{"id":759135,"date":"2025-09-06T09:00:40","date_gmt":"2025-09-06T07:00:40","guid":{"rendered":"https:\/\/www.hashtag.al\/?p=759135"},"modified":"2025-09-06T09:00:56","modified_gmt":"2025-09-06T07:00:56","slug":"a-mund-te-shkaktojne-trazirat-ekonomike-te-frances-krizen-e-borxhit-te-eurozones","status":"publish","type":"post","link":"https:\/\/www.hashtag.al\/index.php\/2025\/09\/06\/a-mund-te-shkaktojne-trazirat-ekonomike-te-frances-krizen-e-borxhit-te-eurozones\/","title":{"rendered":"A mund t\u00eb shkaktojn\u00eb trazirat ekonomike t\u00eb Franc\u00ebs kriz\u00ebn e borxhit t\u00eb eurozon\u00ebs?","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"

\"\"<\/span><\/span><\/p>\n

Pak veta dyshojn\u00eb se kryeministri Francois Bayrou do ta humbas\u00eb vot\u00ebbesimin n\u00eb parlamentin francez t\u00eb planifikuar p\u00ebr t\u00eb h\u00ebn\u00ebn (8 shtator), pasi qeveris\u00eb aktuale franceze i mungon shumica e nevojshme p\u00ebr t\u00eb \u00e7uar p\u00ebrpara\u00a0<\/span>planet e tij t\u00eb shkurtimit t\u00eb buxhetit<\/span>\u00a0q\u00eb synojn\u00eb frenimin e borxhit publik\u00a0<\/span>t\u00eb Franc\u00ebs<\/span>\u00a0.<\/span><\/span><\/p>\n

\u00c7far\u00eb do t\u00eb ndodh\u00eb m\u00eb pas \u00ebsht\u00eb e pasigurt. N\u00ebse do t\u00eb thirren zgjedhje t\u00eb reja, si\u00e7 k\u00ebrkohet nga\u00a0<\/span>Rassemblement National i ekstremit t\u00eb djatht\u00eb<\/span>\u00a0, apo n\u00ebse\u00a0<\/span>Presidenti Emmanuel Macron<\/span>\u00a0arrin t\u00eb krijoj\u00eb nj\u00eb qeveri tjet\u00ebr minoritare, \u00ebsht\u00eb ana politike e kriz\u00ebs.<\/span><\/span><\/p>\n

Ekonomikisht, b\u00ebhet fjal\u00eb p\u00ebr para dhe barr\u00ebn e madhe t\u00eb borxhit t\u00eb Franc\u00ebs. N\u00eb terma absolut\u00eb, asnj\u00eb vend i BE-s\u00eb nuk ka borxh komb\u00ebtar m\u00eb t\u00eb konsoliduar se Franca. Borxhi sovran \u00ebsht\u00eb rritur n\u00eb rreth 3.35 trilion\u00eb euro (3.9 trilion\u00eb dollar\u00eb) – rreth 113% e produktit t\u00eb brendsh\u00ebm bruto (PBB), me shifr\u00ebn q\u00eb pritet t\u00eb rritet m\u00eb tej n\u00eb 125% deri n\u00eb vitin 2030.<\/span><\/p>\n

Mbreti i borxhit t\u00eb Evrop\u00ebs<\/span><\/strong><\/span><\/p>\n

Raporti i borxhit ndaj PBB-s\u00eb s\u00eb Franc\u00ebs \u00ebsht\u00eb aq i lart\u00eb sa vet\u00ebm Greqia dhe Italia e tejkalojn\u00eb at\u00eb brenda\u00a0<\/span>Bashkimit Evropian<\/span>\u00a0. Me nj\u00eb deficit buxhetor prej 5.4% deri n\u00eb 5.8% k\u00ebt\u00eb vit, Parisi ka gjithashtu deficitin m\u00eb t\u00eb madh buxhetor n\u00eb BE-n\u00eb me 27 vende.<\/span><\/span><\/p>\n

P\u00ebr t\u00eb p\u00ebrmbushur objektivin e BE-s\u00eb p\u00ebr uljen e deficitit n\u00eb 3%, kursimet drastike jan\u00eb t\u00eb pashmangshme.<\/span><\/p>\n

Megjithat\u00eb, meqen\u00ebse shkurtimet jan\u00eb aktualisht t\u00eb paq\u00ebndrueshme politikisht, tregjet financiare kan\u00eb reaguar me prime m\u00eb t\u00eb larta rreziku p\u00ebr obligacionet franceze. Nd\u00ebrsa obligacionet gjermane kan\u00eb nj\u00eb norm\u00eb interesi prej rreth 2.7%, qeveria franceze duhet t\u00eb paguaj\u00eb af\u00ebr 3.5% interes p\u00ebr borxhin e saj.<\/span><\/p>\n

