Kommt in Italien die Parallelwährung?

Die Idee der Ein­führung von Par­al­lel­wäh­rungen zur Lösung der Euro­krise ist nicht neu.

(Von Dr. Daniel Stelter — Aus seinem Blog bto - www.think-beyondtheobvious.com)

Nun scheint die Idee in Italien kon­kreter zu werden. Ich finde es gut und denke, am Ende werden wir wieder nationale Wäh­rungen haben. Implosion. Hier der Stand der Dinge bei unseren ita­lie­ni­schen Freunden:

• „The Italian eco­nomic system is working far below its potential: this gap has been created first by the global financial crisis of 2008 and then by the austerity policies ‚pre­scribed‘ by the EU in 2011.“ – bto: wie Leser meiner Seiten wissen. Italien erlebt eine Krise, schlimmer, als in den 1930er-Jahren!
• „Italy can solve this problem by intro­ducing an ade­quate quantity of purchasing power in its eco­nomic system. It can’t do it by issuing euros, nor (due to the mecha­nisms of the Eurozone) by incre­asing the state deficits.“ – bto: Es geht aber nicht nur um mehr Nach­frage, sondern auch um einen Weg, um die erfor­der­liche interne Abwertung der Währung zu rea­li­sieren. Das taucht in den wei­teren Gedanken nicht auf, wäre aber aus meiner Sicht wichtig. 
• „The intro­duction of a fiscal cur­rency might help to bypass the cons­traint that Rome cannot print money and maintain the impression that the euro works.„– bto: Naja, die Iren haben ja auch Euro gedruckt. Ich denke, einen ähn­lichen Trick könnte Italien auch machen. (Zur Erin­nerung: Die Iren haben ihre Bad Bank einfach plei­te­gehen lassen und sich danach das Geld zur Ent­schä­digung der Gläu­biger der iri­schen Natio­nalbank über Anleihen besorgt, die die irische Natio­nalbank gekauft hat.)
• „(…) it is a par­ti­cular government bond that has a value given to it by the state, even if it does not enjoy the status of a legal tender. In other words, the state binds itself to accept it, e.g. for the payment of taxes or govern­mental ser­vices, while business and citizens are free to use it or not.” – bto: Und sie werden es nutzen zum Bezahlen (und Euro zum Sparen!).
• „Since the state agrees to accept it but not to redeem it, it can’t default on its obli­gation. Such a bond is equi­valent to a sove­reign cur­rency.“– bto: Und genau darum geht es. Es wird (noch mehr!) Geld geschaffen.
• „Forza Italia (Berlusconi’s party), pro­poses Fiscal Credit Cer­ti­fi­cates (CCF). (…) The state emits CCFs witch gives the right to a reduction in the payment of taxation (or any other financial tran­saction with the public sector) two years after their emission. CCFs are dis­tri­buted in dif­ferent ways: To workers to increase their income, as some reverse tax; To busi­nesses to reduce the weight of taxation on income; To low-income groups as a form of social spending; as an addition to what they already get in euros.“ – bto: viele gute Zwecke, die wir auch von der Voll­geldidee kennen. 
• „CCFs are offi­cially not government debt and do not add to the total amount of Italian public debt. The Italian government will accept the CCFs two years after issuance, in the meantime they can be used as a par­allel cur­rency. (…) During the two years that they are in cir­cu­lation, the CCFs will function as legal tender, and the Italian government can increase its spending by paying its expen­ditures partly in CCFs, and without incre­asing the national debt.“ – bto: Hm, irgendwie sind es schon Staats­schulden. Sie sind nur aus sich selbst heraus bedienbar. Aber eine Last sind sie, sinken doch die Ein­nahmen in Euro. 
• „Movi­mento 5 Stelle (the movement started by comedian Beppe Grillo) (…) envi­sages digital fiscal money in the form of elec­tronic cards dis­tri­buted among the public. Units of value can be used for the purchase of goods and ser­vices in the private sector. Unlike the other ver­sions of ‚fiscal money‘, this one would not require the 2 years delay after the emission. The use to pay taxes will be pos­sible in install­ments, say 20 % per year starting from the beginning.Hm, irgendwie sind es schon Staats­schulden. Sie sind nur aus sich selbst heraus bedienbar. Aber eine Last sind sie, sinken doch die Ein­nahmen in Euro.“ – bto: Das ist aber inhaltlich das­selbe. Und darum geht es hier ja. 
• „Lega Nord and in par­ti­cular Claudio Borghi, respon­sible for eco­nomic policies, propose the emission of ‚Minibots‘, or CCFs that would cir­culate in the form of paper with the same size as the euro bank­notes. Minibots would be issued to busi­nesses or indi­vi­duals who have the right to a fiscal deduction. Instead of a tax deduction, the company or person receive an equal amount of ‚Minibots‘, Minibots could be used imme­diately to pay taxes or as a form of payment for ser­vices by state enter­prises.“ – bto: also in der Tat eine Form von Helikoptergeld.
• „Fiscal money is an instrument mana­geable by the national government to boost both internal demand and increase the com­pe­ti­ti­veness of Italian busi­nesses by lowering the taxation. It restores in the euro-system the fle­xi­bility necessary to correct its dys­func­tions, without neces­s­arily breaking it.“ – bto: was inhaltlich stimmt. Die Euro-Steu­er­ein­nahmen sinken zwar, dafür gibt es mehr Nichteuro-Ausgaben. 
• „The fiscal money idea is not in con­flict with any existing EU legis­lation.It is not a cur­rency as the law does not force its accep­tance. The­r­efore it does not violate the prin­ciple of monetary monopoly of the ECB when it comes to emitting legal tender, the euro. It is not public debt. Eurostat rules clarify without ambi­guity that it is not debt as long as the public sector is not forced to make pay­ments in it.Fiscal money is a non-payable tax credit: it does not create a right to be paid but a right to reduce the tax pay­ments due.“ – bto: Damit beein­flusst es die Euro­ein­nahmen, was aber neben­sächlich ist. Die Kernidee ist richtig. 
• „Natu­rally, the exis­tence of fiscal money can con­stitute a first step for a state to leave the euro system if at a certain point the fiscal money is declared legal tender instead of the euro. The Emission of fiscal cur­rency comes with a risk: it could be the end of the euro. However, the real risks of the end of the euro result from the design flaws of the Eurozone and are not created by the emission of fiscal money.The Eurozone pro­blems already exist and will con­tinue until the ongoing dys­func­tions are fixed, dys­func­tions that the fiscal money helps to overcome.“ – bto: Das sehe ich genauso. Es ist der Ein­stieg in den Aus­stieg und es funktioniert. 

→ GEFIRA: „Italy’s par­allel fiscal cur­rency: all you need to know“, 14. Oktober 2017

Auch bei bto war das schon Thema:

 → Die Suche nach der Lösung: Plan „C“ für den Euro?

→ Wege aus der Eurofalle