Paul Lachine

I laboratori anglosassoni sul budget

BRUXELLES – La recente minaccia di un declassamento del debito pubblico statunitense da parte dell’agenzia di rating Standard and Poor’s è stata un fulmine a ciel sereno. Un tempo limitati a pochi paesi canaglia, ora le preoccupazioni per il debito pubblico gravano sulle principali e più ricche economie.

Il messaggio a tutti i governi è lampante. Se la qualità persino delle obbligazioni statunitensi, tradizionalmente i beni finanziari più sicuri, vengono ora messe in discussione, significa che nessun paese è ormai immune da eventuali attacchi. Pertanto la questione oggi è non tanto se sia o meno il momento di ridurre i deficit, bensì quanto rapidamente, in che entità e attraverso quali mezzi sia necessario farlo.

In Europa, il Cancelliere tedesco, Angela Merkel, viene vista come una forte sostenitrice di tagli drastici al deficit. Ma se da un lato le piace usare toni forti, dall’altro agisce in modo cauto e, ad oggi, gli adeguamenti della situazione fiscale tedesca sono effettivamente molto graduali. I paesi in cui la battaglia sul budget sarà dura e pesante sono Regno Unito e Stati Uniti i cui deficit hanno superato il 10% del PIL nel 2010.

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