{"id":1315,"date":"2012-12-08T00:00:00","date_gmt":"2012-12-08T00:00:00","guid":{"rendered":"https:\/\/staging.jbh.is\/?p=1315"},"modified":"2020-09-22T12:27:49","modified_gmt":"2020-09-22T12:27:49","slug":"whats-wrong-with-europe-and-by-the-way-why-dont-you-fix-it","status":"publish","type":"post","link":"https:\/\/jbh.is\/?p=1315","title":{"rendered":"\u201eWhat\u00b4s wrong with Europe? And by the Way: Why don\u00b4t you Fix it?”"},"content":{"rendered":"

Fr\u00e6\u00f0imenn, sem vandir eru a\u00f0 vir\u00f0ingu sinni, hafa fyrir si\u00f0 a\u00f0 telja upp lykilor\u00f0 \u00ed upphafi m\u00e1ls s\u00edns, til a\u00f0 skerpa athygli lesandans. Fari \u00e9g a\u00f0 \u00feeirra ford\u00e6mi, \u00fe\u00e1 \u00e6ttu eftirfarandi lykilor\u00f0 a\u00f0 br\u00fdna hugsunina:<\/p>\n\n\n\n\n\n

Gjald\u00ferota bankar. \u00d3b\u00e6rilegar skuldir. Baneitru\u00f0 l\u00e1n. Ruslflokkun. \u00dej\u00f3\u00f0argjald\u00ferot. Bankabj\u00f6rgun. Skattaparad\u00edsir. Marka\u00f0irnir gegn (velfer\u00f0ar)r\u00edkinu. 1% gegn 99%. Freistnivandi. Samf\u00e9lagss\u00e1ttm\u00e1li. Au\u00f0r\u00e6\u00f0i gegn l\u00fd\u00f0r\u00e6\u00f0i. Kreppa l\u00fd\u00f0r\u00e6\u00f0isins.<\/b><\/p>\n

1. Hvernig \u00e1 a\u00f0 bjarga kapitalismanum fr\u00e1 kapitalistunum?<\/h2>\n

Yfirstandandi tv\u00edburakreppa gjald\u00ferota banka og \u00f3sj\u00e1lfb\u00e6rra skulda minnir okkur \u00e1, a\u00f0 bankar eru \u00ed e\u00f0li s\u00ednu h\u00e6ttulegir. H\u00e6ttulegri en m\u00e1lali\u00f0asveitir, a\u00f0 s\u00f6gn Thomas Jefferson<\/b>, sem sagt hefur veri\u00f0 um, a\u00f0 g\u00e1fnafari\u00f0 \u00ed Hv\u00edta h\u00fasinu hafi h\u00e6kka\u00f0 m\u00e6lanlega, \u00feegar hann sn\u00e6ddi einn me\u00f0 sj\u00e1lfum s\u00e9r.<\/p>\n

Hvers vegna eru bankar h\u00e6ttulegir? \u00dea\u00f0 er vegna \u00feess, a\u00f0 \u00feeir eru eiginlega eins konar Ponzi<\/b>-brella. \u00deeir segjast var\u00f0veita sparif\u00e9 okkar me\u00f0 fyrirheiti um \u00e1v\u00f6xtun. En \u00fear sem \u00feeir var\u00f0veita a\u00f0eins brotabrot af innl\u00e1num \u00ed varasj\u00f3\u00f0i, geta \u00feeir ekki endurgreitt l\u00e1nardrottnum s\u00ednum (sparifj\u00e1reigendum), vilji \u00feeir endurheimta f\u00e9 sitt allir \u00ed einu. \u00deetta er n\u00e1kv\u00e6mlega eins og Ponzi-brella, sem notar innl\u00e1n hinna fyrstu til a\u00f0 borga h\u00e1a \u00e1v\u00f6xtun, en getur ekki sta\u00f0i\u00f0 vi\u00f0 gefin fyrirheit gagnvart \u00feeim, sem leggja inn s\u00ed\u00f0ar \u00ed r\u00f6\u00f0inni. Munurinn \u00e1 f\u00e9flettingu \u00e1 la Ponzi<\/i> og bankastarfsemi er bara s\u00e1, a\u00f0 n\u00fa til dags segjast bankar tryggja l\u00e1gmarksinnist\u00e6\u00f0ur (stundum me\u00f0 r\u00edkis\u00e1byrg\u00f0).<\/p>\n

\u00deetta er lex\u00eda, sem vi\u00f0 l\u00e6r\u00f0um af reynslunni \u00ed Kreppunni miklu <\/b>1930-1940 \u2013 \u00feegar marka\u00f0sbrestur lama\u00f0i heimshagkerfi\u00f0 \u2013 og um sex \u00fe\u00fasund bankar ur\u00f0u gjald\u00ferota \u00ed Bandar\u00edkjunum einum saman, \u00ed kj\u00f6lfar tauga\u00e1falls \u00e1 kauph\u00f6llinni. \u00deetta var \u00feegar h\u00f3telgestir \u00e1 Manhattan voru spur\u00f0ir vi\u00f0 innritun: \u00c6tli\u00f0 \u00fei\u00f0 a\u00f0 sofa e\u00f0a st\u00f6kkva? S\u00ed\u00f0an \u00fe\u00e1 h\u00f6fum vi\u00f0 vita\u00f0 \u2013 e\u00f0a a.m.k. \u00e1tt a\u00f0 vita \u2013 a\u00f0 bankar eru of h\u00e6ttulegir til a\u00f0 vera \u00e1n eftirlits r\u00edkisins. Ef sparifj\u00e1reigendur eiga a\u00f0 geta treyst b\u00f6nkum, ver\u00f0a \u00feeir a.m.k. a\u00f0 bj\u00f3\u00f0a upp \u00e1 tryggingu l\u00e1gmarksinnist\u00e6\u00f0na, anna\u00f0 hvort sj\u00e1lfir e\u00f0a me\u00f0 atbeina r\u00edkisins.<\/p>\n

\u00deetta n\u00e1lgast kjarna m\u00e1lsins var\u00f0andi orsakir fj\u00e1rm\u00e1lakreppunnar, sem hefur helteki\u00f0 Bandar\u00edkin og Evr\u00f3pu s.l. fimm \u00e1r. S\u00fa h\u00f3tun vofir yfir okkur, a\u00f0 heimshagkerfi\u00f0 lamist aftur \u2013 \u00ed eins konar endurger\u00f0 kreppunnar miklu. Vi\u00f0 vir\u00f0umst ekki a\u00f0eins hafa gleymt \u00fev\u00ed, sem vi\u00f0 l\u00e6r\u00f0um af reynslunni \u00ed kreppunni. Vi\u00f0 h\u00f6fum l\u00edka l\u00e1ti\u00f0 blekkjast af einfeldningslegu tr\u00fabo\u00f0i um \u00f3skeikuleik marka\u00f0arins.<\/p>\n

\u00deessu marka\u00f0str\u00fabo\u00f0i hefur veri\u00f0 teki\u00f0 sem \u00f3brig\u00f0ulum sannleika \u00ed stj\u00f3rnun fyrirt\u00e6kja, \u00e1 r\u00edkisstj\u00f3rnarfundum og \u00ed kennslustofum akadem\u00edunnar v\u00edtt og breitt um heiminn. Aflei\u00f0ingarnar blasa vi\u00f0 allra augum, nema \u00feeirra sem blindast hafa af marka\u00f0str\u00fabo\u00f0inu.\u00dea\u00f0 m\u00e1 or\u00f0a \u00feetta svona: Of margir bankar l\u00e1nu\u00f0u of mikla peninga, sem \u00feeir ekki \u00e1ttu, a\u00f0ilum sem \u00feeir vissu, a\u00f0 g\u00e6tu ekki borga\u00f0 til baka<\/i>. \u00deegar bankar h\u00e6tta a\u00f0 geta l\u00e1na\u00f0 er drifkraftur kerfisins \u00ferotinn. Svolei\u00f0is bankar eru eins og vatnsvirkjun \u00e1n uppist\u00f6\u00f0ul\u00f3ns. Rafmagni\u00f0 fer af. Og kapitalistarnir \u2013 eigendur fj\u00e1rmagnsins \u2013 hr\u00f3pa n\u00fa h\u00e1st\u00f6fum \u00e1 r\u00edki\u00f0 a\u00f0 koma s\u00e9r til bjargar. Allt, sem \u00feeir hafa \u00e1\u00f0ur sagt um sj\u00e1lfvirkni marka\u00f0anna<\/i> og ska\u00f0semi r\u00edkis\u00edhlutunar<\/i>, er or\u00f0i\u00f0 a\u00f0 \u00f6fugm\u00e6li. \u00dej\u00f3\u00f0n\u00fdting \u2013 sj\u00e1lft bannor\u00f0i\u00f0 \u2013 er kj\u00f6ror\u00f0 dagsins. Vi\u00f0 erum a\u00f0 upplifa mestu r\u00edkisv\u00e6\u00f0ingu, sem s\u00f6gur fara af \u2013 bj\u00f6rgunarlei\u00f0angur \u00e1 vegum r\u00edkisins til \u00feess a\u00f0 bjarga kap\u00edtalismanum fr\u00e1 kap\u00edtalistunum<\/i>.<\/p>\n

2. Au\u00f0r\u00e6\u00f0i gegn l\u00fd\u00f0r\u00e6\u00f0i: Samf\u00e9lagss\u00e1ttm\u00e1linn rofinn.<\/h2>\n

Rifjum upp helstu \u00e1fangana \u00e1 \u00feessari vegfer\u00f0 fram a\u00f0 br\u00fan hengiflugsins:<\/p>\n

