際通貨基金（IMF)の主任経済士のオリビエ·ブランチャード(Oliver Blanchard)は、2008年に始まった金融危機·経済不況は10年位続き、税制統合(財政統合?)銀行統合は必要と主張
El FMI augura una crisis de 10 años
El economista jefe del Fondo, Olivier Blanchard, aconseja más inflación en Alemania
Aboga porque cada país encuentre el ritmo adecuado para reducir la deuda
El País Madrid 3 OCT 2012 - 16:55 CET
The IMF predicts a crisis 10 years
The Fund's chief economist, Olivier Blanchard, suggest more inflation in Germany
Advocates that each country find the right pace to reduce debt
The Country Madrid 3 OCT 2012 - 16:55 CET
The chief economist of the International Monetary Fund (IMF), Olivier Blanchard, believes it will take a decade to overcome the financial and economic crisis that began in 2008 and warns that debt reduction too quickly can choke the economy. "We can not yet speak of a lost decade but since the outbreak of the crisis will typically spend at least a decade for the world economy out of it," Blanchard says in an interview published today by the Hungarian economic website portfolio.hu.
The IMF official said that the high level of debt in many European countries is dangerous, because it could lead states to declare default. "Unquestionably, we must reduce the debt," he says. However, calls for each country to find its proper pace because if it drops too fast, you can choke the economy, while if the reduction is slow, "the markets do not take it seriously."
At the same time, the economist said that "not only necessary, but desirable, that inflation in Germany is higher", which clashes with the precepts frontalemente government of Angela Merkel. Blanchard justifies that this would increase the real wages of the Germans and thus its purchasing power, but on the opposite side would reduce the value of their savings, which are mostly deposited in financial products and not, as in Spain, property .
The economist said that if the European Central Bank (ECB) is to maintain its official target of 2% while the settings are applied, could allow central countries will be above that marker, while in the European periphery would be below. According to Blanchard, this policy does not imply cause hyperinflation, and that the balance will remain "thanks to the general conditions of demand and the ECB's commitment to price stability.
Regarding the eurozone, Blanchard considered important to have a fiscal union and bank and you decide to "take a step forward or backward." "One thing is certain, you can not go where you are now. Do not think anyone would want to take a step back," he stresses.
Blanchard also recalls that, although the focus now is on Europe's problems, other regions also face significant challenges. The U.S. budget problems, adjustments in Japanese public accounts and slowing growth in China are some of the problems mentioned by the IMF economist.
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