Cette article de Benedicta Marzinotto, publié sur Project Syndicate, montre la vulnérabilité et le fragilité de la zone Euro en dépit des réformes structurelles mises en oeuvre. En cas de nouvelle crise, les pays les plus endettés seraient à nouveau dans la tourmente.
“Despite recently experiencing an overall economic uptick, the eurozone remains fragile and uninsured against the risk of another crisis. And a major reason is that it is still vulnerable to asymmetric boom-and-bust cycles.
Simply put, while all eurozone members can benefit during good times, some suffer far more than others during busts. This means that whenever the next crisis hits, safety-conscious investors will flee from fiscally weak countries toward fiscally strong ones that have a proven track record of generating economic growth….”
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