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  • Lausbeisla\u00f0ir bankar:<\/b> \u00cd Kreppunni miklu l\u00e6r\u00f0ist okkur, a\u00f0 \u00fea\u00f0 yr\u00f0i a\u00f0 byggja einangrunarvegg milli sm\u00e1s\u00f6lubanka, sem \u00e1ttu a\u00f0 var\u00f0veita og \u00e1vaxta sparifj\u00e1rinnist\u00e6\u00f0ur annars vegar og annarra fjarm\u00e1lastofnana hins vegar (fj\u00e1rfestingabanka, \u00e1v\u00f6xtunarsj\u00f3\u00f0a, vogunarsj\u00f3\u00f0a o.s.frv.). Hinir s\u00ed\u00f0arnefndu s\u00e6kjast eftir h\u00e1marksgr\u00f3\u00f0a og taka til \u00feess takmarkalitla \u00e1h\u00e6ttu. \u00deessi einangrunarveggur var rifinn ni\u00f0ur undir lok seinustu aldar. \u00dear me\u00f0 var venjulegum vi\u00f0skiptab\u00f6nkum breytt \u00ed fj\u00e1rgl\u00e6frastofnanir <\/i>me\u00f0 \u00f3fyrirs\u00e9\u00f0um aflei\u00f0ingum.<\/li>\n
  • Ofv\u00f6xtur fj\u00e1rm\u00e1lageirans:<\/b> \u00dear me\u00f0 opnu\u00f0um vi\u00f0 allar g\u00e1ttir fyrir ofvexti fj\u00e1rm\u00e1lageirans, sem \u00e1 s.l. \u00e1ratugum hefur vaxi\u00f0 raunhagkerfi heimsins gersamlega yfir h\u00f6fu\u00f0. Hagfr\u00e6\u00f0inga greinir \u00e1 um, hvort fj\u00e1rm\u00e1lageirinn er or\u00f0inn sj\u00f6 e\u00f0a t\u00edu sinnum st\u00e6rri en raunhagkerfi heimsins. \u00deetta \u00e1h\u00e6ttufj\u00e1rmagn er hvikult og laust \u00ed r\u00e1sinni. Eigendur \u00feess og a\u00f0rir fj\u00e1rhir\u00f0ar skyggnast um ver\u00f6ld alla \u00ed leit a\u00f0 skammt\u00edmagr\u00f3\u00f0a. \u00deeim er tamt a\u00f0 f\u00e1 taugaveiklunark\u00f6st af minnsta tilefni. \u00deeir umkringja veikbur\u00f0a \u00fej\u00f3\u00f0r\u00edki eins og r\u00e1nd\u00fdr f\u00f3rnarl\u00f6mb s\u00edn. Flest \u00fej\u00f3\u00f0r\u00edki \u2013 svo ekki s\u00e9 tala\u00f0 um \u00fer\u00f3unarr\u00edki \u2013 reynast au\u00f0veld br\u00e1\u00f0, eins og d\u00e6min s\u00fdna.<\/li>\n
  • \u00c6 t\u00ed\u00f0ari fj\u00e1rm\u00e1lakreppur:<\/b> Fj\u00e1rm\u00e1lakreppur, sem lama heilu hagkerfin, eru a\u00f0 ver\u00f0a \u00e6 t\u00ed\u00f0ari: Mex\u00edk\u00f3 \u00e1ri\u00f0 1994. As\u00edukreppan (S-K\u00f3rea, Thailand, Ind\u00f3nes\u00eda og Malas\u00eda) \u00e1ri\u00f0 1997. \u00c1ri\u00f0 1999 var r\u00f6\u00f0in komin a\u00f0 R\u00fasslandi, \u00dakra\u00ednu, Brazil\u00edu, Equador og Pakistan. \u00c1ri\u00f0 2001 lenti Tyrkland \u00ed gj\u00f6rg\u00e6slu og Argent\u00edna var\u00f0 gjald\u00ferota. Nouriel Roubini<\/b>, einn f\u00e1rra afbur\u00f0amanna \u00ed h\u00f3pi hagfr\u00e6\u00f0inga samt\u00edmans, vakti allsherjar ford\u00e6mingu marka\u00f0str\u00fabo\u00f0sins, \u00feegar hann sp\u00e1\u00f0i \u00fev\u00ed \u00feegar \u00e1ri\u00f0 2005, a\u00f0 \u00feetta ofvaxna fj\u00e1rm\u00e1lakerfi stefndi hra\u00f0fari \u00ed brotlendingu. Hann l\u00fdsti As\u00edukreppunni svona: \u201e\u00deetta hvikula kap\u00edtal fl\u00e6ddi yfir l\u00f6ndin \u00ed s\u00f3kn eftir h\u00e1marksskyndigr\u00f3\u00f0a. Vi\u00f0 fyrstu vi\u00f0v\u00f6runarmerki um grei\u00f0slubrest fl\u00e6ddi kap\u00edtali\u00f0 \u00fat aftur og skildi eftir sig hrun gjaldmi\u00f0la; og hrinu gjald\u00ferota, fyrst fj\u00e1rm\u00e1lafyrirt\u00e6kja og s\u00ed\u00f0ar \u00ed \u00f6\u00f0rum geirum, sem lauk me\u00f0 grei\u00f0slufalli r\u00edkisstj\u00f3rna. A\u00f0eins \u00edhlutun Al\u00fej\u00f3\u00f0agjaldeyrissj\u00f3\u00f0sins (AGS) og se\u00f0labanka vi\u00f0komandi r\u00edkja, kom \u00ed veg fyrir, a\u00f0 hruni\u00f0 n\u00e6\u00f0i um allan heim\u201c. \u2013 Enn og aftur var\u00f0 r\u00edki\u00f0, og al\u00fej\u00f3\u00f0astofnanir \u00e1 vegum r\u00edkja, a\u00f0 koma fj\u00e1rmagnseigendum \u2013 \u201em\u00f6rku\u00f0unum<\/i>\u201c \u2013 til bjargar.<\/li>\n
  • Fj\u00e1rhagsleg gerey\u00f0ingarvopn:<\/b> Me\u00f0an fj\u00e1rm\u00e1lab\u00f3lan var a\u00f0 \u00feenjast \u00fat, var \u00f3tr\u00falegu hugviti vari\u00f0 til a\u00f0 finna upp n\u00fdjar og ofur-\u00e1h\u00e6ttusamar fj\u00e1rm\u00e1laafur\u00f0ir, sem pranga\u00f0 var inn \u00e1 hrekklausa kaupendur v\u00edtt og breitt um heiminn. Skuggalega h\u00e1tt hlutfall \u00feessara fj\u00e1rm\u00e1laafur\u00f0a reyndist byggja \u00e1 v\u00f6rusvikum, sem sta\u00f0festa gl\u00e6psamlegan brotavilja. \u00deetta er \u00fea\u00f0 sem Warren Buffett, annar helsti au\u00f0j\u00f6fur Bandar\u00edkjanna, haf\u00f0i \u00ed huga, \u00feegar hann l\u00fdsti \u00feessum fj\u00e1rm\u00e1laafur\u00f0um sem \u201efj\u00e1rhagslegum gerey\u00f0ingarvopnum<\/i>\u201c. Vi\u00f0 lifum \u00e1 \u00f6ld hry\u00f0juverka. Ef tilgangur hry\u00f0juverkah\u00f3pa \u00ed Muslimaheiminum er a\u00f0 ganga af vestr\u00e6nu l\u00fd\u00f0r\u00e6\u00f0i dau\u00f0u, g\u00e6tu \u00feeir ugglaust l\u00e6rt eitt og anna\u00f0 af \u00feessum fj\u00e1rhagslegu hry\u00f0juvekam\u00f6nnum. \u00deeir eru n\u00fa \u00feegar or\u00f0nir \u00f3gnun vi\u00f0 l\u00fd\u00f0r\u00e6\u00f0i\u00f0.<\/li>\n
  • \u00d6rt vaxandi \u00f3j\u00f6fnu\u00f0ur:<\/b> \u00d3j\u00f6fnu\u00f0ur \u00ed tekju- og eignaskiptingu, ekki bara milli r\u00edkra \u00fej\u00f3\u00f0a og snau\u00f0ra, heldur l\u00edka innan \u00fer\u00f3a\u00f0ra \u00fej\u00f3\u00f0f\u00e9laga, hefur fari\u00f0 \u00f6rt vaxandi. Fyrir \u00e1ri\u00f0 1970 voru heildartekjur forstj\u00f3ra amer\u00edskra st\u00f3rfyrirt\u00e6kja a\u00f0 jafna\u00f0i 130-faldar \u00e1 vi\u00f0 me\u00f0allaun laun\u00feega. Undir lok fyrsta \u00e1ratugar n\u00fdrrar aldar voru forstj\u00f3ralaunin or\u00f0in 400- sinnum h\u00e6rri en me\u00f0allaun. \u00c1 sama t\u00edma hefur kaupm\u00e1ttur laun\u00feega \u00ed Bandar\u00edkjunum sta\u00f0na\u00f0, og reyndar fari\u00f0 l\u00e6kkandi a\u00f0 raungildi, hj\u00e1 hinum l\u00e6gstlaunu\u00f0u. \u00d6fugt vi\u00f0 kenninguna um, a\u00f0 molar af bor\u00f0um hinna ofurr\u00edku gagnist \u00f6llum, af \u00fev\u00ed a\u00f0 hinir r\u00edku fj\u00e1rfesti og skapi st\u00f6rf, \u00fe\u00e1 hefur dregi\u00f0 \u00far b\u00e6\u00f0i fj\u00e1rfestingum og hagvexti \u00e1 \u00feessu t\u00edmabili, og atvinnuleysi og f\u00e1t\u00e6kt fari\u00f0 hra\u00f0vaxandi.<\/li>\n
  • Yfir 90% tekjuaukans, sem til f\u00e9ll \u00ed Bandar\u00edkjunum 1989 \u2013 2006, kom \u00ed hlut 10% hinna r\u00edkustu; 60% heildartekjuaukans kom \u00ed hlut 1% hinna allra r\u00edkustu. Kreppa \u2013 hva\u00f0a kreppa<\/i>? Fyrir 1% hinna ofurr\u00edku er engin kreppa. \u00deetta eina pr\u00f3sent hinna ofurr\u00edku \u00e1, e\u00f0a r\u00e6\u00f0ur yfir, au\u00f0leg\u00f0 \u00fej\u00f3\u00f0anna \u2013 og hefur aldrei veri\u00f0 r\u00edkari. Hinir, \u00feessir svok\u00f6llu\u00f0u 99%, upplifa \u00e1 sama t\u00edma st\u00f6\u00f0nun l\u00edfskjara e\u00f0a hnignun og s\u00edvaxandi \u00f6ryggisleysi um atvinnu og afkomu. \u00cd lj\u00f3si \u00feessara sta\u00f0reynda hl\u00fdtur \u00fea\u00f0 a\u00f0 vekja undrun, svo ekki s\u00e9 meira sagt, a\u00f0 fulltr\u00faar almennings \u00ed vestr\u00e6num l\u00fd\u00f0r\u00e6\u00f0is\u00fej\u00f3\u00f0f\u00e9l\u00f6gum skuli beita s\u00e9r fyrir \u00fev\u00ed a\u00f0 leggja h\u00e6rri skatta \u00e1 \u00feessi 99% og skera ni\u00f0ur almanna\u00fej\u00f3nustu, til \u00feess a\u00f0 \u00f6ngla saman f\u00e9 til a\u00f0 borga skuldir hinna ofurr\u00edku<\/b>. A\u00f0spur\u00f0ir um \u00e1st\u00e6\u00f0una er eina svari\u00f0 sem f\u00e6st \u00feetta: \u201eBankarnir \u2013 fj\u00e1rm\u00e1lageirinn \u2013 eru of st\u00f3rir til \u00feess a\u00f0 \u00feeir megi falla<\/i>\u201c.<\/li>\n
  • Veikleiki \u00fej\u00f3\u00f0r\u00edkja \u2013 alr\u00e6\u00f0i marka\u00f0a:<\/b> Framsal fullveldis fr\u00e1 \u00fej\u00f3\u00f0r\u00edkjum hefur \u00e1 \u00feessari \u00f6ld \u00f3jafna\u00f0arins ekki veri\u00f0 fyrst og fremst til yfir\u00fej\u00f3\u00f0legra stofnana eins og Evr\u00f3pusambandsins; framsal fullveldis fr\u00e1 \u00fej\u00f3\u00f0r\u00edkjunum hefur fyrst og fremst veri\u00f0 til \u201emarka\u00f0anna<\/i>\u201c. Marka\u00f0irnir krefja skuldug r\u00edki um \u00e1h\u00e6ttu\u00e1l\u00f6g vi\u00f0 endurfj\u00e1rm\u00f6gnun l\u00e1na; marka\u00f0irnir sprengja upp l\u00e1nt\u00f6kukostna\u00f0inn og afborganabyr\u00f0ina; marka\u00f0irnir gera kr\u00f6fu um, a\u00f0 r\u00edki\u00f0 bjargi fj\u00e1rm\u00e1lastofnunum fr\u00e1 hruni, undir h\u00f3tun um a\u00f0 ella hrynji hagkerfi\u00f0 \u00ed heild. Yfirtaka r\u00edkja \u00e1 skuldum fj\u00e1rm\u00e1lastofnana gerir \u00fej\u00f3\u00f0arskuldina \u00f3sj\u00e1lfb\u00e6ra. Hinar al\u00fej\u00f3\u00f0legu matstofnanir sj\u00e1 svo um afganginn me\u00f0 \u00fev\u00ed a\u00f0 gefa hinum skuldsettu falleinkunn. \u00de\u00e1 byrjar gr\u00e1tk\u00f3rinn a\u00f0 heimta, a\u00f0 r\u00edki\u00f0 komi til bjargar. \u00dear me\u00f0 geta \u201efj\u00e1rfestar\u201c fari\u00f0 a\u00f0 gera \u00fat \u00e1 r\u00edkissj\u00f3\u00f0i (skattgrei\u00f0endur).<\/li>\n
  • Standard & Poors, Moody\u00b4s og Fitch:<\/b> Hverjir gera \u00fat \u00feessi gr\u00f3\u00f0afyrirt\u00e6ki, sem hafa teki\u00f0 s\u00e9r vald til a\u00f0 vera refsiv\u00f6ndur r\u00e1\u00f0vendninnar \u00ed r\u00edkisfj\u00e1rm\u00e1lum? S\u00fa sta\u00f0reynd, a\u00f0 \u00feessi fyrirt\u00e6ki afla tekna sinna fr\u00e1 b\u00f6nkum og fj\u00e1rm\u00e1lafyrirt\u00e6kjum, sem \u00feau leggja mat \u00e1, hl\u00fdtur a\u00f0 valda mass\u00edvum hagsmuna\u00e1rekstrum<\/i>. Voru ekki allir \u00edslensku bankarnir me\u00f0 \u00ferefalt A \u00ed hnappagatinu, \u00feanga\u00f0 til n\u00f3ttina \u00e1\u00f0ur en \u00feeir f\u00e9llu? Daginn eftir n\u00e1\u00f0u \u00feeir \u00e1 listann yfir t\u00edu st\u00e6rstu gjald\u00ferot fj\u00e1rm\u00e1las\u00f6gunnar. \u00dear a\u00f0 auki bj\u00f3\u00f0a matsfyrirt\u00e6kin upp \u00e1 \u201er\u00e1\u00f0gjafar\u00fej\u00f3nustu\u201c vi\u00f0 k\u00fannana, sem gefa \u00fat skuldabr\u00e9fin. \u00deetta b\u00fd\u00f0ur upp \u00e1 enn frekari hagsmuna\u00e1rekstur. Au\u00f0vita\u00f0 eiga fj\u00e1rfestarnir sj\u00e1lfir a\u00f0 borga fyrir mat \u00e1 skuldabyr\u00f0i, ekki stofnanirnar, sem gefa \u00fat skuldabr\u00e9fin. Fyrir utan auglj\u00f3san hagsmuna\u00e1rekstur b\u00fd\u00f0ur kerfi\u00f0 upp \u00e1 hvata til blekkinga. S\u00f6mu s\u00f6gu er a\u00f0 segja um hina st\u00f3ru, al\u00fej\u00f3\u00f0legu b\u00f3khaldshringi. Allar \u00feessar lykilstofnanir hins al\u00fej\u00f3\u00f0lega fj\u00e1rm\u00e1lakerfis koma \u00fat \u00far kreppunni me\u00f0 laska\u00f0 mannor\u00f0. En kerfi\u00f0 er enn\u00fe\u00e1 \u00f3breytt. Hvers vegna?<\/li>\n
  • Moral hazard<\/b> (freistnivandinn) er skilgreint sem viljinn til a\u00f0 taka (\u00f6fgvakennda) \u00e1h\u00e6ttu (sem vi\u00f0komandi mundi for\u00f0ast venjulega), einfaldlega vegna \u00feess, a\u00f0 hann treystir \u00fev\u00ed, a\u00f0 a\u00f0rir (\u00ed \u00feessu tilviki skattgrei\u00f0endur) muni bera tapi\u00f0, ef illa fer. \u00deetta er \u00fea\u00f0 sem bj\u00f6rgunarlei\u00f0angur r\u00edkisins<\/i> gagnvart b\u00f6nkum og fj\u00e1rm\u00e1lastofnunum sn\u00fdst um. Eigendur og hir\u00f0ar fj\u00e1rmagnsins r\u00f6ku\u00f0u saman ofsagr\u00f3\u00f0a \u00ed uppsveiflunni (hvattir \u00e1fram af l\u00e6gri sk\u00f6ttum, v\u00ed\u00f0ast hvar, \u00e1 fyrirt\u00e6ki og ar\u00f0), eins og allar t\u00f6lur um s\u00edvaxandi \u00f3j\u00f6fnu\u00f0 sta\u00f0festa. En eigendur fj\u00e1rmagnsins bera enga \u00e1byrg\u00f0. A\u00f0skilna\u00f0ur frelsis og \u00e1byrg\u00f0ar er alger<\/i>. Eigendur fj\u00e1rmagnsins bera ekki lengur \u00e1byrg\u00f0 \u00e1 s\u00ednum eigin \u00f3\u00e1byrgu og r\u00f6ngu fj\u00e1rfestingar\u00e1kv\u00f6r\u00f0unum. \u00deeir \u00e6tlast til \u00feess, a\u00f0 a\u00f0rir geri \u00fea\u00f0.<\/li>\n<\/ul>\n

