Piccole Economie, Grandi Problemi ed Interdipendenza Globale

WASHINGTON, DC – Il PIL della Grecia, di circa 300 miliardi di dollari, rappresenta approssimativamente lo 0.5% del prodotto mondiale. Il suo debito pubblico, pari a 470 miliardi di dollari, appare molto grande relativamente all'ampiezza del sistema economico greco ma costituisce solamente l'1% del debito mondiale -di cui quasi la metà è nelle mani di banche private (per lo più greche). Berclays Capital stima che le importanti banche straniere  in cui il 10% del  patrimonio di classe 1 è costituito da titoli di Stato greci sono poche, mentre la maggior parte  ne detiene molto meno.

Dunque, almeno sulla carta, la Grecia non dovrebbe essere un’economia importante da un punto di vista sistemico. Tuttavia esistono svariate regioni per le quali la crisi greca sta comportando sostanziali effetti di spillover. E per di più ciò non sta accadendo unicamente in Grecia.

In primo luogo, nel caso della Grecia, si teme che  altre economie europee in difficoltà, come il Portogallo e l'Irlanda, o persino la Spagna e l'Italia, vengano contagiate. Inoltre, diversi fondi americani del mercato monetario detengono strumenti emessi da alcune delle banche a rischio.

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