Tim Brinton

Die nächste Euro-Krise verhindern

LUXEMBURG – Derzeit wird viel Engagement und Energie auf die Institutionalisierung eines Krisenmechanismus für den Euroraum verwendet. Dies ist ein gutes und wichtiges Ziel. Doch eine bei weitem bedeutsamere Herausforderung – die in der dazugehörigen Debatte häufig angesprochen wird – ist die Notwendigkeit der Krisenprävention.

Beim Gipfeltreffen der Europäischen Union vor Weihnachten einigten sich die europäischen Staats- und Regierungschefs im Prinzip darauf, die in Luxemburg ansässige Europäische Finanzstabilisierungsfazilität (EFSF), die im Mai 2010 praktisch über Nacht zusammengeworfen wurde, 2013 mit einem neuen, permanenten Europäischen Stabilisierungsmechanismus zu ersetzen. In dieser Entscheidung – und in der Geschwindigkeit, mit der sie erreicht wurde – spiegelt sich die Einsicht wider, dass der institutionelle Rahmen des Euroraums unvollständig bleibt, bis es eindeutige Regeln zur Bewältigung von Finanzkrisen gibt.

Doch obwohl klar ist, dass der Euroraum über solide und gut ausgestattete Quarantänestationen verfügt, falls er noch einmal von einer finanziellen Ansteckung befallen werden sollte, wäre eine Impfung zur Vermeidung der Infektion wesentlich wirksamer. Leider erfährt die Entwicklung einer solchen Impfung in der politischen Arena zu wenig Beachtung.

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