Se latelang ke karolo e qotsitsoeng bukeng e ncha e hlōlehileng: Seo 'Litsebi' li se Fositseng ka Moruo oa Lefatše ka Mark Weisbrot (Oxford University Press, 2015):
Har'a mehlala eohle ea ho hloleha ha leano la neoliberal ho tloha ka Ho putlama ho hoholo ha moruo, koluoa ea eurozone e hlahella e le mosebetsi oa bonono. Ba boholong Europe ba entseng bohlasoa bona—Khomishene ea Europe, European Central Bank (ECB) le International Monetary Fund (IMF)—e tsejoang e le “troika”—ba fana ka e ’ngoe ea lipontšo tse hlakileng ka ho fetisisa, tse khōlō ka ho fetisisa mehleng ea kajeno. tshenyo e ka bang teng ha batho ba dibakeng tse phahameng ba fosa melao ya bona ya motheo ya moruo o moholo. Hore e etsahetse ka har'a sehlopha sa moruo o phahameng o nang le litsi tsa demokrasi tse neng li tsoetse pele ho etsa hore e be matla le ho feta.
Hoa hlokahala ho re mekhatlo ea demokrasi "e neng e tsoetse pele hantle" hobane linaha tsa eurozone li ile tsa nehelana ka litokelo tsa tsona tsa boipuso ho laola maano a tsona a bohlokoa ka ho fetisisa a moruo: leano la pele la lichelete le phapanyetsano, ebe leano le ntseng le eketseha la lichelete bakeng sa linaha tseo ho thoeng ke tsa PIIGS (Portugal). , Italy, Ireland, Greece, le Spain). Joalo ka ha re tla bona, ena e bile tahlehelo e kholo ea puso ea demokrasi, 'me e' ngoe eo baahi ba limilione tse mashome ba li-euro ba neng ba tla e lefa haholo lilemong tse latelang mathata a lichelete a lefats'e le ho putlama ha 2008-2009, le bakeng sa lilemo tse seng kae tse tlang. .
Baahi ba bangata ba sebaka sa euro ba ne ba sa utloisise hore na ba lahleheloa ke eng ha Tumellano ea Maastricht e ne e saenoa ka 1992, ’me euro e ne e hlahisoa ka 1999. U ne u ke ke ua bona ho fihlela ho e-ba le ho putlama ho hoholo ha moruo—ha ’muso o ne o hlile o hloka ho sebelisa. maano a katoloso a moruo o moholo ho khutlisetsa kholo le mesebetsi. Eaba re fumana hore hase feela hore qetello ea Maeurope a mangata e ne e le matsohong a batho ba neng ba batla ba sa ikarabelle ka ho feletseng ho bakhethi; ho ne ho le hobe ho feta moo. Matla a ne a se a le matsohong a batho ba neng ba e-na le merero ea bona ea lipolotiki le moruo, bao, joalo ka ha re tla bontša, ba boneng tlokotsi e le monyetla oa ho kenya tšebetsong liphetoho tse neng li ke ke tsa hlola li hlōloa ka lebokoseng la likhetho.
Ho bona phapang ea lefats'e lipakeng tsa balaoli ba moruo ba sa ikarabelleng le ba ikarabellang ka mokhoa o itseng, re hloka feela ho bapisa ts'ebetso ea moruo ea eurozone le ea United States lilemong tse ts'eletseng kamora ho putlama ha Lehman Brothers ka Mphalane 2008. United States, e neng e le sehlohlolong sa seo e neng e tla ba ho putlama ha lefatše, ho bile le ho putlama ho ileng ha nka likhoeli tse 18 ka molao; Ho putlama ha eona ho ile ha phatlalatsoa ka Phuptjane 2009. Ha e le hantle, e ne e le ho putlama ho hobe ka ho fetesisa ha moruo ha US ho tloha ka Ho putlama ho Hoholo ha Moruo, 'me lilemo tse fetang tse nne kamora ho putlama ha moruo, maemo a mesebetsi a ne a batla a tšoana le a neng a le botebong ba ho putlama ha moruo. . Ho hlaphoheloa ha US e ne e se letho leo a ka ithorisang ka lona; ke liphetho tse mpe haholo feela tsa eurozone tse ka etsang hore e shebahale hantle. Ka February 2014, eurozone e ne e ntse e le haufi le ho tlaleha ho hloka mosebetsi ha karolo ea 12 lekholong (ho bapisoa le karolo ea 6.7 lekholong ea US); 'me GDP e ne e oele ka bobeli ba 2012 le 2013. 'Me linaheng tse otlang ka thata joaloka Greece le Spain, ho hloka mosebetsi ho ne ho fetile karolo ea 27 le 26 lekholong, ka ho latellana, ha ho hloka mosebetsi ho bacha ho feta 58 le 53 lekholong.1
Ka 2013 mebuso e fetang 20 e ne e oele sebakeng sa li-euro, empa khatello e ne e ntse e le teng. Sena se ne se ke ke sa etsahala United States, moo le haeba khaello ea hawk Republican Mitt Romney e ne e khethiloe ka 2012, a ka be a sa ka a iteta sefuba ho thefula moruo oa Amerika ho putlama. Sepheo sa hae sa pele, se kang sa bo-ralipolotiki ba bangata, e ne e tla ba ho khethoa hape, ’me ho ne ho ke ke ha e-ba le balaoli ba kantle ba ka mo qobellang ho ipolaea lipolotiking.
