинство экономистов, банкиров центральных банков и чиновников регулирующих органов не только не предвидели кризис, но также считали, что финансовая стабильность гарантирована при условии, что инфляция является низкой и стабильной. И после того как удалось сдержать непосредственный кризис, мы не смогли предвидеть, насколько болезненными будут его последствия.

Согласно официальным прогнозам весны 2009, не ожидалось ни того, что темпы восстановления будут медленными, ни того, что первоначальный кризис, который, в основном, был ограничен территорией США и Великобритании, вскоре спровоцирует цепную реакцию в еврозоне. И рыночные силы были далеки от того, чтобы предвидеть почти нулевые процентные ставки в течение пяти лет (и впоследствии).

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