La tragedia griega del euro

AMSTERDAM – Cuando se introdujo el euro en 1999, los países europeos acordaron que la disciplina fiscal era esencial para su estabilidad. Si bien la moneda común ha beneficiado a todos los países que la han adoptado –entre otras cosas, como ancla en la crisis económica actual–, el incumplimiento de su acuerdo por parte de los miembros de la zona del euro podría aún convertir esta moneda en un desastre.

De hecho, demasiados miembros actúan como si no existiera el Pacto de Estabilidad y Crecimiento. El estado de la hacienda pública griega, por ejemplo, es “un motivo de preocupación para toda la zona del euro”, según el Comisario de Asuntos Monetarios, Joaquín Almunia. Se espera que este año el déficit fiscal de Grecia alcance el 12,7 por ciento del PIB, lo que supera con mucho el límite del 3 por ciento del PIB fijado por el Pacto de Estabilidad y Crecimiento.

Naturalmente, todos los miembros de la zona del euro están superando el límite del déficit establecido por el Pacto de Estabilidad y Crecimiento a consecuencia de la crisis actual, pero pensemos en los Países Bajos, que lo harán este año sólo por segunda vez desde 1999. Cuando los Países Bajos superaron por primera vez ese límite –y sólo en el 0,1 por ciento del PIB–, el Gobierno adoptó inmediatamente  medidas rigurosas para frenar el déficit. Alemania y Austria actuaron del mismo modo. Esos países están ya esforzándose por reducir sus déficits, inflados por la crisis, lo antes posible.

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