EZB nicht im Takt

Trotz der vor kurzem angekündigten koordinierten Bemühungen, die kurzfristige Liquidität im Bankensystem zu erhöhen, bleibt die Europäische Zentralbank im Vergleich zu den anderen wichtigen Zentralbanken in der industrialisierten Welt ernsthaft aus dem Takt. Die Vereinigten Staaten, Kanada und Großbritannien haben alle kürzlich ihre Zinssätze gesenkt. Doch wehrt sich die EZB standhaft gegen Senkungen. Nach dem Treffen des EZB-Rates im Dezember erklärte Bankpräsident Jean-Claude Trichet, dass einige Mitglieder sogar dafür waren, die Zinssätze zu erhöhen .

Wem machen sie da etwas vor? Jeder weiß, dass die EZB ihre Zinssätze weder jetzt noch in der nächsten Zeit erhöhen kann. Mitten in der gravierendsten Finanzkrise der letzten Jahre greift die EZB zu einem wenig überzeugenden Bluff, weil sie ein Problem mit den Inflationserwartungen hat.

Vorausgegangene Fehlentscheidungen sind für das aktuelle Dilemma der EZB verantwortlich.

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