Joale ho na le phapang e kholo lipakeng tsa leano la lichelete linaheng tsena tse peli. Le hoja ka molao Fed le ECB ka bobeli li ikemetse, ho na le likhato tsa boipuso 'me ba bang ba ka re, thuto; mme Fed e ile ea sebetsa ka tsela e fapaneng haholo le ea ECB lilemong tse hlano tse fetileng. US Federal Reserve, e neng e theoletse sekhahla sa likalimo tsa pholisi ea eona ho zero bofelong ba Tšitoe 2008, e ile ea e boloka e le noto kapa haufi le lefela bakeng sa lilemo tse tšeletseng tse latelang. E le mokhoa oa ho fana ka khothatso e eketsehileng ka litebello tse susumetsang, Fed e boetse e hlakisitse hore litefiso tsena tse "tlase haholo" li tla tsoela pele ka "nako e telele."
Ka lehlakoreng le leng, ECB e hlile e phahamisa litekanyetso habeli bohareng ba 2011, ho ea ho karolo ea 1.5 lekholong, ho sa tsotellehe bofokoli ba moruo oa eurozone. Empa ntho ea bohlokoa le ho feta e ne e le leano la Fed la chelete e fetang $ 2.3 trillion of quantitative easing (QE), eo ECB e neng e hanne ho e nahana, ho sa tsotellehe taba ea hore e ne e hlokahala haholo Europe-ho fanoe ka potoloho e sehlōhō ea litšenyehelo tse ntseng li eketseha tsa ho alima. e sokeloa ho tsoa taolong linaheng tse fokolang tsa moruo, ho kenyeletsoa linaha tse "kholo haholo-holo tse hlolehileng" tsa Italy le Spain. Ka QE, joalo ka ha re tla bona, Europe e ka be e ile ea hlaphoheloa kapele joaloka United States, 'me ehlile ka potlako haholo haeba linaha tseo e leng litho li ne li e-na le bokhoni le boikemisetso ba ho kenya letsoho leanong la ho atolosa lichelete. ECB, joalo ka Federal Reserve, e laola chelete e thata mme e ka etsa chelete. Ka hona, e bile le bokhoni ba ho thibela sekoloto se ikemetseng sa linaha tsa eurozone hore se se ke sa fetoha koluoa ho tloha qalong. E ne e hlile e na le bokhoni ba ho boloka litšenyehelo tsa nako e telele tsa likalimo bakeng sa linaha tsa eurozone, ho kenyeletsoa le Greece, li le tlase kamoo e neng e batla kateng - joalo ka ha Fed e entse United States ha khaello ea lichelete tsa federal ea US e ntse e nyolohela tlalehong ea ka mor'a Ntoa ea II ea Lefatše. ho feta liphesente tse 10 tsa GDP.
