{"id":7306,"date":"2011-11-01T10:53:40","date_gmt":"2011-11-01T07:53:40","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=7306"},"modified":"2011-11-01T10:53:49","modified_gmt":"2011-11-01T07:53:49","slug":"euro%e2%80%99yu-kurtarma-paketi","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/euro%e2%80%99yu-kurtarma-paketi\/","title":{"rendered":"Euro\u2019yu Kurtarma Paketi"},"content":{"rendered":"<p>Ge\u00e7en hafta Londra\u2019da yararl\u0131 bir konferansa kat\u0131ld\u0131m. Konusu: T\u00fcrkiye\u2019nin 1980 sonras\u0131 neoliberal politikalar deneyimi. D\u00fczenleyen: LSE\u2019nin \u00c7a\u011fda\u015f T\u00fcrkiye Ara\u015ft\u0131rmalar\u0131 k\u00fcrs\u00fcs\u00fc ve New Perspective on Turkey dergisi.<\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-2730451326\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"9580705384\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Per\u015fembe ak\u015fam a\u00e7\u0131l\u0131\u015f\u0131 LSE\u2019nin tarihi salonunda (Old Theater) k\u00fcrs\u00fc ba\u015fkan\u0131 \u015eevket Pamuk y\u00f6netti. ODT\u00dc\u2019den Fikret \u015eenses ve ben iki farkl\u0131 a\u00e7\u0131dan bakt\u0131k. Cuma tam g\u00fcn devam etti. Kadro zengindi: Dani Rodrik, \u0130zak Atiyas, \u00c7a\u011flar Keyder vs.<\/p>\n<p>O arada sevgili dostum Sedat K\u00e2hya ile bulu\u015ftuk. 1968\u2019in sava\u015f kar\u015f\u0131t\u0131 g\u00f6sterilerinde beraber y\u00fcr\u00fcm\u00fc\u015ft\u00fck. O g\u00fcnlerin an\u0131s\u0131na St. Paul katedraline gittik. Do\u011frusu \u201cLondra\u2019y\u0131 \u0130\u015fgal Et\u201d hareketi s\u00f6n\u00fck geldi. Nerede eski muhalefetler!<\/p>\n<p>Bir g\u00f6zlem: \u0130ngiliz gazetelerinde hi\u00e7 in\u015faat ve gayrimenkul ilan\u0131 yok. Tefsirini size b\u0131rak\u0131yorum. Bir \u00f6z\u00fcr: Pazar yaz\u0131m\u0131 yollayamad\u0131m. Otelde bilgisayar\u0131 \u015farj i\u00e7in fi\u015fe takmak yetmedi. D\u00fc\u011fmesi de varm\u0131\u015f. Trafi\u011fi ters y\u00f6nden ak\u0131tan milletten ne beklenir?<\/p>\n<p><strong>\u0130flas ve likidite s\u0131k\u0131\u015f\u0131kl\u0131\u011f\u0131<\/strong><\/p>\n<p>Euro b\u00f6lgesi kurtarma paketinin genel hatlar\u0131 belli oldu. Ayr\u0131nt\u0131lar\u0131 medyada g\u00f6rd\u00fcn\u00fcz. Yunanistan\u2019\u0131n \u00f6zel kesime borcunun yar\u0131s\u0131 (g\u00f6n\u00fcll\u00fc!) siliniyor. 100 milyar euro tahmin ediliyor. Bankalara o kadar sermaye konuyor.<\/p>\n<p>Bu k\u0131sm\u0131 asl\u0131nda basitti. \u00c7ok yaz\u0131ld\u0131 \u00e7izildi. Yunanistan\u2019\u0131n borcunu \u00f6deme ihtimali yoktu. Durumu tescil edildi. Zarar\u0131n nas\u0131l payla\u015f\u0131laca\u011f\u0131 karar\u0131 \u00e7\u0131kt\u0131. Bence Almanya\u2019n\u0131n dedi\u011fi oldu.<\/p>\n<p>Sonras\u0131 ise \u00e7ok kar\u0131\u015f\u0131kt\u0131r. Biraz a\u00e7mak istiyorum. Krizi Yunanistan\u2019\u0131n tetikledi\u011fi do\u011frudur. Ancak k\u00fc\u00e7\u00fck Yunanistan\u2019\u0131n zarar\u0131n\u0131 hazmetmek kolayd\u0131. Fakat \u00e7\u00f6z\u00fcm gecikti. Mali piyasan\u0131n tedirginli\u011fi b\u00fcy\u00fck \u00fclkelere bula\u015ft\u0131. Sorun i\u00e7erik de\u011fi\u015ftirdi.