Pra, a duhet t\u00eb shqet\u00ebsohemi p\u00ebr stabilitetin e monedh\u00ebs s\u00eb vetme evropiane, euros, n\u00ebse financat e ekonomis\u00eb s\u00eb dyt\u00eb m\u00eb t\u00eb madhe t\u00eb eurozon\u00ebs dalin jasht\u00eb kontrollit?<\/span><\/p>\n

“Po, duhet t\u00eb shqet\u00ebsohemi. Eurozona nuk \u00ebsht\u00eb e q\u00ebndrueshme n\u00eb k\u00ebt\u00eb pik\u00eb”, thot\u00eb Friedrich Heinemann, nj\u00eb ekonomist n\u00eb Qendr\u00ebn ZEW Leibniz p\u00ebr K\u00ebrkime Ekonomike Evropiane n\u00eb Mannheim t\u00eb Gjermanis\u00eb, edhe pse ai “nuk \u00ebsht\u00eb i shqet\u00ebsuar” p\u00ebr nj\u00eb kriz\u00eb t\u00eb re afatshkurt\u00ebr t\u00eb borxhit n\u00eb muajt e ardhsh\u00ebm.<\/span><\/p>\n

“Por duhet t\u00eb pyesim veten se ku po shkon kjo n\u00ebse nj\u00eb vend i madh si Franca, i cili ka par\u00eb nj\u00eb raport borxhi n\u00eb rritje t\u00eb vazhdueshme vitet e fundit, tani p\u00ebrballet edhe me destabilizim t\u00eb m\u00ebtejsh\u00ebm politik”, i tha ai DW.<\/strong><\/span><\/a><\/span><\/p>\n

Ekonomi t\u00eb tjera t\u00eb m\u00ebdha po grumbullojn\u00eb gjithashtu borxhe historikisht t\u00eb larta dhe duhet t\u00eb mbledhin miliarda n\u00eb tregjet e kapitalit. K\u00ebt\u00eb vjesht\u00eb, p\u00ebr shembull, Gjermania, Japonia dhe SHBA-ja do t\u00eb duhet t\u00eb emetojn\u00eb obligacione t\u00eb reja qeveritare p\u00ebr t\u00eb financuar shpenzimet e tyre – nj\u00eb arsye kryesore pse tregjet globale t\u00eb obligacioneve mbeten n\u00ebn presion.<\/span><\/p>\n

E vetmja arsye pse tregjet nuk jan\u00eb edhe m\u00eb nervoze \u2014 q\u00eb do t\u00eb thot\u00eb se diferencat n\u00eb obligacionet franceze nuk po rriten m\u00eb tej \u2014 \u00ebsht\u00eb shpresa se Banka Qendrore Evropiane do t\u00eb nd\u00ebrhyj\u00eb dhe do t\u00eb blej\u00eb obligacione franceze p\u00ebr t\u00eb stabilizuar tregun, mendon Heinemann. “Por kjo shpres\u00eb mund t\u00eb jet\u00eb e gabuar, sepse BQE duhet t\u00eb jet\u00eb e kujdesshme q\u00eb t\u00eb mos d\u00ebmtoj\u00eb besueshm\u00ebrin\u00eb e saj.”<\/span><\/p>\n

Ka qen\u00eb nj\u00eb dilem\u00eb politike prej koh\u00ebsh p\u00ebr qeverit\u00eb e nj\u00ebpasnj\u00ebshme franceze q\u00eb sa her\u00eb q\u00eb propozojn\u00eb masa shtr\u00ebnguese ose reforma ekonomike, partit\u00eb si t\u00eb majta ashtu edhe t\u00eb djathta ankohen dhe mobilizojn\u00eb mb\u00ebshtet\u00ebsit e tyre.<\/span><\/p>\n

Sindikatat kan\u00eb thirrur tashm\u00eb nj\u00eb grev\u00eb t\u00eb p\u00ebrgjithshme p\u00ebr 10 shtator, dy dit\u00eb pas votimit t\u00eb besimit.<\/span><\/p>\n

Komisioni i BE-s\u00eb dhe BQE n\u00ebn presion<\/span><\/strong><\/span><\/p>\n

Franca tani shpenzon 67 miliard\u00eb euro n\u00eb vit vet\u00ebm p\u00ebr pagesat e interesit. Dhe \u00ebsht\u00eb n\u00ebn presion sepse \u00ebsht\u00eb zotuar t\u00eb zvog\u00ebloj\u00eb gradualisht deficitin e saj n\u00eb p\u00ebrputhje me rregullat e BE-s\u00eb.<\/span><\/p>\n