Fed's QE e ile ea boela ea fana ka lichelete bakeng sa 'muso ho matlafatsa moruo ka ho sebelisa chelete le ho fokotsa lekhetho, ntle le ho eketsa moroalo oa eona oa likoloto. Sena ha se boselamose empa ke melao feela ea accounting, e kopantsoeng le moruo oa moruo o fokolang. Ha Fed e etsa chelete ka QE, 'me e e sebelisa ho reka libond tsa nako e telele tsa US Treasurybond, e khutlisa litefo tsa tsoala ka libonto tsena ho Polokelo ea Lichelete. Sena se bolela hore mmuso o fumana chelete e lekanang le kalimo e se nang tsoala, 'me moroalo oa eona oa likoloto ha o nyolohe. Joale e ka sebelisa chelete ena bakeng sa ntho leha e le efe-ho haha mohaho oa motheo o sebetsang hantle haholoanyane, mohlala, kapa mofuta ofe kapa ofe oa leano la ho atolosa lichelete. Ka bomalimabe, United States, ’muso oa kopanelo ha oa ka oa sebelisa monyetla ona oa “chelete ea mahala” kamoo o neng o ka khona kateng. E, ehlile ke chelete ea mahala-ka theko ea theko ea bareki ka liperesente tse 0.8 bakeng sa 2014 United States le liperesente tse mpe tsa 0.2 ho eurozone, ha ho na phoso ho theho ea chelete ena, kaha ha ho na kotsi e kholo ea hore inflation e tla fetoha haholo. hodimo.
Ke hopola ke bua ka litaba tsena le sehlopha sa litho tsa paramente tsa Jeremane, tse tsoang mekhang eohle e meholo ea lipolotiki, ka Loetse 2011. E mong oa bona o ile a hanyetsa hore ho ke ke ha khoneha ho rekisa khopolo ea maano a ho atolosa moruo o moholo, haholo-holo a amanang le chelete. pōpo, ho sechaba sa Majeremane se neng se ntse se e-na le mehopolo ea nalane ea hyperinflation e senyehileng ea bo-1920. Ke ne ke sitoa ho bua le seo-e seng setsebi sa maikutlo a sechaba sa Jeremane-empa karabo ea ka e ne e le hore haeba sena se ne se hlile se le joalo, se ne se bontša bothata ba thuto ea sechaba, eseng bothata ba moruo.
'Me thuto ea sechaba ke karolo e kholo ea pale ena. Ke pale eo ho eona batho ba bangata—Europe, United States, le karolo e khōlō ea lefatše—ba ’nileng ba lula ba khelosoa mabapi le semelo le lisosa tsa mathata a moruo a ntseng a mpefala. Ke joang hape ho ka hlalosang hore na bothata bo bakiloeng ke ho alima chelete ho feta tekano ke mekhatlo ea poraefete bo ile ba rekisetsoa sechaba joang e le bothata bo bakiloeng ke mebuso e hanang ho phela ka chelete ea bona? Joale e ile ea mpefatsoa ke ho hatelloa ha lichelete, ho isa bohōleng ba ho sutumelletsa moruo oa sebaka ka har’a lilemo tsa ho putlama le ho putlama. Koluoa e ntseng e mpefala joale e ile ea sebelisoa ho lokafatsa maano a neoliberal - ho kenyeletsoa ho fokotsa lipenchene tsa sechaba, ho fokotseha ha mekhatlo ea sechaba, lits'ebeletso tsa poraefete, le ho nolofalletsa basebetsi ho lelekoa. Tatelano ena ea masisa-pelo a ntseng a eketseha a bakoang ke leano la ’muso—e tsamaeang le liphetoho tse ntseng li fokotseha tsa meralo—e ka etsahala feela haeba letšoele le pharaletseng la sechaba, ho kopanyelletsa le baqolotsi ba litaba ba bangata le bo-ralipolotiki, le ferekanngoa ka ho tebileng mabapi le hore na ho fosahetse hofe le hore na mekhoa e meng e ka khonehang ea moruo e fumaneha joang.
Empa ho utloisisa hore na ho etsahetse joang re boetse re lokela ho sheba hore na baetsi ba liqeto-tabeng ena seo ho thoeng ke troika-ba entse liqeto tsa bona, haholo-holo ba sa itšetlehe ka maikutlo a baahi mabapi le se nepahetseng le se fosahetseng. Bakeng sa seo re tlameha ho retelehela ho mathata a lichelete a qalileng mathoasong a 2010.
Mathata e le Monyetla: Troika e nka Motsotso oa ho fetola Europe bocha
Mathata a limmarakeng tsa lichelete tsa eurozone a qalile e le bothata ba likoloto tsa Greece tse ka beng li laolehe habonolo. Moruo oa Greece o ka tlase ho karolo ea 2 lekholong ea GDP ea eurozone eo hona joale e leng litho tse 19, 'me linaha tse ling tsa euro li ne li behelletse ka thōko mehloli e mengata e lekaneng ea ho rarolla mathata a Greece mathoasong a 2010 ha sekoloto sa Greece se qala ho sitisa mebaraka ea lichelete. Empa pele e fela, koluoa e ne e tla sutumelletsa eurozone ho putlama ha nako e telele ka ho fetesisa le tlhokeho ea mesebetsi e phahameng ka ho fetesisa, le ho etsa hore Europe e be eona e hulang moruo oa lefatše.