    \u00cdrland & \u00cdsland: A\u00f0 bjarga b\u00f6nkum e\u00f0a l\u00fdsa \u00fe\u00e1 gjald\u00ferota?<\/h2>\n

    Hrekkjal\u00f3mar \u00ed Dyflinni s\u00f6g\u00f0u \u00e1 s\u00ednum t\u00edma, a\u00f0 munurinn \u00e1 ey\u00fej\u00f3\u00f0unum tveimur v\u00e6ri einn stafur og ein vika. \u00cd raun er munurinn annar: \u00cd fyrra tilvikinu var b\u00f6nkunum bjarga\u00f0<\/i>, \u00ed \u00fev\u00ed seinna ur\u00f0u \u00feeir gjald\u00ferota<\/i>. L\u00edtum fyrst \u00e1 \u00cdrland<\/b>. \u00cdrsku r\u00edkisstj\u00f3rninni ur\u00f0u \u00e1 \u00feau grafalvarlegu mist\u00f6k a\u00f0 gefa \u00fat r\u00edkis\u00e1byrg\u00f0 \u00e1 skuldum einkabanka, \u00e1n \u00feess svo miki\u00f0 sem vita, hversu mikil baneitru\u00f0 l\u00e1n leyndust \u00ed hirslum \u00feeirra. \u00deess vegna g\u00e1tu Evr\u00f3pusambandi\u00f0 og AGS gengi\u00f0 a\u00f0 \u00edrska r\u00edkinu sem \u00e1byrg\u00f0ara\u00f0ila einkabanka. S\u00ed\u00f0ar kom \u00e1 daginn, a\u00f0 \u00edrska r\u00edki\u00f0 reis ekki undir \u00feessum skuldum og \u00feurfti a\u00f0 \u00feiggja \u201ebankabj\u00f6rgun<\/i>\u201c (bail-out) \u00ed formi l\u00e1na a\u00f0 upph\u00e6\u00f0 ca. 68 milljar\u00f0a evra. \u00cdrland hefur n\u00fa fari\u00f0 fram \u00far Japan sem skuldugasta \u00fej\u00f3\u00f0 heims. Skuldir r\u00edkisins, heimilanna og fyrirt\u00e6kja utan fj\u00e1rm\u00e1lageirans nema n\u00fa 524% af \u00fej\u00f3\u00f0arframlei\u00f0slu. Mi\u00f0a\u00f0 vi\u00f0 4.5% vexti mun \u00fea\u00f0 taka fj\u00f3r\u00f0ung \u00fej\u00f3\u00f0arframlei\u00f0slunnar \u00e1 \u00f3komnum \u00e1rum a\u00f0 standa undir \u00feessum skuldbindingum. \u00dea\u00f0 er ekki bara \u00f3r\u00e9ttm\u00e6tt; \u00fea\u00f0 er \u00f3b\u00e6rilegt. Og me\u00f0al annarra or\u00f0a, hverjum er veri\u00f0 a\u00f0 bjarga<\/i>? Samkv\u00e6mt t\u00f6lum fr\u00e1 BIS (banka bankanna \u00ed Basel) eiga \u00fe\u00fdskir bankar kr\u00f6fur \u00e1 hendur fj\u00e1rm\u00e1lastofnunum \u00e1 Sp\u00e1ni og \u00cdrlandi, sem nema a.m.k. 300 millj\u00f6r\u00f0um evra. Hverjir voru \u00fea\u00f0 sem fj\u00e1rm\u00f6gnu\u00f0u fasteignab\u00f3lurnar \u00ed \u00feessum l\u00f6ndum? Hverjum er veri\u00f0 a\u00f0 bjarga fr\u00e1 aflei\u00f0ingum \u00feeirra eigin fj\u00e1rfestinga\u00e1kvar\u00f0ana \u2013 \u00fe\u00fdskum bankam\u00f6nnum e\u00f0a \u00edrskum skattgrei\u00f0endum<\/i>?<\/p>\n