<\/p><div class=\"bilge-content-1\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-3987278485\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"3167340272\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Kritik olan \u0130talya\u2019d\u0131r. Kamu borcu y\u00fcksek ama \u0130talya m\u00fcflis de\u011fil. \u00c7\u00fcnk\u00fc b\u00fct\u00e7esi faiz d\u0131\u015f\u0131 fazla veriyor. Yani d\u00fc\u015f\u00fck faizde borcunu \u00e7eviriyor. Dengeyi faizin y\u00fckselmesi bozuyor. Literat\u00fcrde de yeri var. \u0130flas (insolvency) ve likidite s\u0131k\u0131\u015f\u0131kl\u0131\u011f\u0131 ayr\u0131m\u0131 yap\u0131l\u0131yor.<\/p>\n<p>Likidite sorunu Merkez Bankas\u0131\u2019n\u0131n bizzat varl\u0131k nedenidir. Mali piyasa kuruyunca paray\u0131 bas\u0131p Hazine\u2019ye veriyor. B\u00f6ylece faiz-bor\u00e7 sarmal\u0131n\u0131 engelliyor. Mali piyasa tekrar a\u00e7\u0131ld\u0131\u011f\u0131nda paras\u0131n\u0131 geri al\u0131yor.<\/p>\n<p><strong>Yapay \u00e7\u00f6z\u00fcmler<\/strong><\/p>\n<p>Euro b\u00f6lgesinde i\u015fler tam burada kar\u0131\u015f\u0131yor. Avrupa Merkez Bankas\u0131\u2019n\u0131n bu g\u00f6revi \u00fcstlenmesini Almanya istemiyor. Nedeni hakk\u0131nda rivayetler muhtelif. \u0130talya\u2019n\u0131n da m\u00fcsrifli\u011finin cezas\u0131n\u0131 \u00e7ekmesi arzusu olabilir.<\/p><div class=\"bilge-content-2\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-1908443721\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"1818807385\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Geriye \u015f\u00f6yle bir yapay \u00e7\u00f6z\u00fcm kal\u0131yor. B\u00f6lge \u00fclkeleri ve IMF 440 milyar euro koyup fon kuruyor. Bu fon piyasadan ayn\u0131 miktarda bor\u00e7lan\u0131yor. \u0130talya (\u0130spanya vs.) gere\u011finde bu kayna\u011f\u0131 kullan\u0131yor. Kula\u011f\u0131n\u0131 ters taraftan g\u00f6sterme muadilidir.<\/p>\n<p>En belirgin zafiyetine de\u011finelim. Fona kim bor\u00e7 verir? \u00c7in, diye ye\u015feren umutlar \u00e7abuk s\u00f6nd\u00fc. Hak veriyorum. Fona bor\u00e7 vermenin riski yoksa, neden b\u00f6lge \u00fclkeleri t\u00fcm\u00fcn\u00fc kar\u015f\u0131lam\u0131yor. Varsa \u00c7in bu riski neden als\u0131n?<\/p>\n<p>New York Times\u2019ta Paul Krugman\u2019\u0131n harika bir yaz\u0131s\u0131 \u00e7\u0131kt\u0131. Sabah Gazetesi Pazar ekinde yay\u0131nland\u0131: \u201cAvrupa\u2019n\u0131n Kovas\u0131nda Delik Var\u201d. \u00d6\u011fretici ve e\u011flenceli; okuman\u0131z\u0131 tavsiye ederim.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ge\u00e7en hafta Londra\u2019da yararl\u0131 bir konferansa kat\u0131ld\u0131m. Konusu: T\u00fcrkiye\u2019nin 1980 sonras\u0131 neoliberal politikalar deneyimi. D\u00fczenleyen: LSE\u2019nin \u00c7a\u011fda\u015f T\u00fcrkiye Ara\u015ft\u0131rmalar\u0131 k\u00fcrs\u00fcs\u00fc ve New Perspective on Turkey&hellip;<\/p>\n","protected":false},"author":13,"featured_media":919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tumyazilar"],"_links":{"self":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/7306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=7306"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/7306\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media\/919"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=7306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=7306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=7306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}