\nMul\u0163i au \u00eencercat s\u0103 dea vina pe politica agresiv\u0103 de relaxare a B\u0103ncii Centrale Europene pentru acest fenomen, despre care criticii spun c\u0103 restr\u00e2nge perspectivele de cre\u015ftere pe termen lung. Banca central\u0103, \u00eentre timp, sus\u0163ine c\u0103 al\u0163i factori sunt determinan\u0163i, cum ar fi schimb\u0103rile structurale din economie, care duc la o profitabilitate mai redus\u0103 indiferent de nivelul dob\u00e2nzilor.<\/p>\n
\nSolu\u0163ia, spune aceasta, nu const\u0103 \u00een majorarea dob\u00e2nzilor, ci \u00een adoptarea de reforme structurale. Oricum ar sta lucrurile, o nou\u0103 cauz\u0103 a fenomenului a ie\u015fit la lumin\u0103: sus\u0163inerea gvernamental\u0103 destinat\u0103 firmelor \u00een timpul pandemiei. Iar \u00een ultima vreme o serie \u00eentreag\u0103 de note ale anali\u015ftilor \u015fi think tank-uri analizeaz\u0103 modul \u00een care acest fenomen afecteaz\u0103 m\u0103sura \u00een care companiile nevitale b\u00e2ntuie Europa.<\/p>\n
\n\u00centr-o not\u0103 a b\u0103ncii franceze Natixis se estimeaz\u0103 c\u0103 propor\u0163ia companiilor zombie a crescut de la 3,5% la \u00eenceputul anilor \u201890 la aproape 11% \u00een 2008 \u015fi 21% \u00een 2019.<\/p>\n
\nA determina adev\u0103ratele companii zombie din r\u00e2ndul celor mumificate acum de sus\u0163inerea de stat, dar capabile ulterior s\u0103 se dezvolte odat\u0103 cu relaxarea carantinelor este o sarcin\u0103 extrem de dificil\u0103, fapt remarcat de Natixis, care arat\u0103 c\u0103 trebuie mai \u00eent\u00e2i s\u0103 \u015ftim care este forma redres\u0103rii.<\/p>\n
\nPentru a cunoa\u015fte adev\u0103rata amploare a problemei, va trebui s\u0103 mai a\u015ftept\u0103m, scrie Financial Times.<\/p>\n
\nFenomenul nu se limiteaz\u0103 la zona euro. \u015ei \u00een America num\u0103rul companiilor zombie este \u00een cre\u015ftere puternic\u0103, noteaz\u0103 Bloomberg. De la Boeing, Carnival \u015fi Delta Air Lines, la Exxon Mobil \u015fi Macy\u00eds, multe dintre cele mai representative companii din SUA nu c\u00e2\u015ftig\u0103 suficient pentru a-\u015fi acoperi cheltuielile legat de dob\u00e2nzi (un criteriu cheie pentru statutul de zombie).<\/p>\n
\nAproape 200 de companii au intrat \u00een categoria zombie de la \u00eenceputul pandemiei, relev\u0103 o analiz\u0103 Bloomberg. Chiar \u015fi mai grav, acestea \u015fi-au ad\u0103ugat datorii de aproape 1.000 mld. $ \u00een bilan\u0163uri, obliga\u0163iile totale ating\u00e2nd acum 1.360 mld. $, peste dublul sumei de 500 mld. $ datorat\u0103 de companiile zombie la v\u00e2rful crizei financiare.<\/p>\n
\nConsecin\u0163ele pentru redresarea economic\u0103 a Americii sunt profunde. Ajut\u00e2nd sute de firme cu probleme s\u0103 c\u00e2\u015ftige acces practic nelimiat la pie\u0163ele de credit, strategii direc\u0163ioneaz\u0103 probabil neinten\u0163ionat capital c\u0103tre firme neproductive, pun\u00e2nd presiune pe ocuparea for\u0163ei de munc\u0103 \u015fi cre\u015ftere economic\u0103 ani \u00eentregi de-acum \u00eencolo, avertizeaz\u0103 economi\u015ftii.<\/p>\n
\n <\/p>\n","protected":false},"excerpt":{"rendered":"
Dup\u0103 cum s-a \u00eent\u00e2mplat \u00een Japonia \u00een anii \u201890, anii \u00eentregi de dob\u00e2nzi sc\u0103zute \u015fi chiar negative din zona euro au dus la suspiciuni c\u0103 peisajul de business al regiunii ad\u0103poste\u015fte o multitudine de firme zombie, firme men\u0163inute artificial \u00een via\u0163\u0103 prin credite, scrie Financial Times.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[510],"tags":[201,11056],"class_list":["post-188695","post","type-post","status-publish","format-standard","hentry","category-actualitate","tag-companii","tag-financiar"],"_links":{"self":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/188695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=188695"}],"version-history":[{"count":1,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/188695\/revisions"}],"predecessor-version":[{"id":188713,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/188695\/revisions\/188713"}],"wp:attachment":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=188695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=188695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=188695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}