Die Weltwirtschaft im Überblick

ISTANBUL – In den letzten vier Wochen bin ich nach Sofia, Kuala Lumpur, Dubai, London, Mailand, Frankfurt, Berlin, Paris, Peking, Tokio, Istanbul und durch die gesamten Vereinigten Staaten gereist. Infolgedessen lagen die zahllosen Herausforderungen, vor denen die Weltwirtschaft steht, nie allzu weit weg.

In Europa wurde das Extremrisiko eines Auseinanderbrechens der Eurozone und eines Verlusts des Marktzugangs Spaniens und Italiens durch die Entscheidung der Europäischen Zentralbank vom letzten Sommer verringert, die Schuldenländer zu stützen. Doch die grundlegenden Probleme der Währungsunion – ein niedriges Wachstumspotenzial, fortdauernde Rezession, der zunehmende Mangel an Wettbewerbsfähigkeit und hohe private und öffentliche Schuldenstände – sind weiter ungelöst.

Zudem bricht derzeit die zwischen dem Kern der Eurozone, der EZB und der Peripherie vereinbarte „große Lösung“ – schmerzhaftes Sparen und Reformen im Tausch gegen umfassende finanzielle Unterstützung – zusammen, da Sparmüdigkeit in den Randbereichen der Eurozone auf eine zunehmende Rettungsmüdigkeit in Kernländern wie Deutschland und den Niederlanden trifft.

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