    L\u00edtum \u00e1 \u00cdsland<\/b> til samanbur\u00f0ar. \u00dear breyttu \u00e1gjarnir, \u00e1byrg\u00f0arlausir og vanh\u00e6fir fj\u00e1rgl\u00e6framenn n\u00fdeinkav\u00e6ddum b\u00f6nkum \u00ed al\u00fej\u00f3\u00f0lega vogunarsj\u00f3\u00f0i. Innan fimm \u00e1ra h\u00f6f\u00f0u \u00feeir hla\u00f0i\u00f0 upp skuldum \u00ed erlendum gjaldeyri, sem n\u00e1mu a.m.k t\u00edfaldri \u00fej\u00f3\u00f0arframlei\u00f0slu \u00cdslands. \u00dea\u00f0 er langt umfram \u00fea\u00f0 sem gjaldeyrisfor\u00f0i Se\u00f0labankans e\u00f0a skatt\u00feol svo f\u00e1mennrar \u00fej\u00f3\u00f0ar f\u00e9kk undir risi\u00f0. \u00deegar bresk stj\u00f3rnv\u00f6ld \u00f3ttu\u00f0ust, eftir fall Lehman\u00b4s br\u00e6\u00f0ra, a\u00f0 \u00edslensku bankarnir \u00ed London v\u00e6ru ekki a\u00f0eins grei\u00f0slu\u00ferota heldur gjald\u00ferota, settu \u00feeir ekki bara bankana, heldur Se\u00f0labankann og \u00edslensku r\u00edkisstj\u00f3rnina, \u00e1 svartan lista<\/i> yfir hry\u00f0juverkasamt\u00f6k vi\u00f0 hli\u00f0ina \u00e1 Al-Qaeda<\/i>. \u00deetta reyndist vera l\u00e1n \u00ed \u00f3l\u00e1ni \u2013 \u00fe\u00f6kk s\u00e9 Gordon Brown<\/b>! \u00dear me\u00f0 ur\u00f0u bankarnir samstundis gjald\u00ferota. Se\u00f0labankinn var \u00feegar gjald\u00ferota (vi\u00f0 a\u00f0 reyna a\u00f0 bjarga b\u00f6nkunum fram \u00e1 seinustu stundu), landi\u00f0 var meti\u00f0 \u00ed ruslflokk og a\u00f0gengi a\u00f0 fj\u00e1rm\u00e1lam\u00f6rku\u00f0um var snarlega loka\u00f0. \u00d6llum m\u00e1tti lj\u00f3st vera, a\u00f0 \u00edslenska r\u00edkisstj\u00f3rnin haf\u00f0i enga getu til a\u00f0\u201cbjarga b\u00f6nkunum<\/i>\u201c, eins og reynt var \u00e1 \u00cdrlandi. Erlendir l\u00e1nadrottnar \u2013 enn og aftur a\u00f0allega \u00fe\u00fdskir bankar \u2013 neyddust til a\u00f0 afskrifa t\u00f6p s\u00edn (ca. 5 -7 falda \u00fej\u00f3\u00f0arframlei\u00f0slu \u00cdslands). \u00deessar skuldir voru flj\u00f3tlega afskrifa\u00f0ar sem glata\u00f0ar \u00ed b\u00f3khaldi bankanna, en seldar fyrir slikk vogunarsj\u00f3\u00f0um o.fl. \u00e1 eftirm\u00f6rku\u00f0um. \u00cdslenska r\u00edkisstj\u00f3rnin keypti s\u00ed\u00f0an \u201e\u00edslenskar\u201c eignir (innl\u00e1n og \u00fatistandandi l\u00e1n innan lands) me\u00f0 afsl\u00e6tti. (Hversu miklum hefur aldrei fengist uppl\u00fdst). Endurfj\u00e1rm\u00f6gnun Se\u00f0labanka og innlenda bankakerfisins kom s\u00ed\u00f0an skuldum r\u00edkisins \u00far r\u00famlega 25% \u00ed ca. 100% af VLF. \u00deetta minnir \u00e1 fleyg umm\u00e6li forstj\u00f3ra amer\u00edsks flugf\u00e9lags, sem sag\u00f0i vi\u00f0 gjald\u00ferot f\u00e9lagsins: \u201eKap\u00edtalismi \u00e1n gjald\u00ferota er l\u00edkt og kristind\u00f3mur \u00e1n helv\u00edtis<\/i>\u201c.<\/p>\n

    \u00deetta er megin\u00e1st\u00e6\u00f0an fyrir \u00fev\u00ed, a\u00f0 \u00cdsland, sem \u00ed upphafi m\u00e1tti \u00feola hvort tveggja, hrun bankakerfisins og gjaldmi\u00f0ilsins, hefur a\u00f0 hluta til n\u00e1\u00f0 s\u00e9r aftur \u00e1 strik. \u00dea\u00f0 m\u00e1 \u00feakka gjald\u00feroti bankanna, sem \u00fatiloka\u00f0i, a\u00f0 \u00feeim v\u00e6ri vi\u00f0bjargandi, og hruni gjaldmi\u00f0ilsins. Gengisfelling er skammt\u00edmaa\u00f0ger\u00f0 til a\u00f0 skera ni\u00f0ur l\u00edfskj\u00f6r \u00fej\u00f3\u00f0ar, sem var or\u00f0in v\u00f6n \u00fev\u00ed a\u00f0 lifa um efni fram. Hin hli\u00f0in \u00e1 \u00fev\u00ed m\u00e1li er s\u00fa, a\u00f0 gengishruni\u00f0 tv\u00f6falda\u00f0i erlendar skuldir hinna skuldugu, einkum yngstu kynsl\u00f3\u00f0arinnar, \u00ed einu vetfangi og svipti hana \u00fear me\u00f0 eignum s\u00ednum og afkomu. \u00der\u00e1tt fyrir harmkv\u00e6lin \u00e1 evrusv\u00e6\u00f0inu, hefur ekkert \u00fev\u00edl\u00edkt gerst \u00fear.<\/p>\n

      \n
    • Samf\u00e9lagss\u00e1ttm\u00e1linn:<\/b> Segja m\u00e1, a\u00f0 \u00ed kap\u00edtalisku marka\u00f0shagkerfi gildi \u00f3skr\u00e1\u00f0 l\u00f6gm\u00e1l, sem halda ver\u00f0ur \u00ed hei\u00f0ri, ef almenningur \u00e1 a\u00f0 geta bori\u00f0 traust til stofnana samf\u00e9lagsins. Menn eru frj\u00e1lsir a\u00f0 \u00fev\u00ed a\u00f0 s\u00e6kjast eftir h\u00e1marksgr\u00f3\u00f0a og uppskera r\u00edkulega, svo lengi sem \u00feeir taka \u00e1h\u00e6ttu fyrir eigi\u00f0 f\u00e9. Og svo lengi sem menn bera sj\u00e1lfir tapi\u00f0, ef illa fer, eins og \u00feeir \u00e1\u00f0ur uppsk\u00e1ru gr\u00f3\u00f0ann. Gr\u00f3\u00f0i og tap eru nefnilega tv\u00e6r hli\u00f0ar \u00e1 s\u00f6mu mynt<\/i>. Og svo er einu vi\u00f0 a\u00f0 b\u00e6ta: \u00deetta gildir svo lengi sem menn borga skatta og skyldur til samf\u00e9lagsins, \u00fev\u00ed a\u00f0 \u2013 \u00feegar \u00f6llu er \u00e1 botninn hvolft \u2013 var \u00fea\u00f0 \u00feetta samf\u00e9lag, sem ger\u00f0i \u00feig r\u00edkan. \u00dea\u00f0 er ekki \u00fat \u00ed h\u00f6tt, a\u00f0 Warren Buffett<\/b>, sem \u00e1\u00f0ur var vitna\u00f0 til, sag\u00f0i um sj\u00e1lfan sig og r\u00edkid\u00e6mi sitt: \u201eHva\u00f0 haldi\u00f0 \u00fei\u00f0, a\u00f0 hef\u00f0i or\u00f0i\u00f0 \u00far m\u00e9r, hef\u00f0i \u00e9g f\u00e6\u00f0st \u00ed Bangladess?<\/i>\u201c<\/li>\n
    • Kreppa l\u00fd\u00f0r\u00e6\u00f0isins:<\/b> \u00deetta er \u00e1st\u00e6\u00f0an fyrir \u00fev\u00ed, a\u00f0 almenningur s\u00e6ttir sig vi\u00f0 \u00f3j\u00f6fnu\u00f0, innan vissra marka, sem r\u00e9ttm\u00e6ta umbun fyrir dugna\u00f0, framtak, n\u00fdsk\u00f6pun og vilja til a\u00f0 taka \u00e1h\u00e6ttu. En ef \u00feessum bo\u00f0or\u00f0um er \u00f6llum sn\u00fai\u00f0 \u00f6fugt \u2013 ef hagna\u00f0ur g\u00f3\u00f0\u00e6risins er einkav\u00e6ddur<\/i> (og jafnvel skoti\u00f0 undan skatti), en tapi\u00f0 \u00ed har\u00f0\u00e6rinu er \u00fej\u00f3\u00f0n\u00fdtt<\/i> \u2013 \u00fe\u00e1 er sj\u00e1lfur tilverugrundv\u00f6llur hins kapitaliska marka\u00f0shagkerfis brostinn. \u00de\u00e1 erum vi\u00f0 ekki lengur bara a\u00f0 f\u00e1st vi\u00f0 aflei\u00f0ingar fj\u00e1rm\u00e1lakreppu. \u00de\u00e1 hefur fj\u00e1rm\u00e1lakreppan grafi\u00f0 undan sj\u00e1lfum m\u00e1ttarsto\u00f0um hins kap\u00edtaliska hagkerfis. \u00dej\u00f3\u00f0f\u00e9lagi\u00f0 sj\u00e1lft er \u00fear me\u00f0 \u00ed dj\u00fapri tilvistarkreppu<\/i>.<\/li>\n
    • Skattaparad\u00edsir:<\/b> Og \u00feegar hinir ofurr\u00edku \u2013 hin svok\u00f6llu\u00f0u 1% \u2013 b\u00e6ta gr\u00e1u ofan \u00e1 svart me\u00f0 \u00fev\u00ed a\u00f0 fela uppsafna\u00f0an au\u00f0 sinn \u00ed svok\u00f6llu\u00f0um \u201eskattaparad\u00edsum<\/i>\u201c \u2013 fyrst og fremst til a\u00f0 komast hj\u00e1 a\u00f0 gjalda samf\u00e9laginu f\u00f3sturlaunin \u2013 \u00fe\u00e1 hafa \u00feeir sett sj\u00e1lfa sig fyrir ofan l\u00f6g og r\u00e9tt. Hafi\u00f0 \u00fei\u00f0 leitt hugann a\u00f0 \u00fev\u00ed, hversu st\u00f3r hluti af au\u00f0leg\u00f0 \u00fej\u00f3\u00f0anna er falinn me\u00f0 \u00feessum h\u00e6tti, utan og ofan vi\u00f0 leikreglur samf\u00e9lagsins? Samkv\u00e6mt n\u00fdlegum ni\u00f0urst\u00f6\u00f0um ranns\u00f3knarstofnunar \u00ed Wahington D.C. nemur upph\u00e6\u00f0in m\u00f6rgum trillj\u00f3num dollara. N\u00e1nar tilteki\u00f0 telst h\u00fan jafngild \u00fej\u00f3\u00f0arframlei\u00f0slu Bandar\u00edkjanna og Japans til samans, st\u00e6rsta og \u00feri\u00f0ja st\u00e6rsta hagkerfi heims. A\u00f0eins s\u00e1 hluti \u00feessarar upph\u00e6\u00f0ar, sem nemur e\u00f0lilegri skattlagningu, mundi n\u00e6gja til a\u00f0 leysa skuldakreppuna, sem n\u00fa hrj\u00e1ir Evr\u00f3pu og Amer\u00edku, og gott betur. A\u00f0eins brotabrot af \u00feessum falda fj\u00e1rsj\u00f3\u00f0i mundi n\u00e6gja til a\u00f0 bjarga velfer\u00f0arr\u00edki f\u00f3lksins<\/i> fr\u00e1 \u00fev\u00ed a\u00f0 vera svelt til bana. Veruleikinn er hins vegar allur annar. \u00dea\u00f0 eru skattgrei\u00f0endur \u00ed \u00feessum l\u00f6ndum, sem eru kraf\u00f0ir um h\u00e6rri skatta til a\u00f0 borga skuldir hinna ofurr\u00edku<\/b>.<\/li>\n<\/ul>\n

