Bilan positif pour la Banque centrale européenne

Le 1° janvier, l'euro célébrait son sixième anniversaire. Nous pouvons aujourd'hui revenir sur cette période durant laquelle la Banque centrale européenne (BCE) a mené une politique monétaire orientée vers la stabilité de l'euro dont dépendent plus de 300 millions de citoyens.

C'est là un résultat remarquable. En 1993, quand le traité de Maastricht a été ratifié, peu de gens croyaient que l'Union économique et monétaire allait aboutir. L'objectif du traité était généralement reconnu valable, mais réalisable seulement dans un futur lointain. A la surprise de nombreux observateurs, l'Europe a fait preuve de détermination pour que la monnaie unique devienne une réalité.

Une politique monétaire unique dans une zone formée par 11 et ensuite par 12 pays, chacun avec son propre gouvernement, était quelque chose d'entièrement nouveau. Serait-elle compatible avec les politiques budgétaires nationales ? Etant donné le caractère décentralisé du système, les intérêts nationaux n'allaient-ils pas interférer avec la politique monétaire ?

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