{"id":140707,"date":"2026-07-07T10:35:16","date_gmt":"2026-07-07T10:35:16","guid":{"rendered":"https:\/\/www.europesays.com\/cz\/140707\/"},"modified":"2026-07-07T10:35:16","modified_gmt":"2026-07-07T10:35:16","slug":"evrope-hrozi-dlouhodobe-ekonomicke-skody-zachranny-fond-eurozony-varuje-pred-soubehem-krizi","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/cz\/140707\/","title":{"rendered":"Evrop\u011b hroz\u00ed dlouhodob\u00e9 ekonomick\u00e9 \u0161kody. Z\u00e1chrann\u00fd fond euroz\u00f3ny varuje p\u0159ed soub\u011bhem kriz\u00ed"},"content":{"rendered":"

Ekonomika euroz\u00f3ny je podle Evropsk\u00e9ho stabiliza\u010dn\u00edho mechanismu (ESM) odoln\u011bj\u0161\u00ed ne\u017e v\u00a0minulosti, jej\u00ed schopnost zvl\u00e1dat dal\u0161\u00ed krize v\u0161ak nelze pova\u017eovat za\u00a0samoz\u0159ejmost.<\/p>\n

Nov\u00e1 zpr\u00e1va instituce upozor\u0148uje<\/a>, \u017ee kombinace geopolitick\u00fdch a\u00a0finan\u010dn\u00edch ot\u0159es\u016f by mohla Evropu uvrhnout do\u00a0recese s\u00a0dlouhodob\u00fdmi n\u00e1sledky.<\/p>\n

Za\u00a0nejrizikov\u011bj\u0161\u00ed sc\u00e9n\u00e1\u0159 ESM ozna\u010duje op\u011btovnou eskalaci<\/a> konfliktu na Bl\u00edzk\u00e9m v\u00fdchod\u011b sou\u010dasn\u011b s prudk\u00fdm poklesem cen americk\u00fdch akci\u00ed a dluhopis\u016f.<\/p>\n

Takov\u00e1 kombinace by podle ekonom\u016f vedla ke\u00a0zpomalen\u00ed r\u016fstu, vy\u0161\u0161\u00edm rozpo\u010dtov\u00fdm deficit\u016fm i\u00a0dra\u017e\u0161\u00edmu financov\u00e1n\u00ed st\u00e1tn\u00edch dluh\u016f. P\u00ed\u0161e o\u00a0tom web Euractiv.<\/p>\n

\"Evropa<\/a> <\/p>\n

Model ESM ukazuje<\/a>, \u017ee podobn\u00fd v\u00fdvoj by mohl do\u00a0roku 2035 sn\u00ed\u017eit v\u00fdkon ekonomiky euroz\u00f3ny p\u0159ibli\u017en\u011b o\u00a0dv\u011b procenta. To odpov\u00edd\u00e1 zhruba velikosti cel\u00e9 finsk\u00e9 ekonomiky.<\/p>\n

Zpr\u00e1va p\u0159ich\u00e1z\u00ed v\u00a0dob\u011b, kdy s\u00edl\u00ed obavy z\u00a0rostouc\u00edho glob\u00e1ln\u00edho zadlu\u017een\u00ed, vysok\u00fdch valuac\u00ed na\u00a0americk\u00fdch trz\u00edch i\u00a0pokra\u010duj\u00edc\u00ed geopolitick\u00e9 nestability. Ekonomov\u00e9 z\u00e1rove\u0148 upozor\u0148uj\u00ed, \u017ee nejv\u011bt\u0161\u00ed nebezpe\u010d\u00ed nep\u0159edstavuj\u00ed jednotliv\u00e9 krize, ale jejich soub\u011bh.<\/p>\n

Hlavn\u00ed ekonom ESM Rolf Strauch uvedl<\/a>, \u017ee euroz\u00f3na\u00a0\u010del\u00ed \u201ebezprecedentn\u00edmu soub\u011bhu v\u00fdzev\u201c, kter\u00fd si vy\u017e\u00e1d\u00e1 obt\u00ed\u017en\u00e1 politick\u00e1 rozhodnut\u00ed.<\/p>\n

Podobn\u00fd v\u00fdvoj by mohl do roku 2035 sn\u00ed\u017eit v\u00fdkon ekonomiky euroz\u00f3ny p\u0159ibli\u017en\u011b o dv\u011b procenta. To odpov\u00edd\u00e1 zhruba velikosti cel\u00e9 finsk\u00e9 ekonomiky. <\/p>\n

Podle n\u011bj budou muset mnoh\u00e9 st\u00e1ty p\u0159istoupit k\u00a0d\u016fsledn\u011bj\u0161\u00ed rozpo\u010dtov\u00e9 konsolidaci, aby si udr\u017eely d\u016fv\u011bru finan\u010dn\u00edch trh\u016f.<\/p>\n