      \u00deetta er, a\u00f0 m\u00ednu mati, alvarlegasta \u00f6grunin vi\u00f0 l\u00fd\u00f0r\u00e6\u00f0islega stj\u00f3rnah\u00e6tti, allt fr\u00e1 valdar\u00e1ni komm\u00fanista \u00ed R\u00fasslandi eftir fyrra str\u00ed\u00f0 og valdat\u00f6ku fasista og nasista \u00ed Evr\u00f3pu \u00e1 millistr\u00ed\u00f0s\u00e1runum. \u00dea\u00f0 var veikleiki \u00feingr\u00e6\u00f0isins \u00ed a\u00f0 f\u00e1st vi\u00f0 aflei\u00f0ingar kreppunnar miklu, sem leiddi beint til mannf\u00f3rna seinni heimstyrjaldarinnar. Erum vi\u00f0 virkilega d\u00e6md til a\u00f0 endurtaka s\u00f6mu mist\u00f6kin einu sinni enn? \u00c6tlum vi\u00f0 aldrei a\u00f0 kunna a\u00f0 l\u00e6ra af reynslunni?<\/i><\/p>\n

      3. Evr\u00f3puhugsj\u00f3nin: Sigrar og \u00f3sigrar.<\/h2>\n

      \u00c9g er kominn \u00e1 \u00feann aldur, a\u00f0 \u00e9g get me\u00f0 sanni sagst hafa fylgst me\u00f0 \u00fer\u00f3un evr\u00f3pskra stj\u00f3rnm\u00e1la \u00ed meira en h\u00e1lfa \u00f6ld. \u00c9g er einl\u00e6gur unnandi Evr\u00f3puhugsj\u00f3narinnar. Samrunaferli\u00f0 \u00ed Evr\u00f3pu eftir str\u00ed\u00f0 er a\u00f0 m\u00ednu mati r\u00e9ttur l\u00e6rd\u00f3mur af s\u00f6gu hinnar str\u00ed\u00f0shrj\u00e1\u00f0u Evr\u00f3pu um \u00e1r\u00fe\u00fasund. Samrunaferli\u00f0 \u00ed Evr\u00f3pu er einst\u00f6k tilraun \u00ed al\u00fej\u00f3\u00f0asamvinnu. H\u00fan sn\u00fdst um \u00fea\u00f0 a\u00f0 leysa \u00e1greiningsm\u00e1l milli \u00fej\u00f3\u00f0r\u00edkja me\u00f0 samningum, \u00e1 grundvelli laga og r\u00e9ttar, \u00ed sta\u00f0inn fyrir a\u00f0 beita valdi. \u00deess vegna var veiting fri\u00f0arver\u00f0launa N\u00f3bels<\/b> til Evr\u00f3pusambandsins fyrr \u00e1 \u00feessu \u00e1ri ver\u00f0skuldu\u00f0.<\/p>\n

      Fram undir \u00fea\u00f0 s\u00ed\u00f0asta hefur samrunaferli\u00f0 \u00ed Evr\u00f3pu skila\u00f0 miklum \u00e1rangri. \u00dea\u00f0 hefur reynst b\u00e1\u00f0um \u00ed hag, hinum h\u00e1\u00fer\u00f3u\u00f0u og vel st\u00e6\u00f0u og hinum f\u00e1t\u00e6ku og van\u00fer\u00f3u\u00f0u. \u00dea\u00f0 hefur reynst m\u00f6rgum \u00fej\u00f3\u00f0um lyftist\u00f6ng til a\u00f0 brj\u00f3tast undan oki einr\u00e6\u00f0isstj\u00f3rna, til a\u00f0 ver\u00f0a me\u00f0teknar \u00ed samf\u00e9lag l\u00fd\u00f0r\u00e6\u00f0isr\u00edkja. Mest hafa umskiptin or\u00f0i\u00f0 fyrir sm\u00e1\u00fej\u00f3\u00f0ir<\/i> Evr\u00f3pu. \u00de\u00e6r hafa \u00ed fort\u00ed\u00f0inni veri\u00f0 har\u00f0ast leiknar sem f\u00f3rnarl\u00f6mb ofbeldis og styrjalda. Me\u00f0 a\u00f0ild a\u00f0 Evr\u00f3pusambandinu hafa \u00fe\u00e6r tryggt s\u00e9r m\u00e1lfrelsi, till\u00f6gu- og atkv\u00e6\u00f0isr\u00e9tt \u00ed \u00feeim stofnunum, sem mestu r\u00e1\u00f0a um hagsmuni \u00feeirra og \u00f6rl\u00f6g.<\/p>\n

      Innri marka\u00f0urinn og evrusamstarfi\u00f0<\/b> eru st\u00e6rstu afrekin \u00ed samrunaferlinu hinga\u00f0 til. Hvort tveggja hefur reynst vel, b\u00e6\u00f0i fyrir \u00de\u00fdskaland og Grikkland; b\u00e6\u00f0i fyrir atvinnul\u00edfi\u00f0 og venjulegt f\u00f3lk, sem hefur \u00e1unni\u00f0 s\u00e9r sama r\u00e9tt og fj\u00e1rmagni\u00f0 um frj\u00e1lsa f\u00f6r yfir landam\u00e6ri. \u00dea\u00f0 er einstakt. \u00dea\u00f0 er ford\u00e6mi fyrir afganginn af ver\u00f6ldinni. \u00cd heild hefur Evr\u00f3pusamruninn reynst vera \u00f6flugt t\u00e6ki til a\u00f0 hj\u00e1lpa hinum van\u00fer\u00f3a\u00f0ri \u00fej\u00f3\u00f0um Evr\u00f3pu til a\u00f0 n\u00e1lgast hinar, sem lengra eru \u00e1 veg komnar. \u00dea\u00f0 er l\u00edka ford\u00e6mi til eftirbreytni fyrir a\u00f0ra.<\/p>\n

      En \u00fea\u00f0 er ekki allt \u00ed s\u00f3manum \u00ed Evr\u00f3pu. Draugar fort\u00ed\u00f0arinnar s\u00e6kja enn a\u00f0 okkur. Peningam\u00e1lasamstarf Evr\u00f3pu (EMU) geldur \u00feess, a\u00f0 h\u00f6nnunin var g\u00f6llu\u00f0<\/i> strax \u00ed upphafi. Allir sem hafa teki\u00f0, \u00fe\u00f3tt ekki s\u00e9 nema byrjendan\u00e1mskei\u00f0 \u00ed peningam\u00e1lahagfr\u00e6\u00f0i vita, a\u00f0 til \u00feess a\u00f0 skila \u00e1rangri \u00fearf sameiginlegt myntsv\u00e6\u00f0i a\u00f0 uppfylla a.m.k. \u00ferj\u00fa grundvallarskilyr\u00f0i. Se\u00f0labankinn ver\u00f0ur a\u00f0 hafa \u00f3skora\u00f0 vald til a\u00f0 vera l\u00e1nveitandi til \u00ferautavara<\/i> fyrir a\u00f0ildar\u00edkin. Se\u00f0labankinn ver\u00f0ur a\u00f0 hafa \u00f3skora\u00f0 vald til a\u00f0 stj\u00f3rna peningaframbo\u00f0inu<\/i>, \u00fe.m.t. a\u00f0 kaupa r\u00edkisskuldabr\u00e9f a\u00f0ildar\u00edkja og a\u00f0 gefa \u00fat skuldabr\u00e9f. Og mi\u00f0stj\u00f3rnarvald sameiginlegs myntsv\u00e6\u00f0is ver\u00f0ur a\u00f0 hafa vald til a\u00f0 kn\u00fdja fram samh\u00e6fingu r\u00edkisfj\u00e1rm\u00e1la- og peningastefnu<\/i> til \u00feess a\u00f0 tryggja jafnv\u00e6gi og st\u00f6\u00f0ugleika kerfisins.<\/p>\n

      \u00deetta er nau\u00f0synlegt af m\u00f6rgum \u00e1st\u00e6\u00f0um. Se\u00f0labankinn ver\u00f0ur \u00e1 stundum a\u00f0 hafa bur\u00f0i til a\u00f0 vernda veikari a\u00f0ildarr\u00edki fr\u00e1 marka\u00f0ssveiflum. Se\u00f0labankinn ver\u00f0ur a\u00f0 geta haldi\u00f0 l\u00e1nt\u00f6kukostna\u00f0i veikari r\u00edkja \u00ed skefjum. Se\u00f0labankinn ver\u00f0ur, \u00ed samstarfi vi\u00f0 mi\u00f0stj\u00f3rnarvald myntsv\u00e6\u00f0isins, a\u00f0 geta st\u00f6\u00f0va\u00f0 ums\u00e1turs\u00e1stand um einst\u00f6k r\u00edki, \u00e1\u00f0ur en verra hl\u00fdst af. \u00deetta er t.d. nau\u00f0synlegt til \u00feess a\u00f0 r\u00edki \u00ed skuldavanda f\u00e1i t\u00edma og svigr\u00fam til a\u00f0 hrinda kerfisumb\u00f3tum \u00ed framkv\u00e6md, \u00e1n \u00feess a\u00f0 lama velfer\u00f0ar\u00fej\u00f3nustu vi\u00f0 almenning, einmitt \u00feegar hennar er mest \u00fe\u00f6rf, b\u00e6\u00f0i sem t\u00e6ki til sveifluj\u00f6fnunar og hagvaxtar\u00f6rvunar \u00e1 samdr\u00e1ttart\u00edmum<\/i>.<\/p>\n

