{"id":231861,"date":"2024-11-20T15:57:46","date_gmt":"2024-11-20T15:57:46","guid":{"rendered":"https:\/\/bm.dev.synology.me\/?p=231861"},"modified":"2026-04-10T19:18:14","modified_gmt":"2026-04-10T19:18:14","slug":"zona-euro-se-afla-la-marginea-prapastiei-bce-avertizeaza-asupra-unui-cocktail-exploziv-de-datorii-in-cazul-in-care-nu-vor-fi-adoptate-o-serie-de-masuri-urgente","status":"publish","type":"post","link":"https:\/\/bm.dev.synology.me\/?p=231861","title":{"rendered":"Zona euro se afl\u0103 la marginea pr\u0103pastiei: BCE avertizeaz\u0103 asupra unui cocktail exploziv de datorii \u00een cazul \u00een care nu vor fi adoptate o serie de m\u0103suri urgente"},"content":{"rendered":"<div>\nBanca Central\u0103 European\u0103 (BCE) a avertizat c\u0103 zona euro risc\u0103 o nou\u0103 criz\u0103 a datoriilor dac\u0103 blocul nu reu\u015fe\u015fte s\u0103 stimuleze cre\u015fterea economic\u0103, s\u0103 reduc\u0103 datoria public\u0103 \u015fi s\u0103 gestioneze incertitudinea politic\u0103, informeaz\u0103 Financial Times.<\/div>\n<div>\n&nbsp;<\/div>\n<div>\n\u00cen raportul s\u0103u anual privind stabilitatea financiar\u0103, publicat miercuri, BCE a semnalat o posibil\u0103 reapari\u0163ie a \u201e\u00eengrijor\u0103rilor pie\u0163ei legate de sustenabilitatea datoriilor suverane\u201d. Documentul subliniaz\u0103 nivelurile ridicate ale datoriei publice \u015fi deficitele bugetare mari, dar \u015fi cre\u015fterea economic\u0103 modest\u0103 \u015fi incertitudinile generate de \u201erezultatele recente ale alegerilor la nivel european \u015fi na\u0163ional, \u00een special \u00een Fran\u0163a\u201d.<\/div>\n<div>\n&nbsp;<\/div>\n<div>\nSpread-ul dintre obliga\u0163iunile guvernamentale franceze \u015fi germane pe 10 ani \u2013 un indicator al \u00eencrederii investitorilor \u2013 a atins 0,78 puncte procentuale \u00een aceast\u0103 lun\u0103, apropiindu-se de un maxim al ultimilor 12 ani, similar celui din perioada premerg\u0103toare alegerilor parlamentare din var\u0103.<\/div>\n<div>\n&nbsp;<\/div>\n<div>\n\u201eFactori precum productivitatea sc\u0103zut\u0103 limiteaz\u0103 cre\u015fterea economic\u0103, iar acest lucru face ca datoriile mari \u015fi deficitele bugetare ridicate s\u0103 devin\u0103 o surs\u0103 de \u00eengrijorare mai mare pentru sustenabilitatea datoriilor\u201d, a explicat BCE \u00een raportul s\u0103u.<\/div>\n<div>\n&nbsp;<\/div>\n<div>\nDe\u015fi spread-urile obliga\u0163iunilor italiene comparativ cu cele germane sunt mai reduse dec\u00e2t \u00een timpul crizei zonei euro de acum un deceniu, riscurile persist\u0103. \u00cen timpul acelei crize, Grecia a fost la un pas de intrarea \u00een incapacitate de plat\u0103, ceea ce a generat temeri legate de stabilitatea monedei euro. Criza a fost temperat\u0103 doar dup\u0103 ce fostul pre\u015fedinte al BCE, Mario Draghi, a promis s\u0103 fac\u0103 \u201etot ce este necesar\u201d pentru a proteja zona euro.<\/div>\n<div>\n&nbsp;<\/div>\n<div>\nRaportul BCE direc\u0163ioneaz\u0103 accentul pe riscurile fiscale ceva mai acut dec\u00e2t edi\u0163iile anterioare. Institu\u0163ia atrage aten\u0163ia asupra faptului c\u0103 primele de risc ale creditului suveran ar putea cre\u015fte din cauza \u015focurilor macrofinanciare. Aceasta a indicat vulnerabilit\u0103\u0163ile din mai multe state membre, al\u0103turi de provoc\u0103rile generate de refinan\u0163area datoriei suverane la rate ale dob\u00e2nzii mai mari.<\/div>\n<div>\n&nbsp;<\/div>\n<div>\nBCE a mai precizat c\u0103 nivelurile mari ale datoriei publice \u015fi cre\u015fterea economic\u0103 modest\u0103 din zona euro \u2013 format\u0103 din 20 de \u0163\u0103ri \u2013 \u00eengreuneaz\u0103 finan\u0163area unor priorit\u0103\u0163i precum ap\u0103rarea \u015fi combaterea schimb\u0103rilor climatice.<\/div>\n<div>\n&nbsp;<\/div>\n<div>\nPerspectiva economic\u0103 slab\u0103 a fost subliniat\u0103 recent de Comisia European\u0103, care \u015fi-a revizuit \u00een sc\u0103dere prognoza de cre\u015ftere pentru zona euro \u00een 2025, la doar 1,3%, men\u0163ion\u00e2nd c\u0103 regiunea continu\u0103 s\u0103 r\u0103m\u00e2n\u0103 \u00een urma Statelor Unite.<\/div>\n<div>\n&nbsp;<\/div>\n<div>\nBCE a semnalat, de asemenea, riscurile crescute de \u201eajust\u0103ri bru\u015fte\u201d pe pie\u0163ele bursiere \u015fi de obliga\u0163iuni, men\u0163ion\u00e2nd \u201eevalu\u0103rile ridicate \u015fi concentrarea riscurilor\u201d. Aceste condi\u0163ii au contribuit deja la episoade de volatilitate accentuat\u0103, dar de scurt\u0103 durat\u0103, pe pie\u0163e.<\/div>\n<div>\n&nbsp;<\/div>\n<div>\nConcluziile raportului BCE subliniaz\u0103 urgen\u0163a adopt\u0103rii de m\u0103suri pentru a consolida stabilitatea financiar\u0103 \u015fi a atenua riscurile care amenin\u0163\u0103 economiile din zona euro.<\/div>\n<div>\n&nbsp;<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Banca Central\u0103 European\u0103 (BCE) a avertizat c\u0103 zona euro risc\u0103 o nou\u0103 criz\u0103 a datoriilor dac\u0103 blocul nu reu\u015fe\u015fte s\u0103 stimuleze cre\u015fterea economic\u0103, s\u0103 reduc\u0103 datoria public\u0103 \u015fi s\u0103 gestioneze incertitudinea politic\u0103, informeaz\u0103 Financial Times. &nbsp; \u00cen raportul s\u0103u anual privind stabilitatea financiar\u0103, publicat miercuri, BCE a semnalat o posibil\u0103 reapari\u0163ie a \u201e\u00eengrijor\u0103rilor pie\u0163ei legate [&hellip;]<\/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":[20170,8830,190,182,750,13242],"class_list":["post-231861","post","type-post","status-publish","format-standard","hentry","category-actualitate","tag-banca-centrala","tag-bce","tag-crestere-economica","tag-criza","tag-datorii","tag-zona-euro"],"_links":{"self":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/231861","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=231861"}],"version-history":[{"count":1,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/231861\/revisions"}],"predecessor-version":[{"id":231882,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/231861\/revisions\/231882"}],"wp:attachment":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=231861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=231861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=231861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}