Würfeln für Zypern

PRINCETON – Die Aufgabe war nie einfach: der Regierung und den Bankkunden Zyperns den Verlust von circa 5,8 Milliarden Euro auferlegen. Und jetzt hat diese Aufgabe Europa in die neueste Sackgasse geführt.

In Marathon-Verhandlungen erklärte sich die zyprische Regierung, unter der Aufsicht der Troika (Europäische Kommission, Europäische Zentralbank und Internationaler Währungsfonds), einverstanden, Bankeinlagen mit einer einmaligen „Steuer“ zu belegen. Aber trotz einer Ergänzung, die Konten ausschloss, deren Guthaben weniger als 20.000 Euro betrugen, hat das zyprische Parlament den Plan mit eine überwältigenden Mehrheit abgelehnt, sodass Zypern – und Europa – sich jetzt im Schwebezustand befinden.

Tatsächlich sind Bankkunden mit großen Einlagen ähnlich wie große Anleihegläubiger, und der vorgeschlagene Abschlag war ein kleiner aber willkommener Schritt vorwärts. Aber da er nicht weit genug ging, blieb noch immer eine Lücke. Es gab andere Optionen. Lee Buchheit, der altgediente, auf Staatsschulden spezialisierte Rechtsanwalt, der mit am Tisch hätte sitzen müssen, und Mitu Gulati von der Duke University, haben eine elegante Neuprofilierung der 15 Milliarden Euro Staatsschulden Zyperns vorgeschlagen, die den Finanzierungsdruck auf das Land sofort gemildert hätte. Aber derartige Erwägungen waren vom Tisch, lange bevor die Verhandlungen begannen.

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