Mario Draghi - "More Europe"Mario Draghi - "More Europe"

Posted at 2012. 7. 31. 01:13 | Posted in 경제학/일반


http://www.ecb.int/press/key/date/2012/html/sp120726.en.html
"Speech by Mario Draghi, President of the European Central Bank at the Global Investment Conference in London" - 2012.07.26


"The last summit was a real success because for the first time in many years, all the leaders of the 27 countries of Europe, including UK etc., said that the only way out of this present crisis is to have more Europe, not less Europe. (...)

When people talk about the fragility of the euro and the increasing fragility of the euro, and perhaps the crisis of the euro, very often non-euro area member states or leaders, underestimate the amount of political capital that is being invested in the euro.

And so we view this, and I do not think we are unbiased observers, we think the euro is irreversible. And it’s not an empty word now, because I preceded saying exactly what actions have been made, are being made to make it irreversible.

But there is another message I want to tell you.

Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough."



유럽경제위기를 넘기기 위해, 또 유럽통합의 구상을 실현시키기 위해
유럽이 Political Union 결성에 성공한다면....

며칠 전, ECB(유럽중앙은행) 총재인 Mario Draghi의 이 선언은 역사에 남을 듯.

Mario Draghi 총재의 이 선언 직후, 유럽 금융시장은 조금이나마 안정을 되찾았고, 현재의 경제위기를 넘길 수 있다는 자신감을 조금이나마 얻은 상태.

거의.. 선동문 역할을 하고 있는 Draghi 총재의 선언..


PS

물론, '더 강한 통합'은 달성하기 쉽지 않다.
달성하기 어려운 유럽의 Political Union.

"Euro EUphemism". <Economist>. 2012.07.28

"Europe’s political union is an idea worthy of satire". <FT>. 2012.07.29


PS 2

Mario Draghi 총재의 선언을 보고 칼럼을 남긴 Paul Krugman

"Crash of Bumblebee". <NYT>. 2012.07.29

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유로존의 근본적 결함 - '더 강한 통합'은 가능할까?유로존의 근본적 결함 - '더 강한 통합'은 가능할까?

Posted at 2012. 7. 27. 01:08 | Posted in 경제학/2010 유럽경제위기


http://www.economist.com/blogs/freeexchange/2012/07/euro-crisis-6?fsrc=scn%2Ftw_ec%2Fthe_origins_of_money_and_saving_the_euro
"The origins of money, and saving the euro". <Economist>. 2012.07.25


"The key relationship in the C team model is the centrality of the link between political sovereignty and fiscal authority on the one hand and money creation, the mint and the central bank on the other. 

A key fact in the proposed Euro system is that the link is to be weakened to a degree rarely, if ever, known before. … 

There is to be an unprecedented divorce between the main monetary and fiscal authorities … the C team analysts worry whether the divorce may not have some unforeseen side effects.

The logical conclusion from this is not a new idea: the euro area needs greater fiscal integration. But the reason is different. It is not because Greece and Spain spoiled a perfect plan with their profligacy. It is because the euro enshrines the divorce of fiscal and monetary power."


유로존의 근본적 결함은 "돈 만드는 곳 따로, 돈 쓰는 곳 따로" 라는 점.
(돈 버는 곳이 아니라 돈 '만드는 곳')

유럽국가들이 유로존 해체를 원하지 않는다면 선택할 수 있는 방법은 하나 뿐.
"더 강한 통합" : politic union→fiscal union→bank union


그런데 유럽에서 가장 강하고 큰 경제를 가지고 있는 국가가 '독일'이라는 게 함정. 

다른 유럽국가들은 제2차세계대전의 기억이 있기 때문에, 독일의 '재정간섭'을 '주권침해'로 인식. 

'더 강한 통합'이 해결책인 것은 알지만 그게 현실화 될 수 있을까?


 다른 유럽국가들이 '독일'을 어떻게 바라보는지를 잘 설명하고 있는.. 재미있는 그림.





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