ESM z\u00e1rove\u0148 upozor\u0148uje<\/a> na rizika spojen\u00e1 s uvol\u0148ov\u00e1n\u00edm evropsk\u00fdch fisk\u00e1ln\u00edch pravidel. Evropsk\u00e1 komise v posledn\u00edch m\u011bs\u00edc\u00edch umo\u017enila \u010dlensk\u00fdm st\u00e1t\u016fm vy\u0161\u0161\u00ed v\u00fddaje kv\u016fli energetick\u00e9 krizi i posilov\u00e1n\u00ed obrany.<\/p>\n

Podle Straucha je v\u0161ak t\u0159eba db\u00e1t na\u00a0to, aby investo\u0159i\u00a0neza\u010dali vn\u00edmat zm\u011bny jako oslaben\u00ed fisk\u00e1ln\u00ed discipl\u00edny.<\/p>\n

Podle autor\u016f se\u00a0z\u00e1rove\u0148 zm\u011bnila samotn\u00e1 povaha evropsk\u00fdch rizik. Zat\u00edmco b\u011bhem dluhov\u00e9 krize v\u00a0minul\u00e9m desetilet\u00ed byla hlavn\u00edm probl\u00e9mem v\u00fd\u0161e ve\u0159ejn\u00e9ho dluhu jednotliv\u00fdch st\u00e1t\u016f, dnes hraj\u00ed mnohem v\u011bt\u0161\u00ed roli z\u00e1vislost na\u00a0dovozu energi\u00ed, otev\u0159enost sv\u011btov\u00e9mu obchodu a\u00a0geopolitick\u00e9 nap\u011bt\u00ed.<\/p>\n

Nejzraniteln\u011bj\u0161\u00ed jsou podle ESM men\u0161\u00ed otev\u0159en\u00e9 ekonomiky, jejich\u017e hospod\u00e1\u0159stv\u00ed je siln\u011b z\u00e1visl\u00e9 na\u00a0zahrani\u010dn\u00edm obchod\u011b a\u00a0dovozu strategick\u00fdch surovin. Pr\u00e1v\u011b ty mohou b\u00fdt v\u00a0p\u0159\u00edpad\u011b dal\u0161\u00edch glob\u00e1ln\u00edch ot\u0159es\u016f zasa\u017eeny nejrychleji.<\/p>\n

Evropa podle zpr\u00e1vy v\u00a0posledn\u00edch letech \u00fasp\u011b\u0161n\u011b p\u0159ekonala finan\u010dn\u00ed krizi, pandemii covidu i\u00a0energetick\u00fd \u0161ok po\u00a0rusk\u00e9 invazi na\u00a0Ukrajinu. Budouc\u00ed krize v\u0161ak mohou b\u00fdt slo\u017eit\u011bj\u0161\u00ed pr\u00e1v\u011b proto, \u017ee se\u00a0mohou odehr\u00e1vat sou\u010dasn\u011b a\u00a0vz\u00e1jemn\u011b se\u00a0posilovat.<\/p>\n

\"Majitel<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Ekonomika euroz\u00f3ny je podle Evropsk\u00e9ho stabiliza\u010dn\u00edho mechanismu (ESM) odoln\u011bj\u0161\u00ed ne\u017e v\u00a0minulosti, jej\u00ed schopnost zvl\u00e1dat dal\u0161\u00ed krize v\u0161ak nelze…\n","protected":false},"author":2,"featured_media":140708,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[3],"tags":[37196,37197,4495,37211,12286,19820,37209,37207,36225,3143,37195,32751,109,108,7968,106,10459,37198,249,25239,24676,25183,37208,37194,37206,1413,37201,24681,23392,20245,37212,37199,1080,37205,37210,15090,37203,37202,36584,19812,37200,37204,3644],"class_list":["post-140707","post","type-post","status-publish","format-standard","has-post-thumbnail","category-evropa","tag-americke-akcie","tag-americke-dluhopisy","tag-blizky-vychod","tag-dovoz-energii","tag-ekonomicka-krize","tag-ekonomicka-prognoza","tag-ekonomicke-riziko","tag-ekonomicke-vyhledy","tag-ekonomika-eu","tag-energeticka-krize","tag-esm","tag-euractiv","tag-europa","tag-europe","tag-eurozona","tag-evropa","tag-evropska-ekonomika","tag-evropska-ekonomika-2035","tag-evropska-komise","tag-evropske-finance","tag-evropske-hospodarstvi","tag-evropske-trhy","tag-evropsky-dluh","tag-evropsky-stabilizacni-mechanismus","tag-financni-stabilita","tag-financni-trhy","tag-fiskalni-pravidla-eu","tag-geopoliticka-nestabilita","tag-geopoliticke-riziko","tag-globalni-ekonomika","tag-hospodarske-dopady","tag-hospodarsky-rust","tag-investori","tag-obranne-vydaje","tag-otevrene-ekonomiky","tag-recese","tag-rolf-strauch","tag-rozpoctove-deficity","tag-strategicke-suroviny","tag-svetova-ekonomika","tag-verejny-dluh","tag-zadluzeni-statu","tag-zahranicni-obchod"],"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/140707","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/comments?post=140707"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/140707\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media\/140708"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media?parent=140707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/categories?post=140707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/tags?post=140707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}