Por Heinemann gjithashtu ia hedh nj\u00eb pjes\u00eb t\u00eb fajit edhe hapave t\u00eb\u00a0<\/span>Komisionit t\u00eb BE-s\u00eb,<\/span>\u00a0sepse ai “ka ndihmuar n\u00eb krijimin e k\u00ebsaj rr\u00ebmuje”.<\/span><\/span><\/p>\n

“Vazhdoi t\u00eb mbyllte nj\u00ebrin sy, madje t\u00eb dy syt\u00eb, kur b\u00ebhej fjal\u00eb p\u00ebr Franc\u00ebn. Ato ishin kompromise politike t\u00eb nxitura nga frika e forcimit t\u00eb populist\u00ebve”, tha ai, duke shtuar se “Franca tashm\u00eb ka p\u00ebrdorur pjes\u00ebn m\u00eb t\u00eb madhe t\u00eb hap\u00ebsir\u00ebs s\u00eb saj fiskale. Gjermania \u00ebsht\u00eb n\u00eb nj\u00eb pozicion shum\u00eb m\u00eb t\u00eb mir\u00eb, me shum\u00eb hap\u00ebsir\u00eb \u200b\u200bp\u00ebr t\u00eb manovruar”.<\/span><\/p>\n

Reformat e bllokuara<\/span><\/strong><\/span><\/p>\n

Sipas Heinemann, Franca, ashtu si Gjermania, ka nevoj\u00eb urgjente p\u00ebr reforma t\u00eb m\u00ebdha n\u00eb mir\u00ebqenie dhe shkurtime shpenzimesh. Alternativa do t\u00eb ishte rritja e taksave n\u00eb nj\u00eb vend q\u00eb tashm\u00eb vendos barr\u00eb t\u00eb r\u00ebnda tatimore si mbi qytetar\u00ebt ashtu edhe mbi bizneset.<\/span><\/p>\n

Prandaj, Heinemann \u00ebsht\u00eb skeptik se politika franceze mund t\u00eb sjell\u00eb nj\u00eb konsensus nd\u00ebrpartiak p\u00ebr uljen e borxhit. “Me populist\u00ebt si n\u00eb t\u00eb majt\u00eb ashtu edhe n\u00eb t\u00eb djatht\u00eb q\u00eb po fitojn\u00eb terren, nuk e shoh q\u00eb kjo t\u00eb ndodh\u00eb. Qendra po tkurret. Kjo \u00ebsht\u00eb arsyeja pse jam pesimist p\u00ebr Franc\u00ebn dhe nuk shoh nj\u00eb zgjidhje.”<\/span><\/p>\n

P\u00ebr Andrew Kenningham, kryeekonomist evropian n\u00eb Capital Economics me seli n\u00eb Lond\u00ebr, rreziqet p\u00ebr tregjet e tjera evropiane mbeten t\u00eb menaxhueshme p\u00ebr momentin.<\/span><\/p>\n

“Deri m\u00eb tani, problemet duket se jan\u00eb kryesisht t\u00eb kufizuara n\u00eb vet\u00eb Franc\u00ebn, p\u00ebr sa koh\u00eb q\u00eb shkalla e \u00e7\u00ebshtjes franceze nuk rritet shum\u00eb”, tha ai n\u00eb nj\u00eb sh\u00ebnim p\u00ebr klient\u00ebt.<\/span><\/p>\n

Por ai paralajm\u00ebroi p\u00ebr skenar\u00eb ku kriza e Franc\u00ebs mund t\u00eb p\u00ebrshkall\u00ebzohet ndjesh\u00ebm, duke rritur rrezikun e p\u00ebrhapjes s\u00eb s\u00ebmundjes.<\/span><\/p>\n

“N\u00eb fund t\u00eb fundit, Franca \u00ebsht\u00eb ekonomia e dyt\u00eb m\u00eb e madhe e eurozon\u00ebs, me lidhje t\u00eb thella tregtare dhe financiare me fqinj\u00ebt e saj, dhe \u00ebsht\u00eb gjithashtu nj\u00eb fuqi kryesore politike e BE-s\u00eb”, vuri n\u00eb dukje Kenningham, duke th\u00ebn\u00eb se nj\u00eb kriz\u00eb n\u00eb Franc\u00eb mund ta vinte n\u00eb pik\u00ebpyetje vet\u00eb q\u00ebndrueshm\u00ebrin\u00eb e projektit evropian.<\/span><\/p>\n

