Dean Rohrer

Letzter Countdown für den Euro?

Die Einführung des Euro im Jahre 1999 würde, so hieß es, die wirtschaftlichen Unterschiede zwischen den Ländern der Währungsunion verringern. Die Arbeitslosigkeit würde sich angleichen, und andere wichtige makroökonomische Variablen wie die Lohnstückkosten, die Produktivität, die Haushaltsdefizite und die Staatsverschuldung ebenso. Letztendlich würden die Vermögensunterschiede, gemessen am Pro-Kopf-Einkommen, abnehmen.

Nach dem ersten Jahrzehnt der gemeinsamen Währung sind jedoch statt rascher Konvergenz wachsende Unterschiede innerhalb des Euroraums die Norm, und man kann davon ausgehen, dass die Spannungen weiter zunehmen.

Die Unterschiede zwischen den Mitgliedsstaaten waren schon vor zehn Jahren groß. Der Euro wurde die gemeinsame Währung von so reichen Ländern wie Deutschland und den Niederlanden und erheblich ärmeren Ländern wie Griechenland und Portugal. Zugleich wurde er zur Währung der für ihre Innovativität und Marktflexibilität bekannten Finnen, aber auch der Italiens, dem beides fehlte, was dem Land den Spitznamen „der kranke Mann Europas“ eintrug.

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