Deux modèles pour une Europe

MUNICH – Les taux d'intérêt de la dette publique de la zone euro ont de nouveau augmenté, comme au moment du passage à l'euro  ; les inégalités de la balance des paiements ne cessent de se creuser  ; la crise de la dette souveraine est en train de miner toute l'Europe, et la fuite des capitaux s'accélère. Et depuis cet été, L'Italie et la France ont vu s'envoler quelques 300 milliards d'euros (en termes nets).

Les employés des presses à imprimer de la Banque de France et de la Banca d'Italia font des heures supplémentaires pour compenser les sorties d'argent, mais cela ne fait que favoriser la fuite des capitaux, car la création d'argent empêche la hausse des taux d'intérêt à un niveau qui s'avérerait stable pour le capital.

Si l'Europe adoptait le même système que celui en vigueur aux États–Unis, où les banques régionales de la Réserve fédérale doivent payer la Fed avec des titres adossés au cours de l'or pour toute création de monnaie spéciale, elle n'aurait pas à créer beaucoup d'argent, et la fuite des capitaux resterait limitée. Au lieu de cela, l'argent imprimé à l'échelle locale joue un rôle considérable dans la fuite des capitaux.

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