Qetellong ea 2011, linaha tseo ho thoeng ke tsa BRICS—Brazil, Russia, China, India le South Africa—li ne li thaothoa ho thusa Europe ka ho reka tse ling tsa libonto tsa tsona kapa ka menehelo e tsamaisoang ke IMF. Phoso ke efe ka setšoantšo see? India e na le moputso oa motho ka mong oa $3,400,3 ka tlase ho karolo ea borobong ea eurozone; Brazil e na le batho ba limilione tse 42 ba phelang ka chelete e ka tlaase ho $ 4 ka letsatsi. ho hlaphoheloa ha eurozone esale ho khoneha ntle le thuso ea kantle.
Mathata a eurozone a atisa ho hlalosoa mecheng ea litaba e le "bothata ba likoloto," kapa haholo-holo e le "bothata bo boholo ba likoloto." Empa sena se khelosa haholo. Haeba re sheba lipalo le nalane ea morao-rao, re bona tlokotsi e bakiloeng le ho tebisoa ke maano a mabe. Har'a linaha tsa PIIGS, ke Greece feela eo ho ka boleloang hore e ikahetse moroalo o sa tsitsang oa mekoloto pele koluoa ea lichelete le ho putlama ha lefatše ka 2008-2009 ho fihla Europe. Ba bang ba hlile ba fokolitse likarohano tsa bona tsa mokoloto ho GDP nakong ea lilemo tsa 2003-2008.6 mokoloto oa sechaba oa Spain, mohlala, o ile oa theoha.
Liphesente tse 41.3 ho isa ho tse 30.6 tsa GDP nakong ea lilemo tsena.7 Italy e ne e le kholoanyane, ka liperesente tse 89.3 tsa GDP,8 empa ka khaello e tlase ea tekanyetso le phaello e tlase ho ne ho se lebaka la hore sekoloto se joalo se nkoe se sa tsitsa ho fihlela tsamaiso e mpe ea Moruo oa eurozone o rometse litšenyehelo tsa ho alima tsa Italy holimo haholo.
Esita le Greece, ha e ntse e buisana ka tumellano ea eona ea pele le IMF ka May 2010, e ne e e-na le sekoloto sa karolo ea 130 lekholong ea GDP, 9 e neng e ka khona ho laoleha ka phaello e tlaase, 'me moroalo oa likoloto o fokotsehile ha nako e ntse e feta ka kholo e utloahalang. Likhoeli tse leshome le metso e supileng hamorao, ka mor'a hore moruo oa eona o fokotsehe ka taelo ea ba boholong Europe, sekoloto sa eona se ne se nyolohetse ho karolo ea 170 lekholong ea GDP. "moriri" bakeng sa ba-bond-ke hore, phokotso ea karolo ea 10 lekholong ea mosuoe-hlooho oa mokoloto oa sechaba oa Greece o neng o tšoeroe ke batho ba ikemetseng ba ikemetseng - e ne e ntse e sa lekana ho beha Greece tseleng e tsitsitseng ea likoloto. Bothata bo ka beng bo ile ba rarolloa—ka ho fetisisa—ka liphesente tse ’maloa feela tsa lichelete tseo ba boholong Europe ba neng ba li beheletse ka thōko bakeng sa morero ona, bo ile ba fetoha bothata ba lichelete bo ileng ba sokela moruo oohle oa Europe kotsing. Ena e ne e le phello e ’ngoe ea seo litsebi tsa moruo li se bitsang pro-cyclical macroeconomic policy—ho thefula moruo ha o ne o se o ntse o fokola kapa o putlama.
