Il Fondo Monetario Internazionale Lotterà per l’Europa?

CAMBRIDGE – Davanti all’aggravarsi della crisi dell’eurozona, il Fondo Monetario Internazionale potrebbe finalmente riconoscere la necessità di rivedere il proprio approccio. L’appello della nuova amministratrice delegata Christine Lagarde che chiamava ad una ricapitalizzazione forzata del sistema bancario europeo in banca rotta è un buon inizio. La reazione esasperata dei funzionari europei – le banche stanno bene, insistono, hanno solo bisogno di un supporto in liquidità – dovrebbe rafforzare la determinazione del Fondo a preoccuparsi per l’Europa.

Fino ad ora, il Fondo ha sincopatamente supportato ogni iniziativa dell’Europa per salvare la sovra-indebitata periferia della zona euro, consegnando più di 100 miliardi di dollari a Grecia, Portogallo ed Irlanda. Sfortunatamente, il FMI sta rischiando non soltanto i soldi dei suoi membri ma, in definitiva, la sua stessa credibilità istituzionale.

Soltanto un anno fa, al meeting annuale del FMI a Washington, DC, lo staff più esperto diceva a tutti quelli che volevano ascoltare che tutto il panico per la crisi del debito sovrano in Europa era una tempesta in un bicchier d’acqua. Usando presentazioni ben congegnate con titoli del tipo “Default nelle odierne economie avanzate: Inutile, Indesiderabile, Improbabile”, il Fondo ha tentato di convincere gli investitori che il debito dell’eurozona era solido come una roccia.

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