Actes de rééquilibrage économique

LONDRES – Nous savons tous comment la crise économique mondiale a commencé. Les banques ont prêté de manière excessive au marché du logement. L'éclatement de la bulle immobilière aux États-Unis a provoqué la faillite des banques, car le secteur bancaire avait pris une dimension mondiale et les grandes banques détenaient les mauvais prêts l’une de l’autre. Les défaillances bancaires ont provoqué un resserrement du crédit. Les prêts se sont taris et les économies ont commencé à se contracter.

Les gouvernements ont ensuite renfloué les banques et les économies, produisant une crise de la dette souveraine. Dès lors que tout le monde était occupé à se désendetter, les économies n'ont pas réussi à récupérer. Une grande partie du monde reste enlisée dans une semi-crise – surtout en Europe, mais aussi aux USA qui sont néanmoins un peu moins malades.

Comment pouvons-nous donc sortir de ce trou ? Le débat familier a lieu entre austérité et relance. Les « Austériens » croient qu’il n’y a que le rééquilibrage des budgets publics et la diminution des dettes nationales qui peuvent restaurer la confiance des investisseurs. Les Keynésiens pensent que, sans un vaste plan de relance budgétaire - une augmentation délibérée et temporaire du déficit, les économies européennes et américaines resteront empêtrées dans la récession pour les années à venir.

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