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Bildung einer Fiskalunion: Ein wirkungsvolles Instrument zur Stabilisierung der Eurozone?

Author

Listed:
  • Charles B. Blankart
  • Katharina Gnath
  • Jörg Haas
  • Thiess Büttner
  • Frank Westermann

Abstract

Im Juni 2015 legten Jean-Claude Juncker, Donald Tusk, Jeroen Dijsselbloem, Mario Draghi und Martin Schulz Vorschläge zur »langfristigen Stärkung der Währungsunion« vor. Sie sehen unter anderem auch die Einsetzung eines beratenden Europäischen Fiskalausschusses vor, der die Arbeit der nationalen Räte für Finanzpolitik koordinieren soll. Kann das ein wirkungsvolles Instrument zur Stabilisierung der Eurozone sein? Nach Ansicht von Charles B. Blankart, Humboldt-Universität zu Berlin und Universität Luzern, hat sich die Europäische Union seit etwa 1992 grundlegend verändert. Während sie bis dahin dem zweiseitigen Handel, einem privaten Gut diente, stehe seither der Euro als ein öffentliches Gut im Vordergrund. Blankart sieht in den Zielen der Vorschläge die bekannten »Öffentlichen-Gut-Probleme« des Euro. Die Vorleistungen des einen bewirken nicht automatisch Gegenleistungen des anderen. Das Freifahrerverhalten wird nicht beseitigt. Katharina Gnath, Bertelsmann Stiftung, und Jörg Haas, Jacques Delors Institut – Berlin, argumentieren, dass eine Fiskalunion nur dann stabilisieren kann, wenn sie sowohl glaubwürdige Haushaltsregeln als auch Elemente der Teilung von Risiko umfasst. Sie sei ein wichtiges Mittel zur wirksamen Stärkung der Eurozone, dürfe aber nicht das einzige bleiben. Thiess Büttner, Universität Erlangen-Nürnberg, ist der Ansicht, dass der Vorschlag kaum geeignet sei, die Europäische Währungsunion durchgreifend zu stabilisieren. Je nach der Ausgestaltung könnte er sich sogar als kontraproduktiv erweisen. Frank Westermann, Universität Osnabrück, sieht Parallelen in der jüngsten Entwicklung der Europäischen Währungsunion zu derjenigen Ostdeutschlands nach der Wiedervereinigung. Die reale Lohnentwicklung eile der Produktivität voraus, und es entwickle sich ein Transfersystem, das einen Aufschub notwendiger Arbeitsmarktreformen ermögliche. Eine langfristig expansive Fiskalpolitik, die in einer Fiskalunion institutionalisiert würde, könne nur kurzfristig die Nachfrage stimulieren, habe aber dauerhaft steigende Staatsschulden und sich künftig wiederholende Krisen zufolge.

Suggested Citation

  • Charles B. Blankart & Katharina Gnath & Jörg Haas & Thiess Büttner & Frank Westermann, 2015. "Bildung einer Fiskalunion: Ein wirkungsvolles Instrument zur Stabilisierung der Eurozone?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 68(20), pages 03-16, October.
  • Handle: RePEc:ces:ifosdt:v:68:y:2015:i:20:p:03-16
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    References listed on IDEAS

    as
    1. Hans-Werner Sinn & Frank Westermann, 2000. "Two Mezzogiornos," CESifo Working Paper Series 378, CESifo.
    2. Hans-Werner Sinn, 2014. "Austerity, Growth and Inflation: Remarks on the Eurozone's Unresolved Competitiveness Problem," The World Economy, Wiley Blackwell, vol. 37(1), pages 1-13, January.
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    More about this item

    Keywords

    Europäische Finanzpolitik; EU-Finanzbeziehungen; Eurozone;
    All these keywords.

    JEL classification:

    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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