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“Europa 2020”, nuovo governo economico e ri-regolamentazione finanziaria: incentivi o vincoli alla crescita?

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Author(s): MARIO SARCINELLI

Journal: Moneta e Credito
ISSN 0026-9611

Volume: 63;
Issue: 252;
Start page: 291;
Date: 2010;
Original page

Keywords: Politica economica europea | Crisi finanziaria | regolazione finanziaria

ABSTRACT
Despite the launch of a new strategy for growth in Europe (the Europe 2020 strategy) and the ongoing efforts to design a new international financial architecture, prospects for an economic recovery of Europe remain dim. Public deficits and debts will have to be reduced at a faster pace, with contractionary effects unless a strong recovery of private expenditure will materialize. Financial re-regulation is projected to further depress the economy by imposing higher capital ratios, lower leverage, a late (though welcome) discipline of liquidity. The compound effect of the two policy trends pose a serious threat on the social sustainability of the European social market economy.

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