Dammbruch in der Eurozone

PRINCETON – Ist das Zentrum Europas brüchig geworden, während aller Augen auf die Peripherie gerichtet waren? Die Bundesbank hat ihre Prognose für das jährliche BIP-Wachstum Deutschlands für 2013 auf 0,4 % gesenkt. Die Zentralbank der Niederlande erwartet, dass das niederländische BIP in diesem Jahr um 0,5 % schrumpft – und 2014 weiter abnimmt.

Die Krise der Eurozone könnte in ihre dritte Phase eintreten. In der ersten Phase, die im Frühjahr 2008 begann, verlagerte sich der Hauptschauplatz der Nordatlantik-Krise von den Vereinigten Staaten in die Eurozone. Banken in der Eurozone gerieten unter Druck und die Spannungen zwischen den Banken nahmen zu.

In der zweiten Phase, die im Frühjahr 2009 ihren Anfang nahm, breitete sich die Krise auch auf souveräne Staaten aus, da die Investoren zunehmend Angst bekamen, dass die Staatskassen durch die Unterstützung der Banken belasten würden. Die staatliche Schwäche ließ die Banken wiederum riskanter erscheinen, und das Schicksal der Banken und ihrer jeweiligen Regierungen wurde unzertrennlich miteinander verbunden.

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