      Sem kunnugt er, hefur Se\u00f0labanki Evr\u00f3pu ekkert af \u00feessum v\u00f6ldum. Hvers vegna ekki? Vissi yfirh\u00f6nnu\u00f0urinn, Jacques Delors<\/b>, og hans menn \u00e1 s\u00ednum t\u00edma ekki, a\u00f0 \u00feessir h\u00f6nnunargallar g\u00e6tu bo\u00f0i\u00f0 h\u00e6ttunni heim s\u00ed\u00f0ar meir? J\u00fa, \u00feeir vissu \u00fea\u00f0 vel. En \u00de\u00fdskaland var einfaldlega \u00f3f\u00e1anlegt til a\u00f0 v\u00edkja h\u00e1rsbreidd fr\u00e1 s\u00f6gulegri ver\u00f0b\u00f3lguf\u00f3b\u00edu sinni. \u00deetta var s\u00edgilt d\u00e6mi um hi\u00f0 \u00f3m\u00f3tst\u00e6\u00f0ilega afl<\/i> (Evr\u00f3pusamrunans), sem rakst \u00e1 hi\u00f0 \u00f3bifanlega hlass<\/i> (fort\u00ed\u00f0ardrauga Evr\u00f3pu). Brautry\u00f0jendur evru-samstarfsins l\u00e9tu s\u00e9r \u00fev\u00ed n\u00e6gja a\u00f0 vona hi\u00f0 besta; \u00feeir vonu\u00f0u a\u00f0 me\u00f0 t\u00ed\u00f0 og t\u00edma myndu hin \u00f6flugu r\u00edki og hin veikbur\u00f0a samhverfast<\/i> \u00ed n\u00e6gilega miklum m\u00e6li til \u00feess, a\u00f0 \u00fea\u00f0 myndi ekki reyna \u00e1 innbygg\u00f0a h\u00f6nnunargalla kerfisins.<\/p>\n

      \u00deetta voru alvarleg mist\u00f6k, sem reynst hafa d\u00fdru ver\u00f0i keypt. Peningam\u00e1lasamstarfi\u00f0 (EMU) er a\u00f0 \u00feessu leyti eins og h\u00e1lfk\u00f6ru\u00f0 h\u00fasbygging, \u00f3fullbur\u00f0a og hv\u00edlir \u00e1 veikum grunni. \u00deetta h\u00fas heldur hvorki ve\u00f0rum n\u00e9 vindum, \u00feegar n\u00e1tt\u00faru\u00f6flin (marka\u00f0s\u00f6flin) eru \u00ed s\u00ednum versta ham. \u00deess vegna h\u00f6fum vi\u00f0 m\u00e1tt horfa \u00e1 lei\u00f0toga Evr\u00f3pu breg\u00f0ast vi\u00f0 atbur\u00f0um \u2013 of l\u00edti\u00f0 og of seint<\/i> \u2013 me\u00f0 h\u00e1lfk\u00e1ki og skammt\u00edmalausnum. Enginn hefur haft p\u00f3lit\u00edskan kjark til a\u00f0 vi\u00f0urkenna hina innbygg\u00f0u h\u00f6nnunargalla og nau\u00f0syn \u00feess a\u00f0 r\u00e1\u00f0a b\u00f3t \u00e1 \u00feeim. Haldi \u00feeir \u00e1fram \u00e1 s\u00f6mu braut, mun \u00feeim mistakast.<\/p>\n

      BNA og EMU: Samanbur\u00f0ur.<\/h2>\n

      Samanbur\u00f0ur vi\u00f0 Bandar\u00edkin lei\u00f0ir berlega \u00ed lj\u00f3s umr\u00e6dda h\u00f6nnunargalla. Bandar\u00edkin hafa \u00e1 l\u00f6ngum t\u00edma \u00fer\u00f3ast upp \u00ed a\u00f0 vera starfh\u00e6ft myntsv\u00e6\u00f0i me\u00f0 hvorki meira n\u00e9 minna en fimmt\u00edu gj\u00f6r\u00f3l\u00edk a\u00f0ildarr\u00edki innanbor\u00f0s. Sumir segja, a\u00f0 \u00fea\u00f0 s\u00e9 einfaldlega \u00f3gerningur a\u00f0 starfr\u00e6kja myntsv\u00e6\u00f0i \u2013 \u00fe.e. sameiginlegt gengi gjaldmi\u00f0ils \u2013 me\u00f0 r\u00edki innanbor\u00f0s, sem eru \u00ed grundvallaratri\u00f0um jafn \u00f3l\u00edk og Grikkland og \u00de\u00fdskaland. En berum saman New York fylki og Alabama; e\u00f0a Alaska \u00ed nor\u00f0ri og Louisiana \u00ed hinu dj\u00fapa su\u00f0ri. E\u00f0a reynum a\u00f0 finna samnefnara milli \u00e1h\u00e6ttukap\u00edtalistanna \u00ed Silicon Valley annars vegar og r\u00f3tgr\u00f3inna b\u00e6nda \u00e1 sl\u00e9ttum Mi\u00f0vestursins hins vegar. A\u00f0 v\u00edsu eiga \u00feeir eitt sameiginlegt umfram \u00fea\u00f0 sem Evr\u00f3pa b\u00fd\u00f0ur upp \u00e1: \u00fea\u00f0 er tungum\u00e1li\u00f0 \u2013 enska. En erum vi\u00f0 ekki h\u00e9r a\u00f0 tala saman \u00e1 \u00feessu lingua franca<\/i> samt\u00edmans?<\/p>\n

      E\u00f0a berum saman Kaliforn\u00edu<\/b> og Sp\u00e1n<\/b>. Kaliforn\u00eda stendur fyrir 12% af bandar\u00edska hagkerfinu, sem er samb\u00e6rilegt vi\u00f0 hlut Sp\u00e1nar innan evrusv\u00e6\u00f0isins. \u00dea\u00f0 er l\u00f6ngu vita\u00f0, a\u00f0 Kaliforn\u00eda er \u201et\u00e6knilega\u201c gjald\u00ferota og hefur veri\u00f0 \u00e1rum saman (r\u00e9tt eins og Grikkland). Kaliforn\u00edur\u00edki hefur me\u00f0 \u00fej\u00f3\u00f0aratkv\u00e6\u00f0i afsala\u00f0 s\u00e9r fullveldisr\u00e9tti s\u00ednum til a\u00f0 h\u00e6kka skatta, \u00fe\u00f3tt \u00fatgj\u00f6ld r\u00edkisins haldi \u00e1fram a\u00f0 hrannast upp. Aflei\u00f0ingin er s\u00fa, a\u00f0 r\u00edkisfj\u00e1rm\u00e1l eru \u00ed kaldakoli og stj\u00f3rnm\u00e1lakerfi\u00f0 er lama\u00f0. Hvers vegna hafa marka\u00f0irnir ekki seti\u00f0 um Kaliforn\u00edu (eins og Grikkland)? Hvers vegna hafa marka\u00f0irnir ekki sprengt upp l\u00e1nt\u00f6kukostna\u00f0 Kaliforn\u00edu og s\u00f6kkt r\u00edkinu \u00ed \u00f3b\u00e6rilegt skuldafen? Hafa einhverjir \u00ed Washington D.C. e\u00f0a \u00ed Chicago e\u00f0a \u00ed Seattle lagt til, a\u00f0 Kaliforn\u00eda ver\u00f0i rekin \u00far r\u00edkjasambandinu? Nei, \u00fea\u00f0 hefur ekki hvarfla\u00f0 a\u00f0 nokkrum manni. Hvers vegna ekki? Vegna \u00feess a\u00f0 alr\u00edkisstj\u00f3rnin og bandar\u00edski Se\u00f0labankinn (Federal Reserve) standa vi\u00f0 baki\u00f0 \u00e1 Kaliforn\u00edu<\/i> me\u00f0 fullu afli, sem enginn v\u00e9fengir. Enginn \u00ed \u00f6\u00f0rum fylkjum Bandar\u00edkjanna hefur heyrst kvarta undan \u00fev\u00ed, a\u00f0 \u00feeir \u00feurfi a\u00f0 borga skuldir hinna r\u00e1\u00f0deildarlausu Kaliforn\u00edub\u00faa, \u00fear sem \u00feeir ba\u00f0a sig \u00e1 gullnum s\u00f3larstr\u00f6ndum (r\u00e9tt eins og Grikkir). Sameiginleg \u00e1byrg\u00f0 \u00e1 skuldum er sine qua non<\/i> sameiginlegs myntsv\u00e6\u00f0is, sem \u00e1 a\u00f0 standa undir nafni. Anna\u00f0hvort erum vi\u00f0 \u00ed \u00feessu einn fyrir alla og allir fyrir einn<\/i>, e\u00f0a vi\u00f0 hef\u00f0um aldrei \u00e1tt a\u00f0 sverjast \u00ed \u00feetta f\u00f3stbr\u00e6\u00f0ralag \u00ed upphafi.<\/p>\n

      Ef eitthvert fylki innan Bandar\u00edkjanna er \u00ed fj\u00e1rhagsvanda, er engin h\u00e6tta \u00e1 \u00fev\u00ed, a\u00f0 \u00fea\u00f0 ver\u00f0i lagt \u00ed einelti af fj\u00e1rhagslegum hr\u00e6g\u00f6mmum, vegna \u00feess a\u00f0 \u00feeir vita, a\u00f0 yfir\u00feyrmandi afl alr\u00edkisstj\u00f3rnarinnar og Se\u00f0labankans stendur a\u00f0 baki fylkinu. \u00c1 \u00fev\u00ed leikur heldur enginn vafi, a\u00f0 alr\u00edkisstj\u00f3rnin og Se\u00f0labankinn sameiginlega hafa til \u00feess alla bur\u00f0i a\u00f0 reka sl\u00edkt ums\u00e1tur af h\u00f6ndum s\u00e9r. \u00deetta er \u00fea\u00f0 sem Evr\u00f3pusambandi\u00f0 \u00e1tti a\u00f0 gera strax \u00ed upphafi, a\u00f0 \u00fev\u00ed er var\u00f0ar Grikkland. Til \u00feess h\u00f6fum vi\u00f0 alr\u00edkisstj\u00f3rn og sameiginlegan Se\u00f0labanka<\/i>. Au\u00f0vita\u00f0 geta \u00feessir a\u00f0ilar sett skilyr\u00f0i fyrir stu\u00f0ningi s\u00ednum, svo sem eins og t.d. a\u00f0 tilteknum kerfisbreytingum ver\u00f0i hrundi\u00f0 \u00ed framkv\u00e6md. En yfirv\u00f6ld, sem l\u00e1ta stj\u00f3rnast af skynsemi en ekki kreddum, halda ekki til streitu ni\u00f0urskur\u00f0arkr\u00f6fum, sem k\u00e6fa hagv\u00f6xt \u00ed f\u00e6\u00f0ingunni<\/i> og svifta \u00feannig \u00feann, sem er a\u00f0sto\u00f0ar \u00feurfi, getunni til a\u00f0 borga skuldir s\u00ednar.<\/p>\n