Ho tloha qalong ea tlokotsi ena, ba boholong Europe ba ne ba e-na le matla, lisebelisoa, le bokhoni ba ho tlisa tsosoloso e matla ea khōlo le mosebetsi. E ne e le thato e neng e haella. Bahlalosi ba bangata le bahlahlobisisi ba totobalitse mathata a ho hokahanya leano la lichelete—haholo-holo tšebeliso ea chelete e neng e tla hlokahala ho khutlisetsa moruo oa eurozone tseleng. Tlaleho ea Majeremane a sebetsang ka thata, a baballang le batho ba bang ba Europe leboea ba neng ba le leqe ho tšehetsa mekhoa ea botsoa le ea ho ikhotsofatsa ea baahisani ba bona ba ka boroa e ile ea e-ba sehlooho se tloaelehileng mecheng ea litaba. Ehlile boholo ba sena ha se na motheo oa 'nete. Ka mohlala, Bagerike, ka karolelano, ba qeta lihora tse ngata haholo mosebetsing ho feta balekane ba bona ba Majeremane-hoo e ka bang 2,037 ka selemo ha ho bapisoa le 1,388 Jeremane. 'Me haeba re sheba bothata mabapi le hore na ke mang ea ruileng molemo ka ho fetisisa ho tloha lilemong tse ntle tsa euro, ha hoa hlaka: ho feta karolo ea 11 lekholong ea khōlo ea Jeremane ka ho atolosoa ho tloha 100 ho ea ho 2002 ho tsoa linaheng tse ling, boholo ba tsona. o ile a ea Europe. Keketseho e etelletsoeng pele ke kantle ho naha ea Jeremane le eona e ba thusitse ho eketsa tlhahiso le tlholisano ho tsa tlhahiso. Ha nako e ntse e ea, sena se betere haholo ho feta kholo e khannoang ke bubble eo linaha tse kang Spain le Ireland li bileng le eona nakong ea koluoa.
Sena ha se ho hana hore ho na le mathata a tebileng a ho qoba lekhetho bakeng sa batho ba fumanang meputso e phahameng le beng ba likhoebo ba Greece le Italy, kapa hore maikutlo a tsebahalang linaheng tse kang Jeremane kapa Finland a ka etsa hore ho be thata haholoanyane ho thusa linaha tse ling tsa eurozone tse mathateng. Empa koluoa ea eurozone ha ea ka ea tlisoa ke ho alima ho fetelletseng ha lefapha la sechaba. 'Me esita le maikutlo a "khahlanong le ho lefella chelete" linaheng tse ruileng hangata a nolofatsoa ho feta tekano - boholo ba eona hase feela leeme la bochaba khahlanong le batho ba Europe e ka boroa, empa hape e akarelletsa lehloeo le amohelehang le tloaelehileng khahlanong le ho lefella libanka tsa Europe.
Empa mathata ana kaofela ke a bobeli ha a bapisoa le bothata ba mantlha le bo sa utloisisoeng hantle ba leano le nang le phoso la moruo o moholo. Haeba e ne e se bakeng sa tšenyo ea moruo e bakiloeng ke ba boholong Europe ho 2010-2013, Maeurope a ka be a bile le lilemo tse ngata ho leka ho lokisa mathata a moralo le a lipolotiki a eurozone-haeba ke seo batho le baemeli ba bona ba khethiloeng. batla ho etsa. Ke 'nete hore hoa khoneha hore thato ea lipolotiki e se ke ea e-ba teng ho etsa liphetoho tse neng li tla hlokahala ho boloka chelete e tloaelehileng ka nako e telele. Empa ka lilemo tse fetang tse 'nè ('me li ntse li tsoela pele), ba boholong Europe ba ile ba kenya ts'ebetsong maano a ileng a fokotsa moruo oa eurozone, 'me boholo ba nako eo, maano a eketsehileng a bakileng mathata a tebileng a lichelete. Sena se ka etsa hore ho be thata le ho feta, kapa ho sa khonehe, ho sebetsana le mathata a khokahano ea maano kapa mathata a mang a sebopeho sa eurozone.
Joalokaha ho boletsoe ka holimo, boemo ba likoloto tsa Greece bo ile ba fetoloa ho tloha nthong e ka beng e rarollotsoe ka mokhoa o batlang o le bonolo, le ka mehloli e fokolang, ho ba moferefere o ke keng oa qojoa le o tšoaetsanoang. 'Me koluoa e matla eo eurozone e ileng ea e-ba le eona ho tloha ka Phupu 2011 ho fihlela Phato 2012 e ne e ipapisitse le matšoenyeho a limmaraka tsa lichelete ao ba boholong Europe ba ka a etsetsang Italy seo ba se entseng Greece. Ha IMF e tlameha ho theola likhakanyo tsa eona tsa kholo ea moruo oa Italy, lipakeng tsa ponelopele ea eona ea Mmesa le Loetse ka 2011,12 e bile sephetho se tobileng sa sephutheloana sa $ 74 bilione eo balaoli ba Europe ba ileng ba e qobella ho mmuso oa Italy.
