Herbstbeginn: Katerstimmung in der Eurozone

NEW YORK: Nach einem Sommer, in dem die Europäer ihre Sorgen vergessen und sich am Strand in die Sonne legen konnten, ist jetzt die Zeit gekommen, wo sie sich den Realitäten stellen müssen. Denn die grundlegenden Probleme der Eurozone bleiben ungelöst.

Erstens: Das eine Billion Dollar schwere Rettungspaket im Mai hat zwar die unmittelbare Zahlungsunfähigkeit Griechenlands und ein Auseinanderbrechen der Eurozone verhindert. Aber inzwischen sind die Risikoaufschläge für Staatsanleihen der Randstaaten der Eurozone wieder auf den Stand geklettert, den sie auf dem Höhepunkt der Krise im Mai hatten.

Zweitens: Die getürkten „Stresstests“ sollten die Märkte überzeugen, dass die europäischen Banken lediglich 3,5 Milliarden Euro frisches Kapital brauchten. Jetzt aber weist die irische AIB allein möglicherweise eine Kapitallücke von bis zu 70 Milliarden Euro auf, und das wirft ernste Bedenken über den tatsächlichen Zustand anderer irischer, spanischer, griechischer und deutscher Banken auf.

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