      \u00dea\u00f0 er margt h\u00e6gt a\u00f0 l\u00e6ra af Bandar\u00edkjam\u00f6nnum – b\u00e6\u00f0i um hvernig ekki \u00e1 a\u00f0 hafa hlutina, og einnig um hvernig \u00e1 a\u00f0 n\u00e1 \u00e1rangri<\/i>. Evr\u00f3pumenn hafa l\u00e6rt helst til miki\u00f0 af \u00fev\u00ed fyrrnefnda, en trassa\u00f0 \u00fea\u00f0 s\u00ed\u00f0arnefnda.<\/p>\n

      4. Hva\u00f0 er til r\u00e1\u00f0a?<\/h2>\n

      Vonandi hef \u00e9g \u00feegar sagt n\u00f3g til a\u00f0 gefa til kynna, a\u00f0 vi\u00f0 st\u00f6ndum frammi fyrir vali<\/i>: Anna\u00f0hvort komast eigendur fj\u00e1rmagnsins upp me\u00f0 fj\u00e1rk\u00fagun<\/i> \u2013 nefnilega a\u00f0 skattgrei\u00f0endur grei\u00f0i skuldir \u00feeirra e\u00f0a s\u00e6ti efnahagslegum afarkostum ella; e\u00f0a \u00fei\u00f0, l\u00fd\u00f0r\u00e6\u00f0islega kj\u00f6rnir fulltr\u00faar f\u00f3lksins, beiti\u00f0 valdi r\u00edkisins, sem ykkur hefur veri\u00f0 fali\u00f0 a\u00f0 fara me\u00f0, til a\u00f0 st\u00f6\u00f0va \u00feessa uppiv\u00f6\u00f0slusemi. L\u00fd\u00f0r\u00e6\u00f0islegt r\u00edkisvald hefur b\u00e6\u00f0i l\u00f6gm\u00e6ti\u00f0 og valdi\u00f0 \u2013 l\u00f6ggjafarvald, framkv\u00e6mdavald og d\u00f3msvald \u2013 til \u00feess a\u00f0 v\u00edsa \u00e1 bug fj\u00e1rk\u00fagunarkr\u00f6fum af \u00feessu tagi. Og a\u00f0 setja hinum ofurr\u00edku st\u00f3linn fyrir dyrnar. Ef \u00fei\u00f0 geri\u00f0 \u00feetta ekki, \u00fe\u00e1 mun r\u00e1s atbur\u00f0anna veikja evrusamstarfi\u00f0 og jafnvel valda \u00fev\u00ed a\u00f0 lokum, a\u00f0 \u00fea\u00f0 gli\u00f0ni \u00ed sundur. \u00c9g l\u00e6t ykkur eftir a\u00f0 huglei\u00f0a aflei\u00f0ingarnar. \u00deetta minnir mig \u00e1 or\u00f0skvi\u00f0, sem haf\u00f0ur er eftir einum merkasta umb\u00f3tamanni li\u00f0innar aldar, sem \u00fej\u00f3na\u00f0i \u00e1 \u00e6viskei\u00f0i einnar kynsl\u00f3\u00f0ar sem fors\u00e6tisr\u00e1\u00f0herra Sv\u00eda, Tage Erlander<\/b>: \u201eMarka\u00f0urinn er \u00fearfur \u00fej\u00f3nn, en \u00f3\u00feolandi h\u00fasb\u00f3ndi<\/i>\u201c. \u00dea\u00f0 hefur aldrei veri\u00f0 eins br\u00fdnt og n\u00fa, a\u00f0 f\u00f3lki\u00f0 \u2013 \u00ed krafti l\u00fd\u00f0r\u00e6\u00f0isins \u2013 setjist aftur \u00ed h\u00fasb\u00f3ndas\u00e6ti\u00f0 og taki vi\u00f0 stj\u00f3rninni \u00e1 \u00fej\u00f3\u00f0arheimilinu. Sj\u00e1lf framt\u00ed\u00f0 mannkynsins \u00e1 \u00feessari pl\u00e1netu er reyndar undir \u00fev\u00ed komin, a\u00f0 stj\u00f3rnlaus kap\u00edtalismi<\/i> (au\u00f0r\u00e6\u00f0i) ver\u00f0i beisla\u00f0ur \u00ed \u00fe\u00e1gu almannahagsmuna. Hafi\u00f0 \u00feetta hugfast. Ef \u00fei\u00f0 geri\u00f0 skyldu ykkar \u2013 og endurreisi\u00f0 \u201eGovernment of the people, by the people and for the people<\/i>\u201c \u2013 me\u00f0 or\u00f0um Abrahams Lincoln<\/b> \u2013 \u00fe\u00e1 muni\u00f0 \u00fei\u00f0 for\u00f0a evru-samstarfinu fr\u00e1 upplausn og jafnvel veita \u00fev\u00ed fars\u00e6lt framhaldsl\u00edf.<\/p>\n

      M\u00e1 \u00e9g gerast svo djarfur a\u00f0 nefna nokkur af \u00feeim \u00farr\u00e6\u00f0um, sem b\u00ed\u00f0a \u00feess, a\u00f0 \u00feeim ver\u00f0i hrint \u00ed framkv\u00e6md?<\/b><\/p>\n

