Le dure politiche di risanamento dei conti pubblici messe in atto dai governi non avranno effetti positivi sull’economia reale: la dimensione dei debiti sovrani è ormai talmente grande che il modo di pensare tradizionale appare inadeguato. Un’analisi “fuori dal coro” dello scenario economico attuale.
Tag: Crisi del credito
Globalizzazione, crisi del credito, valuta di riserva. Verso il dollaro/renminbi?
On March 26, 2009 Zhou Xiaochuan, President of the People’s Central Bank of China, published on the Bank’s homepage a paper beginning with the following words:
“The outbreak of the current crisis and its spillover in the world have confronted us with a long-existing but still unanswered question, i. e., what kind of international reserve currency do we need to secure global financial stability and facilitate world economic growth [….]?” (Zhou 2009).
The statement hidden in question appears to make instantly obsolete any existing debate about the role of national currencies as international reserve currencies, and opens the door to a question not really discussed after Bretton Woods and the theses Keynes expounded in that occasion on the subject, that is, the need for an international reserve instrument other than a national currency.
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