terça-feira, setembro 21, 2010

A Europa debate como evitar uma nova crise financeira

Excelente artigo no NYTimes (que estranho ser num jornal americano... pensando bem, não será assim tão estranho!) sobre o que está em discussão, na Europa, para evitar uma nova crise financeira. Ficam algumas passagens (o artigo pode ser lido aqui).

"The sovereign debt crisis showed the inherent problems of running a currency union without central fiscal authority. Yet sovereign countries are reluctant to hand over politically tricky tax and spending policy to an unelected committee."


"One alternative being discussed would be to withhold so-called structural and cohesion funds, which are allocated by Brussels primarily to the bloc’s poorer nations. Mr. Strauss-Kahn also suggested that fines could be “smoothed” over time by trimming such transfers."


"There also has been a suggestion of suspending political voting rights for countries that breach budget limits.(...) But officials worry about the political fallout and whether Paris or Berlin would be willing to apply the sanction to themselves."


"One involves how to calculate the level of debt. Several of the union’s newer member states argue that pension obligations must be considered when calculating debt levels. Italy is pressing for private as well as public debt to be taken into account."


"David Clark, a former adviser to the British government on European affairs, said tinkering with the current rules would only prolong the “inherent instability” of the economic and monetary union.

He said a fundamental problem needed to be addressed, formally or informally: how to “rebalance” the euro zone’s structure. Currently, he argued, Germany’s export-oriented economy is accruing the benefits, while poorer neighbors are being forced to retrench."

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