Bulevar St.-Germain, 5 diciembre 2009. Foto JPQ.

No lo digo yo.

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Lo dice un editorial del Economist.

Y lo dice matizando mucho: OK a la austeridad y el rigor, hasta el fin; pero ha llegado el momento de comenzar a pensar en relanzar el crecimiento. Y, ojo, los errores pudieran pagarse muy caros, durante los meses que vienen. Meses y meses, muchos, quizá, todavía. ¿2013..? ¿2014? ¿Cuántos años se tardará en pagar las deudas Zapatero..?

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Cover de Bill Butcher para el Economist:

THERE are tantalising signs of good news in the world economy. In America firms are hiring more and consumers are spending more. The euro zone’s recession is proving milder than expected. [ .. ]

The last crusade

European countries need to stop focusing so intently on austerity and instead do more to generate growth. The ECB’s liquidity injections have successfully bought time for indebted governments, but for permanent relief the euro zone needs to build institutions that allow joint liability for government debts balanced with fiscal discipline.
America’s priority should be to craft a medium-term plan which puts the budget deficit on a downward path without snuffing out the recovery. There is, unfortunately, not a chance that it will do that before November’s presidential election. China’s economy remains too reliant on investment rather than domestic consumption. Rather than encourage the building of roads and railways, any stimulus this year should push cheap housing and higher wages, as well as pensions and health spending.
The reasons for optimism are real. But if policymakers get it wrong again, the recovery could yet turn to dust… The Economist, 17 / 23 marzo 2012, Can it be…the recovery..?

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Veremos.

• Economía en este Infierno.