Tim Brinton

La Torrentielle Chute de l'Euro

SUÈDE – À mesure que la crise et le désespoir se propagent dans toute l’Europe, les représentants de chaque pays jouent à s’accuser mutuellement – c’est in. Les reportages d’actualité, ainsi que les débats politiques et économiques, se concentrent désormais sur l'identification des coupables, les banquiers et les politiciens étant les principaux suspects.

Les banquiers sont condamnés parce qu’ils accordent des prêts de manière irresponsable, et parce que la spéculation a provoqué la chute des économies irlandaise et lettonienne, ainsi que des problèmes de taille dans des pays comme l'Espagne et le Portugal. Les politiciens sont condamnés parce qu'ils n'ont pas resserré les politiques budgétaires lorsque cela était nécessaire, afin d’éviter que des bulles immobilières, de mettre un frein aux déficits extérieurs, et de prévenir la surchauffe économique. Au moment de la publication de cet article, les bulles ont éclaté, l'inévitable effondrement du marché immobilier a été suivi par celui des banques, des finances publiques et des marchés de l’emploi – et les méchants doivent être punis.

Mais cet exercice populaire est dénué de pertinence. Les politiciens et les banquiers ont incontestablement commis les graves erreurs qui ont contribué à la crise actuelle. Mais même si les dirigeants politiques et financiers européens peuvent passer pour incompétents, l’augmentation soudaine du nombre de personnes inaptes ou immorales dans la zone euro n’explique pas cette crise de manière crédible. Les dirigeants irlandais et lettonien ont été élevés au rang de modèles ; la minute d’après, ils rejoignaient le troupeau des boucs émissaires.

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