Irhuluneli, umxhasi oqinileyo wesidingo sokuyila isicwangciso sokuhlanganiswa kwemali esiza kuphunyezwa ngoku ukuzisa iimali zoluntu phantsi kolawulo, uqikelele ukuba amazinga enzala aya kuqhubeka enyuka kakhulu kwiintlanganiso ezizayo. -Intlanganiso yokugqibela ye-ECB yagqiba ekubeni ingenise inzala yesiqingatha senqaku. Uphi na isilingi ukuyeka ukwandisa kubo, okanye hairpin? -Amazinga enzala aya kuthi chu ukuya kutsho kumanqanaba aya kuqinisekisa ukuba ukunyuka kwamaxabiso kubuyela kwithagethi ye-2% kwixesha eliphakathi. Leliphi inqanaba? Ukungaqiniseki kokwenyani kuphezulu kangangokuba ukuqhelaniswa okuchanekileyo akunakwenzeka ngenene. Kodwa, ngolwazi esinalo ngeli xesha, ukufezekisa le njongo, sikholelwa ukuba kuya kuba yimfuneko ukuqhubeka nokwandisa kakhulu iingcebiso zomdla kwiintlanganiso ezizayo kwaye, xa sifikelelwe, siya kuhlala sigcina eso "terminal". "inqanaba ixeshana. Esona sigidimi sibalulekileyo sesokuba asikafiki esiphelweni okwangoku. - Ngaba kukho isoyikiso sokungahlawuli ebhankini? -Kucacile ukuba ukunyuka kwexabiso lenzala kwandisa iindleko zenkxaso-mali kwiivenkile kunye neenkampani, kunye nokunciphisa ingeniso yabo kunye nokuwa kwengeniso yangempela ngenxa yokunyuka kwamaxabiso, kunciphisa amandla abo okuhlawula. Kulungile ke, ubukhulu bempembelelo buya kuxhomekeka kubunzulu bokudodobala koqoqosho, ukuqhubeka kokunyuka kwamaxabiso kunye nesixa esifunekayo ukuxhasa umgaqo-nkqubo wezemali, phakathi kwezinye izinto. Ngokombono wozinzo lwezemali, umyalezo ofanelekileyo ngowokuba uvavanyo loxinzelelo esiluqhuba rhoqo lubonisa ukuba i-aggregate solvency yecandelo lebhanki iya kuhlala ikwinqanaba elaneleyo xa sijongana neemeko ezimbi, kunye ne-heterogeneity phakathi. amaqumrhu. Masingalibali ukuba esi sikhundla sokumelana sityala into entle ekuphunyezweni kohlaziyo lolawulo kwinqanaba lehlabathi kwaye, kwimeko yaseSpain, kuhlengahlengiso lweminyaka elishumi edlulileyo. -Ngaba bekungayi kuba sengqiqweni ukuba iibhanki zihlawule iidipozithi kwakhona? – Siyaqaphela ukuba ukuhlawulwa kweedipozithi kuye kwanda kancinci kwaye ukugqithiswa kokunyuka kwamaxabiso emalike yemali kwiindleko zekhaya kunye namatyala oshishino kuhamba kancinane kuneziqendu ezidlulileyo zokunyuka. Eyokuqala iya kunxulunyaniswa nento yokuba ekuqaleni saqala kumazinga angalunganga, ubukhulu becala, azange atshintshelwe kwiidiphozithi, kunye nokungabinamali okwaneleyo kunye nomlinganiselo ophezulu weediphozithi kwityala kwinkqubo yebhanki. Kodwa silindele ukuguquguquka okukhulu ngakumbi kwiindleko zetyala kunye neediphozithi. Ngeli xesha, abongi sele besebenzisa ezinye izixhobo ukuphucula inzuzo yokonga kwabo. -Ukusuka kumgaqo-nkqubo wemali ukuya kwirhafu. Ngoku sineerhafu ezintathu ezintsha. Kumathamsanqa, ebhankini, nakwabo badlamkileyo, banaliphi ifuthe eSpain? -Asikabi nalo uvavanyo lwefuthe layo. Kuzo zonke iimeko, into endifuna ukuyigxininisa malunga nenkqubo yerhafu kukuba ndikholelwa ukuba kukho ukuvumelana okubanzi malunga nesidingo sokuphononongwa okubanzi kwayo ukuphucula umthamo wayo wokuqokelela kunye nokusebenza kwayo. Kananjalo ikhatshwa luphononongo olubanzi lwenkcitho yoluntu. Oku kuphonononga eyona nxalenye ingundoqo yenkqubo yokumanyaniswa kwezimali endibhekisele kuyo ngaphambili. Ukuthelekisa namanye amazwe angabamelwane kunokusebenza njengesikhokelo. Kwaye olu thelekiso lubonisa ukuba iSpain iqokelela ngokomyinge ongaphantsi kunamanye amazwe. Xa sihlalutya ukuba kutheni siqokelela ngaphantsi, akukhona kakhulu ngenxa yemilinganiselo ephantsi ye-marginal kodwa kunokuba ngenxa yesiphumo sokutsalwa, iibhonasi, njl., eziphela zibangela ukuba i-avareji esebenzayo ibe ngaphantsi. Kwaye, malunga nokubunjwa, iSpain iqokelela ngaphantsi, ngaphezulu, kwirhafu yokusetyenziswa kunye nerhafu yendalo. Olu xilongo lunokuba sisiqalo esihle sohlaziyo. Ukubandakanya, ngokuqinisekileyo, iinqobo zokwabiwa kwakhona ezithathwa njengezaneleyo. Okokugqibela, kubaluleke kakhulu ukukhumbula ukuba, xa kujongwe inqanaba eliphezulu lokudityaniswa koqoqosho lwethu namazwe ngamazwe, umthamo wokuqokelelwa kwamanani erhafu ubekwe kakhulu liqondo lolungelelwaniso lwemali kumlinganiselo wamazwe ngamazwe. Yingakho izivumelwano zerhafu zamazwe ngamazwe ezifikelelwe kwi-OECD / G-20 kunye nakwi-EU kwimeko yerhafu yenkampani kunye nerhafu kwimisebenzi yedijithali ibaluleke kakhulu.