        \n
      • Fullmyndugur Se\u00f0labanki:<\/b> Veiti\u00f0 Se\u00f0labanka Evr\u00f3pu fullt vald til \u00feess a\u00f0 ver\u00f0a l\u00e1nveitandi r\u00edkisstj\u00f3rna til \u00ferautavara; sem og vald til a\u00f0 gefa \u00fat \u201eeurobonds\u201c og kaupa skuldabr\u00e9f \u00fej\u00f3\u00f0r\u00edkja \u2013 sem bakhjarl a\u00f0ildarr\u00edkja, sem eru undir \u00fer\u00fdstingi fr\u00e1 m\u00f6rku\u00f0um. Setji\u00f0 skilyr\u00f0i, ef \u00fe\u00f6rf krefur, um \u00fea\u00f0 a\u00f0 \u00feessar r\u00edkisstj\u00f3rnir hrindi \u00ed framkv\u00e6md kerfisbreytingum, sem teljast nau\u00f0synlegar til langs t\u00edma. En gefi\u00f0 a\u00f0ildarr\u00edkjum t\u00edma til a\u00f0 framkv\u00e6ma \u00feessar umb\u00e6tur. \u00devingi\u00f0 ekki r\u00edkisstj\u00f3rnir til a\u00f0 limlesta velfer\u00f0arr\u00edki f\u00f3lksins, \u00feegar \u00fej\u00f3nustu \u00feess er mest \u00fe\u00f6rf, \u00e1 samdr\u00e1ttart\u00edmum, b\u00e6\u00f0i sem hagvaxtar-hvata, til a\u00f0 \u00f6rva eftirspurn, og sem m\u00f3teitur gegn ni\u00f0urskur\u00f0i, sem k\u00e6fir hagv\u00f6xt \u00ed f\u00e6\u00f0ingu.<\/li>\n
      • Endurreisi\u00f0 einangrunarvegginn<\/b> milli sm\u00e1s\u00f6lubanka, sem eiga a\u00f0 var\u00f0veita og \u00e1vaxta sparna\u00f0 almennings og bj\u00f3\u00f0a \u00feess vegna upp \u00e1 tryggingu l\u00e1gmarksinnist\u00e6\u00f0na<\/i> \u2013 og hins vegar annarra fj\u00e1rm\u00e1lastofnana, sem l\u00edta \u00e1 \u00fea\u00f0 sem meginhlutverk sitt a\u00f0 h\u00e1marka skammt\u00edmagr\u00f3\u00f0a eigenda. \u00dear af lei\u00f0ir, a\u00f0 \u00feeir eiga sj\u00e1lfir og einir<\/i> a\u00f0 bera tapi\u00f0, ef illa fer. Bindum \u00ed eitt skipti fyrir \u00f6ll endi \u00e1 \u00fea\u00f0 si\u00f0leysi, a\u00f0 gr\u00f3\u00f0inn s\u00e9 einkav\u00e6ddur en tapi\u00f0 \u00fej\u00f3\u00f0n\u00fdtt<\/i>.<\/li>\n
      • Samr\u00e6md r\u00edkisfj\u00e1rm\u00e1la- og peningam\u00e1lastefna:<\/b> \u00cd \u00feessu efni ber a\u00f0 byggja \u00e1 st\u00f6\u00f0ugleikas\u00e1ttm\u00e1lanum, en gera \u00fe\u00e6r r\u00e1\u00f0stafanir, sem \u00fearf til a\u00f0 tryggja, a\u00f0 hann haldi. The Economist Intelligence Unit<\/b> hefur sett fram till\u00f6gur um, a\u00f0 skuldir \u00fej\u00f3\u00f0r\u00edkja umfram 60% af VLF (h\u00e1mark skv. st\u00f6\u00f0ugleikas\u00e1ttm\u00e1lanum) ver\u00f0i yfirteknar af sameiginlegri stofnun og sami\u00f0 um framlengingu \u00feessara skuldbindinga fram \u00ed t\u00edmann og \u00e1 betri kj\u00f6rum. \u00deetta mundi \u00fevinga \u201emarka\u00f0ina<\/i>\u201c til a\u00f0 axla hluta af \u00feeirra eigin \u00e1byrg\u00f0 \u00e1 \u00f3sj\u00e1lfb\u00e6ru b\u00f3luhagkerfi \u00e1 uppsveiflu\u00e1runum fyrir kreppu. Hlustum \u00e1 vi\u00f0v\u00f6runaror\u00f0 fyrrverandi fj\u00e1rm\u00e1lar\u00e1\u00f0herra \u00de\u00fdskalands og n\u00faverandi kanslarakandidat, Hr. Steinbr\u00fccker<\/b>: \u201eVi\u00f0 ver\u00f0um a\u00f0 binda endi \u00e1 \u00fea\u00f0, a\u00f0 r\u00edki\u00f0 fallist \u00e1 a\u00f0 taka \u00e1 sig, \u00fe.e. skattgrei\u00f0endur, skuldbindingar, sem eru aflei\u00f0ingar rangra \u00e1kvar\u00f0ana, vanmats \u00e1 \u00e1h\u00e6ttu og \u00e1byrg\u00f0arlausrar sp\u00e1kaupmennsku. Hvers vegna \u00e6ttu fj\u00e1rm\u00e1lastofnanir a\u00f0 vera undan\u00feegnar \u00feeirri kv\u00f6\u00f0 a\u00f0 bera \u00e1byrg\u00f0 \u00e1 aflei\u00f0ingum eigin \u00e1kvar\u00f0ana?<\/i>\u201c<\/li>\n
      • Sameiginleg bankastofnun<\/b> Evr\u00f3pusambandsins ver\u00f0i stofnu\u00f0 \u00ed \u00fev\u00ed skyni a\u00f0 framfylgja reglum og annast eftirlit me\u00f0 \u00f6llum b\u00f6nkum og fj\u00e1rm\u00e1lastofnunum, sem starfa \u00fevert yfir landam\u00e6ri, og tryggi, a\u00f0 l\u00e1gmarkstrygging innist\u00e6\u00f0na standist, jafnvel kerfisl\u00e6ga<\/i> kreppu.<\/li>\n
      • Tobin-skatturinn<\/b> \u00e1 fj\u00e1rm\u00e1lavi\u00f0skipti er handh\u00e6gt t\u00e6ki til a\u00f0 hafa stj\u00f3rn \u00e1 \u00feeim \u00f6fgakenndu starfsh\u00e1ttum, sem leiddu til \u00feess, a\u00f0 fj\u00e1rm\u00e1lageirinn f\u00f3r fram \u00far sj\u00e1lfum s\u00e9r \u00e1 b\u00f3lut\u00edmanum. Hann er til \u00feess fallinn a\u00f0 gera hvort tveggja, a\u00f0 skila nau\u00f0synlegum tekjum (til a\u00f0 draga \u00far l\u00edkum \u00e1 a\u00f0 t\u00f6p lendi \u00e1 skattgrei\u00f0endum) og sem stj\u00f3rnt\u00e6ki gegn \u00f3heilbrig\u00f0um vi\u00f0skiptah\u00e1ttum.<\/li>\n
      • Matsfyrirt\u00e6kin<\/b> kalla \u00e1 umb\u00e6tur. H\u00e9r \u00fearf hvort tveggja, lagabreytingar og \u00f6flugt eftirlit til a\u00f0 binda endi \u00e1 innbygg\u00f0a hagsmuna\u00e1rekstra<\/i> og hvata til a\u00f0 gefa m\u00f6rku\u00f0um villandi og s\u00ed\u00f0b\u00fanar uppl\u00fdsingar.<\/li>\n
      • Loki\u00f0 \u00feessum skattaparad\u00edsum:<\/b> R\u00edkisstj\u00f3rnum \u00ed l\u00fd\u00f0r\u00e6\u00f0isr\u00edkjum ber skylda til a\u00f0 standa v\u00f6r\u00f0 um r\u00e9ttarr\u00edki\u00f0. \u00deeim ber skylda til a\u00f0 tryggja \u00f6llum r\u00edkisborgurum s\u00ednum jafnr\u00e9tti fyrir l\u00f6gum. Al\u00fej\u00f3\u00f0astofnanir, svo sem eins og G-20, Al\u00fej\u00f3\u00f0abankinn, Al\u00fej\u00f3\u00f0agjaldeyrissj\u00f3\u00f0urinn og Evr\u00f3pusambandi\u00f0 vilja l\u00e1ta l\u00edta svo \u00e1, a\u00f0 \u00feessar stofnanir l\u00e1ti s\u00e9r annt um a\u00f0 tryggja, a\u00f0 sameiginlegar leikreglur<\/i> s\u00e9u \u00ed hei\u00f0ri haf\u00f0ar \u00ed al\u00fej\u00f3\u00f0avi\u00f0skiptum. Hvernig m\u00e1 \u00fea\u00f0 vera, a\u00f0 l\u00fd\u00f0r\u00e6\u00f0islega kj\u00f6rnar r\u00edkisstj\u00f3rnir taka \u00fev\u00ed, \u00feegjandi og a\u00f0ger\u00f0arlaust, a\u00f0 eigendur fj\u00e1rmagnsins, hinir ofurr\u00edku, \u00feetta svokalla\u00f0a 1%, taki l\u00f6gin \u00ed eigin hendur <\/i>og undanskilji au\u00f0leg\u00f0 s\u00edna og ofurtekjur fr\u00e1 skattlagningu \u00ed \u00fe\u00e1gu almannahagsmuna? Hvers vegna l\u00ed\u00f0st \u00fea\u00f0, a\u00f0 r\u00edkisstj\u00f3rnir \u00ed l\u00fd\u00f0r\u00e6\u00f0isr\u00edkjum afhendi au\u00f0r\u00e6\u00f0isel\u00edtu heimsins sl\u00edk forr\u00e9ttindi<\/i>? Hvernig getum vi\u00f0 v\u00e6nst \u00feess, a\u00f0 l\u00f6ghl\u00fd\u00f0nir r\u00edkisborgarar og fyrirt\u00e6ki keppi \u00e1 marka\u00f0i vi\u00f0 keppinauta, sem eru hafnir yfir l\u00f6gin, og hafa skenkt s\u00e9r fyrirfram, \u00e1t\u00f6lulaust, sl\u00edka marka\u00f0syfirbur\u00f0i?<\/li>\n
      • Stoppum \u00feetta \u2013 og stoppum \u00fea\u00f0 strax.<\/b><\/li>\n<\/ul>\n

        Fyrir meira en heilli \u00f6ld st\u00f3\u00f0 bandar\u00edskur forseti frammi fyrir yfir\u00feyrmandi, \u00e1byrg\u00f0arlausu og spillandi valdi hinna svok\u00f6llu\u00f0u \u201erobber barons<\/i>\u201c , sem \u00ed krafti au\u00f0s s\u00edns r\u00e9\u00f0u l\u00f6gum og lofum \u00ed bandar\u00edsku \u00fej\u00f3\u00f0f\u00e9lagi; og h\u00f6f\u00f0u keypt bandar\u00edska \u00feingi\u00f0 a\u00f0 st\u00f3rum hluta til \u00fej\u00f3nustu vi\u00f0 sig og \u00feannig gert hi\u00f0 unga bandar\u00edska l\u00fd\u00f0r\u00e6\u00f0i a\u00f0 skr\u00edpamynd af sj\u00e1lfu s\u00e9r. Theodore Roosevelt<\/b> r\u00e9\u00f0st til atl\u00f6gu vi\u00f0 \u00fe\u00e1. Hann sag\u00f0i eftirminnilega \u00ed r\u00e6\u00f0u, \u00fear sem hann l\u00fdsti str\u00ed\u00f0i \u00e1 hendur \u00f3l\u00edg\u00f6rkunum<\/i>, a\u00f0 \u00fea\u00f0 v\u00e6ri t\u00edmi til kominn a\u00f0 krefjast r\u00e9ttl\u00e1tari skiptingar \u00e1 ar\u00f0i stritsins \u201emilli \u00feeirra manna, sem eiga meira en \u00feeir hafa unni\u00f0 fyrir og \u00feeirra manna, sem hafa unni\u00f0 fyrir meiru en \u00feeir eiga<\/i>\u201c. Roosevelt beitti valdi r\u00edkisins til \u00feess a\u00f0 st\u00f6\u00f0va ofr\u00edki \u00f3l\u00edgarkanna og tryggja hagsmuni almennings. Hann gekkst upp vi\u00f0 \u00fev\u00ed a\u00f0 vera kalla\u00f0ur \u201eroughneck\u201c, har\u00f0ur \u00ed horn a\u00f0 taka. Og \u00fea\u00f0 var hann sem sag\u00f0i, a\u00f0 \u201ewhen the going gets tough, the tough get going<\/i>\u201c.<\/p>\n

        \u00dea\u00f0 eru \u00e1rei\u00f0anlega har\u00f0neskjulegir t\u00edmar framundan. En hva\u00f0 heldur aftur af ykkur, fulltr\u00faum f\u00f3lksins? Er ekki kominn t\u00edmi til a\u00f0 l\u00e1ta til skarar skr\u00ed\u00f0a?<\/p>","protected":false},"excerpt":{"rendered":"

        Dagana 8. \u2013 9. n\u00f3v. s.l. var \u00e9g hei\u00f0ursgestur \u00e1 \u00feingi Eystrasalts\u00fej\u00f3\u00f0a (Baltic Assembly), sem haldi\u00f0 var \u00ed Vilnius, Lith\u00e1en. \u00deing Eystrasalts\u00fej\u00f3\u00f0a er s\u00f6mu ger\u00f0ar og Nor\u00f0urlanda\u00feing. \u00dear hittast \u00feingmenn, r\u00e1\u00f0herrar, emb\u00e6ttismenn, s\u00e9rfr\u00e6\u00f0ingar og fj\u00f6lmi\u00f0lungar til a\u00f0 r\u00e6\u00f0a sameiginleg hagsmunam\u00e1l. A\u00f0alm\u00e1l \u00feingsins var Evr\u00f3pum\u00e1l og samstarf Eystrasalts\u00fej\u00f3\u00f0a (og Nor\u00f0urlanda) innan Evr\u00f3pusambandsins. \u00c9g flutti \u00fearna svokalla\u00f0a stefnur\u00e6\u00f0u (key-note speech) undir heitinu:

        \u201eWhat\u00b4s wrong with Europe? And by the Way: Why don\u00b4t you Fix it?\u201c<\/H2> R\u00e6\u00f0an fer h\u00e9r \u00e1 eftir \u00ed slenskum b\u00faningi. <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1,7],"tags":[],"class_list":["post-1315","post","type-post","status-publish","format-standard","hentry","category-allar_greinar","category-articles-in-english"],"_links":{"self":[{"href":"https:\/\/jbh.is\/index.php?rest_route=\/wp\/v2\/posts\/1315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jbh.is\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jbh.is\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jbh.is\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jbh.is\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1315"}],"version-history":[{"count":3,"href":"https:\/\/jbh.is\/index.php?rest_route=\/wp\/v2\/posts\/1315\/revisions"}],"predecessor-version":[{"id":2733,"href":"https:\/\/jbh.is\/index.php?rest_route=\/wp\/v2\/posts\/1315\/revisions\/2733"}],"wp:attachment":[{"href":"https:\/\/jbh.is\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jbh.is\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jbh.is\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}