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Convenienza nel dichiarare fallimento

In questi giorni come non mai si parla ampiamente dello stato di insolvenza, fallimento e default per uno stato. Abbiamo recentemente avuto modo di capire le cause del rischio di bancarotta per gli USA oltre che osservare lo stato economico di Grecia e Portogallo.



Una domanda però sorge spontanea, ma agli stati conviene entrare in bancarotta? La storia ci insegna che in realtà a livello economico ad uno stato conviene arrivare in default soprattutto perchè i risultati di PIL risultano essere decisamente superiori rispetto a quelli ottenuti prima che lo stato dichiarasse lo stato di insolvenza. E’ obbligatorio però ricordare che uno stato quando dichiara fallimento risulta essere declassato dalle società di rating e così facendo sarà molto più difficile ottenere soldi in prestito dagli investitori sottoforma di obbligazioni.

DEBITO PUBBLICO ITALIANO 2011

Si pensi ad esempio agli Stati Uniti in cui gran parte del proprio debito risulta essere detenuto da stati esteri come ad esempio la Cina, un crack americano aumenterebbe senza alcun dubbio la pressione dello stato asiatico nei confronti degli USA e contemporaneamente di tutti gli stati appartenenti al G8 tra cui quindi anche Italia, Germania e Francia. Nel grafico di Economist che vediamo studia l’andamento PIL prima e dopo la dichiarazione di fallimento. Il PIL prima della dichiarazione di stato di insolvenza è sempre minimo, è comunque doveroso ricordare che quando uno stato dichiara fallimento la propria economia è decisamente debole.