Ka May 2010, ’muso oa Greece e bile oona oa pele oa ho fumana chelete ho tsoa ho ba boholong Europe ho tšehetsa chelete ea ho khutlisa sekoloto sa oona hobane ho ne ho se ho sa khonehe ho alima limmaraka tsa lichelete. “Mmoho le balekane ba rona ba European Union, re fana ka tshehetso eo ho seng e kileng ya ba teng ho thusa Greece boitekong bona le—ha nako e ntse e tsamaya—ho thusa ho tsosolosa kgolo, mesebetsi le maemo a hodimo a bophelo,” ho boletse Molaodi wa IMF Dominique Strauss-Kahn. ka ho phatlalatsa tumellano ea li-euro tse limilione tse likete tse 110 tse tla abuoa nakong ea lilemo tse tharo tse tlang.13
Mantsoe a bohlokoa e ne e le "ha nako e ntse e feta." IMF le balekane ba eona ba ne ba tseba hore ho tiisa lichelete ho tla mpefatsa lintho. "Kholo ea 'nete ea GDP e lebelletsoe ho hola haholo ka 2010-2011," ho boletse Letlole, empa le eketsa ka hore "ho tloha 2012 ho ea pele, kholiseho e ntlafalitsoeng ea mmaraka, ho khutlela mebarakeng ea mekoloto, le liphetoho tse felletseng tsa meralo, li lebelletsoe ho lebisa ho putlama. kgolong.”14
Karolo ea pele ea polelo eo e ile ea phethahala, 'me GDP e ile ea theoha ka liphesente tse 11.7 nakong ea 2010–2011.15 Empa karolo ea bobeli e ne e le toro e kholo. Ka Tšitoe 2011, Mokhatlo oa Tšebelisano-’moho le Tsoelo-pele ea Moruo (OECD) o ne o bolela esale pele ho theoha ho hong ho eketsehileng ka karolo ea 3 lekholong bakeng sa 2012,16 e ileng ea fetoha karolo ea 7 lekholong.
Ha ho makatse, kaha mmuso oa Greece o itlamme ho fokotsa $28.3 bilione, kapa 12% ea GDP, ho tsoa tekanyetsong ea eona ho fihlela 2015, le ho theola karolo ea 20 lekholong ea basebetsi ba lefapha la sechaba nakong ea lilemo tse nne tse tlang. ho tsetela naheng e itlammeng ka lilemo tsa ho putlama ha moruo?
IMF e ile ea lokafatsa mehato ena ka lebaka la hore mokhoa o mong - tokiso ea mokoloto - o bile le kotsi e kholo ea ho tšoaetsanoa Europe kaofela, moo libanka li neng li tšoere mokoloto oa Greece oa limilione tse likete tse makholo a libilione. Empa hobane sephutheloana sa "bailout" se ile sa senya moruo oa Greece mme ka hona sa eketsa kotsi ea pherekano, tharollo eo ba e ratang e ile ea mpefatsa ts'oaetso.
Tšabo ea hore batšoaruoa ba Bagerike ba tla qetella ba lahlehetsoe, le hore Portugal, Ireland, mohlomong esita le Spain li ne li tla latela tsela ea Greece li ile tsa qala ho kenella mebarakeng ea lichelete. Ka la 9 Motšeanong, 2010, ECB e ile ea re e tla kena-kenana le mebaraka e ikemetseng ea li- bond, e fetola qeto eo matsatsi a mane a fetileng a neng a entse hore limmaraka li theohe. ho ts'oara mathata a lichelete ao balaoli ba Europe ba neng ba a qalile. Tšabo ea hore ho se sebetse hantle ha Bagerike le litlamorao tsa eona li ka baka karohano ea euro e ile ea qala ho sisinya limmaraka.
Letsatsing le hlahlamang, ba boholong Europe (ho kenyeletsoa le IMF) ba ile ba fihlela tumellano ea letlole la lidolara tse libilione tse neng li reretsoe ho "tšosa le ho hlolloa" limmaraka tsa lichelete ho lumela hore ho se be teng ha mebuso efe kapa efe ea eurozone litlamong tsa bona ho ne ho sa khonehe- sible.20 Limmaraka tsa lichelete le tsa lichelete qalong li ile tsa phahama ka lebaka la karabelo, empa ho ne ho e-na le moferefere o tšabehang joalo ka 'nete e behiloeng hoseng ho latelang. Nakong ena sekoloto sa Italy, se neng se le seholo ho feta seo
ea linaha tse ling tsohle tse nang le mathata a eurozone ha li kopantsoe, li ne li e-so nkoe li le kotsing.
