Dean Rohrer

Sauvetage et croyances erronées

VARSOVIE – Le débat apparemment sans fin sur les difficultés fiscales de la zone euro s’est concentré sur les plans de sauvetage officiels, notamment sur les propositions d’achat, à très grande échelle, des obligations des États par la Banque centrale européenne. En effet, nous sommes quotidiennement mis en garde – par le Fonds monétaire international et bien d’autres – sur le risque de voir l’euro disparaître si les efforts de sauvetage ne sont pas considérablement renforcés.

Pour certains, cette position reflète les avantages qui seraient tirés de tels rachats ; pour d’autres, elle illustre un certain nombre de croyances erronées. Les créanciers soutiennent évidemment le sauvetage des pays débiteurs afin de se protéger eux-mêmes. Bon nombre de dirigeants politiques accueillent également favorablement les prêts officiels face à la crise, lesquels peuvent contribuer à relâcher la pression que les marchés exercent sur eux. Pendant ce temps, les médias s’épanouissent toujours autant dans le rôle de porteurs de mauvaises nouvelles.

Les croyances erronées, d’un autre côté, se reflètent dans des métaphores comme celles de « contagion » et d’ « effet domino », qui sous-entendent que les marchés financiers deviendraient aveugles, virulents et perdraient tout discernement lorsqu’ils sont bousculés. Toutes ces formules engendrent une peur selon laquelle, une fois perdue la confiance à l’égard d’un pays, tous les autres seraient également en danger. 

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