A afirmação de Passos Coelho parece mais de um economista (ver mais abaixo) do que de um primeiro-ministro. Mas este é o reflexo do plano de ajustamento que está a ser posto em curso e nisso Passos Coelho merece crédito pela frontalidade.
Sobre a forma como a corrente dominante vê o ajustamento futuro, vale a pena ler o que escreveram há uns dias Peter Boon e Simon Johnson (ex-economista-chefe do FMI), numa critica à ideia de que tudo na crise europeia se resolveria com mais dinheiro (o destaque é meu):
Europe’s periphery also needs to recognize that it signed up to a currency union, and that requires a new approach to adjustment. Instead of having massive devaluations like Zedillo’s Mexico, or Suharto’s Indonesia and Walesa’s Poland, Europe’s troubled nations need to improve competitiveness through reducing local costs. That must primarily come through wage reductions and more competitive tax systems. In Ireland a pact with the major unions is preventing further wage reductions, while in Greece the government is strangling corporations with taxes in order to avoid deeper wage and spending cuts. The proposed Portuguese “fiscal devaluation” – meaning lower payroll taxes to reduce labor costs and increase VAT to replace the revenue – looks like a weak attempt to avoid talking about the need to much more sharply cut public spending and wages in real, purchasing power terms.
Putting in place a huge financial package is not enough. Policies have to adjust across the troubled eurozone countries so that nations stop accumulating debt, and the periphery moves rapidly from being least competitive nations in the euro area, to the most competitive and this includes lower real wages, even if debts are restructured appropriately. The European leadership is a long way from even recognizing this reality – let alone talking about it in public.