KOKOA
Ua hāʻawi mau ʻo Sepania i kāna mau waihona i nā waihona; ma ka ʻike (nā moʻokāki o kēia manawa) a i ʻole ka wā. ʻO nā huahana me ka liʻiliʻi nui, palekana loa a, i ka manawa, ʻoi aku ka maikaʻi. I kēia manawa ʻo ka hoʻihoʻi i hāʻawi ʻia e nā panakō he mea ʻole a maikaʻi ʻole i kekahi mau hihia ... akā ua kokoke e loli i ka wā pōkole. E uku hou ka panakō no kēia mau waihona.
I ka hopena o Pepeluali 2022, e like me ka Bank of Spain, ua ʻoi aku ka nui o nā hale ma mua o 960.000 miliona euros i nā waihona, ʻo ka hapa nui o lākou i nā moʻolelo o kēia manawa. ʻO nā hui, he 305.411 miliona, ʻoi aku ka nui o ka ʻike. ʻO kēlā me kēia manawa i ʻoi aku ka kiʻekiʻe o nā helu, akā ʻokoʻa kona hoʻonohonoho ʻana i nā makahiki i hala aku nei, ʻoiai i ka pilikia ma mua o ka mea i haki nui loa, i kekahi manawa, ʻo ia nā waihona manawa a ʻaʻole nā waihona ʻike, a ʻo ia ka mea kūʻē.
No ke aha i hoihoi nui ai nā waihona manawa i nā makahiki mua o nā makahiki 2000? No ka palekana a lākou i hāʻawi ai a no ka uku a lākou i hāʻawi ai. Ua hōʻike ʻia kēia mau hua huaʻōlelo ma mua o ka 5% hoʻi i nā hale (ʻikepili mai ʻOkakopa 2008) a ʻoi aku ma mua o 4.7% i nā hui. A laila, hoʻopau ka pilikia piliki a me ka debacle kālā i nā mea āpau.
Ka ulu ʻana o nā mea pili
o na waihona
hale
Waiho i kou maka
hale
Nā kikowaena makahiki
paona awelika kaumaha
Nā Hui
Nā waihona i ka ʻike
Nā Hui
Nā kikowaena makahiki
paona awelika kaumaha
Puna: Bank of Spain / ABC
Ka ulu ʻana o nā mea pili
o na waihona
hale
Waiho i kou maka
hale
Nā kikowaena makahiki
paona awelika kaumaha
Nā Hui
Nā waihona i ka ʻike
Nā Hui
Nā kikowaena makahiki
paona awelika kaumaha
Puna: Bank of Spain / ABC
Ua hoʻoholo ka European Central Bank (ECB) e hana ma ke kahe ʻana i nā mākeke me ka wai, i kēlā me kēia makahiki. ʻO ka uku panee kuhikuhi i lawe ʻia i 0%, aia i kēia manawa, a ʻike ʻia ʻo ke kumu kūʻai o ke kālā ʻoiai ʻo ia ka mea e uku ai i nā panakō e hōʻaiʻē mai ka luna; ke ʻano o ka waihona waihona - ʻo ka mea a ka ECB e koi ai i nā panakō no ka waiho ʻana i ka wai nui i loko o kāna moʻokāki - waiho i ka maikaʻi ma -0,5%. Ua lilo ke kālā i mea waiwai ʻole.
Ma kēia kūlana, e hoʻomau mau nei, ʻaʻole i hiki i nā panakō ke uku i ka mea a lākou i uku ai no ka waiho ʻana a i nā makahiki ua hāʻule lākou i kā lākou waiwai. No nā waihona i kēia manawa, uku ʻia nā ʻohana, ka ʻike a me ka manawa, ma waena o 0.01% a me 0.04%. Me nā hui, ʻoi aku ka maikaʻi o ke kiʻi: loaʻa nā moʻokāki o kēia manawa he 0,02%, a ʻo nā huahana huaʻōlelo ma -0,19%. ʻO ia hoʻi, uku ʻia nā hui a me nā mea kūʻai aku no ka ʻae ʻana i kā lākou waihona.
