Albistea: Varoufakis refuses any bailout plan that would send Greece into ‘death spiral’1
EBZko Mario Draghi Washington-en egon da politika monetarioaz hitz egiteko (Grezia aipatu barik).
Nazioarteko Moneta Fondoko (NMF) Christine Legarde-k Draghi aurkeztu zuen ‘maixu’ gisa2.
Draghi-k QE izeneko politikaren defentsa gogorra egin zuen3, fruituak lortzeko beharko den denbora, indarrean egongo dela aipatuz4.
Hala ere, Draghi-k EBZren barruan aurkako jendea dauka. Kasu, Jens Weidmann-ek elkarrizketa luze bat eman zuen (interview with German newspaper Handelsblatt), QE kondenatuz5 eta Greziari emandako sostengua zalantzan jarriz.
Izan ere, Bundesbank-eko burua den Weidmann kexu agertu zen EBZk Greziarekiko daukan erlazioaz, eurogunean EBZk ezin dielako kide estatuei diru laguntza zuzenki luzatu, arauez6. Eta esanez Emergency Liquidity Assistance (ELA) delakoaren maila altxatuz, arau horiek hausten dituela EBZk7.
Weidmann-en ustez, EBZ ez da ‘ahalguztiduna’.
Gauzak ‘borobiltzeko’, Legarde-k ohartarazi zuen politika monetarioa ez zatekeela aski izango hazkunde global ahuleko tarte luzea saihesteko.
Hortaz, zertarako balio du QE horrek?
(Gogoratu blog honetako QE inozoentzat8 izeneko sarrera.)
1 Ikus http://www.theguardian.com/business/2015/may/14/yanis-varoufakis-refuses-bailout-plan-send-greece-into-death-spiral.
2 Ingelesez: Legarde “… introduced him as “maestro” – the nickname once given to Federal Reserve chairman Alan Greenspan.”
3 Ingelesez: “… the ECB has taken a series of unconventional measures to prevent a too prolonged period of low inflation and deliver its mandate. Those measures have proven so far to be potent, more so than many observers anticipated.”
4 Ingelesez: “After almost seven years of a debilitating sequence of crises, firms and households are very hesitant to take on economic risk. For this reason quite some time is needed before we can declare success, and our monetary policy stimulus will stay in place as long as needed for its objective to be fully achieved on a truly sustained basis.”
5 Ingelesez: “The question remains whether the QE programme was really necessary given our primary aim of price stability and how we should assess the risks and side-effects that inevitably come with such a scheme.”
6 Honela gehituz: “… many in Germany feel that by repeatedly increasing the ceiling for Emergency Liquidity Assistance to Athens, the ECB is breaking that rule.”
7 Ingelesez: “Given the ban on monetary financing of states, I don’t think it’s OK that banks which don’t have access to the markets are being granted loans which then finance the bonds of their government, which doesn’t have access to the markets itself.”