Empa le bakeng sa ba bang, ho kenyeletsoa Spain, ho ne ho se ho hlakile ho ba bangata hore ntle le boitlamo ba ECB ba ho boloka litšenyehelo tsa ho alima ho fihlela maemo a tsitsitseng, letlole la "bailout" le tla thusa mebuso feela ho bokella mokoloto o mongata, oo ba o entseng. qetellong e tla tlameha ho hloleha. Ba boholong Europe ba ne ba ntse ba e-s’o itokisetse ho nahana ka tharollo leha e le efe e sebetsang. Ka ho theha matla a lichelete e le tlhokahalo ea ho fumana lichelete tsa Europe/IMF, ba tiisitse hore mathata a likoloto a tla mpefala le ho feta.
Ntlheng ena, esita le limmaraka tsa bond, tseo ka tloaelo li kopanang ha mebuso e itlama ho fokotsa tekanyetso, e ile ea qala ho fetoha Keynesian e makatsang: ka linako tse ling litheko tsa bond li ne li tla oela litabeng tsa hore Greece, ka mohlala, e ne e tla kenya ts'ebetsong ho feta tekano. Ka Pulungoana 2010, mmuso oa Ireland o ile oa fetoha moruo oa bobeli oa eurozone ho saena tumellano le IMF le balaoli ba Europe, kamora hore lihlahisoa tsa bona tsa bond ea lilemo tse 10 li fete liperesente tse 8. Portugal e ne e tla ba ea boraro, ka May 2011. Litumellano tse nyarosang tseo lilemong tse mashome tse fetileng, kotlo e fuoeng linaha tse nang le meputso e tlase le e mahareng tse nang le mathata a ho lefa, joale e ne e se e le pheletso ea maemo a holimo. chelete lichaba tsa Europe. E ne e le bothata ba maiketsetso le bo e-s'o ka bo e-ba teng ba "tekanyo ea litefello": tsena e ne e le mebuso e nang le chelete e thata e ka hlahisoang ke "banka" ea bona e bohareng. Empa banka e bohareng e ne e hlile e se ea bona, ka bomalimabe, 'me e ne e sa tl'o etsa seo banka e bohareng ea United States kapa United Kingdom e neng e ikemiselitse ho se etsa ho rarolla bothata bona. litšenyehelo tsa ho alima tsa linaha tse tlokotsing. Boemo ba tlokotsi bo qalileng ka Phupu 2011 bo bile tjena. Boiketlo, hammoho le ho putlama ha moruo oa libaka, ho ne ho etsa hore moruo oa Italy o hole butle kapa hona ho putlama.
Kholo e liehang ea moruo e etsa hore meputso ea mmuso e theohe ('me litšenyehelo tse ling li eketsehe ka bo eona), ka hona, lipehelo tsa khaello tse tšepisitsoeng li thata le ho feta ho fihlela. Joale 'muso o hatelloa hore o nke mehato e mengata ea ho fokotsa tšebeliso ea chelete (le / kapa ho eketsa lekhetho). Sena se boetse se fokotsa kholo ea moruo. Ts'ebetso ena e tsoela pele ho ea holimo, joalo ka ha ho etsahetse Greece. 'Me molato oa Italy, oo ka nako eo e neng e le $ 2.6 trillion, o ne o feta oa Greece ka makhetlo a mahlano. ka hona letoto la likoluoa limmarakeng tsa lichelete.
Kopo ea IMF bakeng sa Tokiso ea Boemo ho tloha ka Mots'eanong 2010 e beha molato oa 2009 ho "kaholimo ho liperesente tse 115" tsa GDP. IMF, “Greece: Request for Stand-By Arrangement,” May 10, 2010. Retrieved February 11, 2015, from http://www.imf.org/external/ li-pubs/ft/scr/2010/cr10111.pdf.
10. IMF, “Maemo a Moruo wa Lefatshe Mphalane 2014,” Mphalane 2014. E fumanwe ka Hlakola 6, 2015, ho tswa ho http://www.imf.org/external/pubs/ft/weo/2014/02/weo- data/index.aspx.
11. OECD, “Level of GDP per Capita and Productivity,” 2012. E khutlisitsoe May 2014 ho tloha http://stats.oecd.org/Index.aspx?DataSetCode=PDB_LV.
12. Ponahalo ea Moruo oa Lefatše oa April 2011 e ne e lebelletse kholo ea GDP ea 1.1 lekholong ka 2011, karolo ea 1.3 lekholong ka 2012, le karolo ea 1.4 lekholong ka 2013.