ʻAʻole i hoʻopiʻi nā panakō i nā ʻohana no ka mālama ʻana i kā lākou kālā, akā he hanana ia i kanu ʻia i ka ʻāpana i nā manawa he nui. ʻO ka hope, ʻaʻole i hana nā panakō ma muli o ke kumu kūʻai o ka inoa a me ka nalowale o nā mea kūʻai aku e hiki ai ke komo.
ʻO ka ʻoiaʻiʻo, ua hoʻopiʻi nā panakō no nā makahiki e pili ana i ka hoʻonui ʻia ʻana o ke kulekele accommodative o ka ECB. Lohe ka ʻāpana i ka pilikia ma mua ʻo Mario Draghi, ma ke ʻano he pelekikena o ka luna hoʻomalu, pono e hana i nā hoʻoholo koʻikoʻi, akā paipai pū nō hoʻi i ka normalizing i ke kūlana i ka hiki. ʻO ka inflation kiʻekiʻe loa i nā makahiki he pono e hiki mai kēia. Ke noʻonoʻo nei ʻo Christine Lagarde's ECB i ka hoʻonui ʻana i ka uku paneʻe, ke hoʻopau ʻo ia i nā papahana kūʻai aie, e loaʻa ai ka piʻi ʻana o nā kumukūʻai. E hiki mai ana ia mai Iulai, ma ka nana ana i na olelo hoolaha a na lala o kona Aha Aupuni, oiai nae e hiki ke hookauluaia ka pii mua ana a hiki i ka hopena o ka makahiki. A ʻo ka piʻi ʻana o nā kumukūʻai ʻoi aku ka maikaʻi o ka ʻoihana panakō, no ka mea he waiwai hou ke kālā, akā ʻo nā mea hoʻopakele pū kekahi, e like me nā kumu kālā, ʻoiai ua hoʻopaʻi ʻia ka mālama kālā no nā makahiki. ʻAʻole ia he mea nui e pili ana i ka ʻimi ʻana i kahi ʻāpana kālā, akā e pili ana i ka hoʻōki ʻana i ka hoʻonui ʻana o nā makahiki i hala iho nei a me ka hoʻoponopono ʻana i ke kūlana, e like me ka mea i hōʻike ʻia ma ka hui panakō.
Paipai ka ECB i ka mākeke
No laila, ke kūʻai aku nei ka mākeke e loaʻa kahi piʻi nui e ka ECB i nā mahina e hiki mai ana - i ka ʻike ʻana, no ka laʻana, nā kumukūʻai panakō, ka Euribor i hoʻi i ka maikaʻi ... -, a ke kumu kēia i nā hui e hoʻomākaukau. ko lakou mau helu kaulike no na mea e hiki mai ana. ʻO ia hoʻi, he hoʻonui i ka uku i hāʻawi ʻia i kāna mau mea kūʻai aku no ka waiho ʻana, akā he piʻi hoʻi i ke kumukūʻai o ka hōʻaiʻē, e hōʻike ana i kahi paʻa o ka loaʻa ʻana o ka waiwai e nā hui a me nā ʻohana.
Ua hōʻoia nā kumu kālā e uku hou nā panakō i nā waihona, a e hoʻonui pū lākou i ke kumukūʻai o nā hōʻaiʻē. Ua ʻike mākou aia kahi anomaly a ua lohi loa ka hoʻopau ʻana i ka weliweli o nā poʻe a me nā hui. Eia naʻe, ʻaʻole kēia manaʻo e hiki koke mai ka 5% i hāʻawi ʻia i ka makahiki 2008. E hoʻonui mālie ʻia ka piʻi ʻana me nā hoʻoholo a ka ECB, a me ka noʻonoʻo ʻana i ka palena o kēlā me kēia hui.
Ma kēia hihia, ʻike ʻia nā kumu i kūkākūkā ʻia e hiki ke hoʻoneʻe ʻia ke kaua no ka hopu ʻana i nā moraki i ka hopu ʻana i nā waihona wā waena, ʻoiai he melon ia i wehe ʻole ʻia.
