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Cause della crisi da debito sovrano

Quella che l’Europa e, più in generale, le economie Occidentali e in minima parte anche quelle Emergenti, stanno strenuamente affrontando si può a ben diritto definire quale una nuova crisi, una seconda crisi, una crisi consequenziale, successiva e, per certi versi, necessaria, di quella che, nel 2008, colpì l’intero globo a seguito della scomparsa nel nulla di Lehman Brothers (e di moltissimi miliardi di dollari).

Si tratterebbe, infatti, di una crisi da debito sovrano che, come si intuisce dal nome, è causata dall’incredibile indebitamento raggiunto dagli Stati nazionali.

POLITICA FISCALE


La vera questione, però, quella che vogliamo analizzare in questa sede, riguarda le cause di questo indebitamento.

Perché, dunque, gli Stati si sono così pericolosamente indebitati?

La risposta, in effetti, è molto semplice e, per certi versi, intuitiva, ma, comunque, dalla portata clamorosa. La causa di questo grave indebitamento è conseguenza diretta di quella prima crisi della quale parlavamo.

DEBITO PUBBLICO USA 2011

Allora, come molti ricorderanno, si creò una situazione per la quale le banche, i principali motori dell’economia grazie agli ingentissimi capitali che, quotidianamente mobilitano in favore dei consumatori e degli imprenditori, erogando credito al consumo, finanziamenti per investimenti, prestiti e molto altro, si riempirono, letteralmente, di strumenti finanziari decisamente pericolosi ed imprevedibili, quali i mutui subprime, concessi senza conoscere le reali capacità di solvenza dei debitori. Quando, poi, la bolla immobiliare scoppiò, l’economia si bloccò di botto e qualsiasi movimentazione finanziaria cessò di botto a causa della mancanza di fiducia tra gli istituti di credito che, ovviamente, non potevano sapere quanti strumenti a rischio possedessero partner e concorrenti e, dunque, volerono eliminare qualsiasi esposizione.

DEBITO PUBBLICO ITALIANO 2011

Un situazione di codesto tipo, per un’economia come la nostra che deve continuamente girare pena l’entrata in una spirale discendente di portata inimmaginabile, dovette, nel più breve periodo di tempo possibile, venir cambiata.

A farlo furono proprio gli Stati, gli unici a disporre dei mezzi e delle capacità per gettare banconote nella locomotiva dell’economia così che continuasse a muoversi.

Ci riuscirono, però, soltanto indebitandosi grandemente, riducendo le entrate per non gravare troppo sulla popolazione, già provata dagli eventi, ed aumentando le uscite.