13. IMF, “IMF e Amohela Kalimo ea €30 Bln bakeng sa Greece ka Potlako,” Patlisiso ea IMF inthaneteng, la 9 Motšeanong 2010, https://www.imf.org/external/pubs/ft/survey/so/2010/ NEW050910A.htm.
14. IMF, “Greece: Staff Report on Request for Stand-By Arrangement,” leq. 140. E khutlisitsoe ka la 6 Hlakola, 2015, ho tloha http://www.imf.org/external/pubs/ft/ scr/2010/cr10110.pdf
15. IMF, “Maemo a Moruo wa Lefatshe, Mphalane 2014,” Mphalane 2014. E fumanwe ka Hlakola 6, 2015, ho tswa ho http://www.imf.org/external/pubs/ft/weo/2014/02/ weodata/index.aspx.
16. OECD, “Greece,” ho OECD Economic Outlook, Moq. 2011, Khatiso ea 2 (Paris: OECD Publishing, 2011).
17. IMF, “Maemo a Moruo wa Lefatshe, Mphalane 2014,” Mphalane 2014. E fumanwe ka Hlakola 6, 2015, ho tswa ho http://www.imf.org/external/pubs/ft/weo/2014/02/ weodata/index.aspx.
18. Lekala la Lichelete la Greece, “Greece: Medium-term Fiscal Strategy 2012–15,” June 2011, http://www.minfin.gr/sites/default/files/financial_files/MTFS.pdf
19. Banka e Khōlō ea Europe, “ECB e Etsa Qeto ka Mehato ea ho Rarolla Mathata a Matehali Mebarakeng ea Lichelete,” 10 May 2010, http://www.ecb.europa.eu/press/ pr/date/2010/html/pr100510.en.html.
20. Julien Toyer le Ilona Wissenbach, “’Shock and Awes’ Euro Rescue E phahamisa Limmaraka tsa Lefatše,” Reuters, May 10, 2010, http://www.reuters.com/article/2010/05/10/ us-eurozone-idUSTRE6400PJ20100510.
- Eurostat, "Sekhahla sa ho Hloka Mosebetsi ka Lihlopha tsa Thobalano le Lilemo-Karolelano ea Khoeli le Khoeli, %," 2014. Retrieved May 2014 ho tloha http://appsso.eurostat.ec.europa.eu/nui/show. etsa?dataset=une_rt_m&lang=en.
- Board of Governors of the Federal Reserve System, “FOMC Statement,” March 18, 2009. Retrieved May 12, 2014, ho tloha http://www.federalreserve.gov/ newsevents/press/monetary/20090318a.htm.
- Ho reka mantsoe a parity ea matla.
- Socio-Economic Database for Latin America and the Caribbean (CEDLAS le World Bank), “Poverty.” E tlisitsoe ka May 2014 ho tloha http://sedlac.econo.unlp. edu.ar/eng/statistics.php.
- PPP ea sebaka sa Euro ka GDP ea motho ka mong ke $34,016, athe ea China ke $9,844. Sheba Letlole la Machabeng la Lichelete, “Pono ea Moruo oa Lefatše April 2014,” Mmesa 2014, http://www.imf.org/external/pubs/ft/weo/2014/01/weodata/index.aspx.
- Sheba Mark Weisbrot, "Ke Eng e Latelang bakeng sa Eurozone? Leano la Macroeconomic le Ho putlama ha Moruo,” Setsi sa Lipatlisiso tsa Moruo le Leano, la 17 Mmesa, 2013, http://www.cepr.net/events-archive/what-next-for-the-eurozone-macroeco- leano-le-nomic-le-the-the-theo-le-theoha.
- IMF, “Maemo a Moruo wa Lefatshe Mmesa 2014,” Mmesa 2014, http://www.imf.org/ external/pubs/ft/weo/2014/01/weodata/index.aspx.
- Kakaretso ea sekoloto ho GDP ka 2008. IMF, “World Economic Outlook October 2014,” October 2014. E tlisitsoe ka Hlakola 6, 2015, ho tloha http://www.imf.org/external/ pubs/ft/weo/2014/02/weodata/index.aspx.
- IMF, “Maemo a Moruo wa Lefatshe Mphalane 2014,” Mphalane 2014. E fumanwe ka Hlakola 6, 2015, ho tswa ho http://www.imf.org/external/pubs/ft/weo/2014/02/weo- data/index.aspx.
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