Una nueva prueba griega para Europa

PRINCETON – Durante el último año resultó fácil perder de vista la crisis de la deuda griega. Llena hasta el borde de fondos oficiales, Grecia parecía camino a recuperarse. Si bien los planes de privatización se demoraron, los griegos obtuvieron buenas notas por redoblar la austeridad fiscal. En un verano europeo de silencioso triunfalismo, las expectativas cada vez menos exigentes fueron fáciles de satisfacer.

Pero Grecia va camino a poner nuevamente a Europa a prueba, seriamente.

La crisis griega fue espectacularmente enorme. Una vez que se reveló que sucesivos gobiernos habían logrado déficits fiscales y desequilibrios económicos colosales a fuerza de engaños, Grecia perdió el acceso a los mercados internacionales de bonos. Desde 2010, el país ha dependido de fondos de rescate oficiales de magnitud inaudita. Pero, como los acreedores de Grecia –el Fondo Monetario Internacional y gobiernos europeos– malinterpretaron los desafíos que el país enfrentaba, al rescate meramente retrasó la inevitable cesación de pagos de la deuda soberana y causó que la economía griega se contrajera bruscamente, intensificando el dolor.

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