“Nuk presim nj\u00eb kriz\u00eb t\u00eb asaj madh\u00ebsie n\u00eb nj\u00eb ose dy vitet e ardhshme. Por n\u00ebse do t\u00eb ndodhte, p\u00ebrhapja e saj mund t\u00eb b\u00ebhej nj\u00eb rrezik shum\u00eb m\u00eb i madh – nj\u00eb rrezik q\u00eb BQE-ja do t\u00eb duhej ta adresonte”, tha ai.<\/span><\/p>\n

Koh\u00eb e keqe p\u00ebr nj\u00eb kriz\u00eb politike<\/span><\/strong><\/span><\/p>\n

Trazirat n\u00eb Franc\u00eb vijn\u00eb n\u00eb nj\u00eb koh\u00eb kur BE-ja \u00ebsht\u00eb e bllokuar n\u00eb\u00a0<\/span>konflikt me Shtetet e Bashkuara<\/span>\u00a0mbi\u00a0<\/span>politik\u00ebn tregtare<\/span>\u00a0, duke p\u00ebrfshir\u00eb taksat m\u00eb t\u00eb larta mbi\u00a0\u00a0<\/span>gjigant\u00ebt e teknologjis\u00eb amerikane<\/span> t\u00eb propozuara nga Franca.<\/span><\/span><\/p>\n

\u00cbsht\u00eb momenti i pap\u00ebrshtatsh\u00ebm q\u00eb BE-ja t\u00eb duket e dob\u00ebsuar nga bllokimi politik n\u00eb ekonomin\u00eb e saj t\u00eb dyt\u00eb m\u00eb t\u00eb madhe.<\/span><\/p>\n

P\u00ebr Heinemann-in, shum\u00eb aktor\u00eb politik\u00eb n\u00eb Franc\u00eb jan\u00eb \u201ctrumpist\u00eb n\u00eb zem\u00ebr\u201d, ve\u00e7an\u00ebrisht n\u00eb t\u00eb majt\u00eb dhe t\u00eb djatht\u00eb t\u00eb spektrit politik.<\/span><\/p>\n

\u201cAta mund t\u00eb rrisin presionin mbi Komisionin Evropian p\u00ebr t\u2019u hakmarr\u00eb kund\u00ebr tarifave t\u00eb Trump me tarifa evropiane\u201d, paralajm\u00ebroi ekonomisti, gj\u00eb q\u00eb do t\u00eb \u201crriste rrezikun e nj\u00eb lufte t\u00eb v\u00ebrtet\u00eb tregtare\u201d dhe do ta p\u00ebrkeq\u00ebsonte edhe m\u00eb tej kriz\u00ebn e borxhit t\u00eb vendit.<\/span><\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"excerpt":{"rendered":"

Pak veta dyshojn\u00eb se kryeministri Francois Bayrou do ta humbas\u00eb vot\u00ebbesimin n\u00eb parlamentin francez t\u00eb planifikuar p\u00ebr t\u00eb h\u00ebn\u00ebn (8 shtator), pasi qeveris\u00eb aktuale franceze i mungon shumica e nevojshme p\u00ebr t\u00eb \u00e7uar p\u00ebrpara\u00a0planet e tij t\u00eb shkurtimit t\u00eb buxhetit\u00a0q\u00eb synojn\u00eb frenimin e borxhit publik\u00a0t\u00eb Franc\u00ebs\u00a0. \u00c7far\u00eb do t\u00eb ndodh\u00eb m\u00eb pas \u00ebsht\u00eb e pasigurt. […]<\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"author":49,"featured_media":759136,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-759135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nderkombetare"],"gt_translate_keys":[{"key":"link","format":"url"}],"_links":{"self":[{"href":"https:\/\/www.hashtag.al\/index.php\/wp-json\/wp\/v2\/posts\/759135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hashtag.al\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hashtag.al\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hashtag.al\/index.php\/wp-json\/wp\/v2\/users\/49"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hashtag.al\/index.php\/wp-json\/wp\/v2\/comments?post=759135"}],"version-history":[{"count":99999,"href":"https:\/\/www.hashtag.al\/index.php\/wp-json\/wp\/v2\/posts\/759135\/revisions"}],"predecessor-version":[{"id":759137,"href":"https:\/\/www.hashtag.al\/index.php\/wp-json\/wp\/v2\/posts\/759135\/revisions\/759137"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.hashtag.al\/index.php\/wp-json\/wp\/v2\/media\/759136"}],"wp:attachment":[{"href":"https:\/\/www.hashtag.al\/index.php\/wp-json\/wp\/v2\/media?parent=759135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hashtag.al\/index.php\/wp-json\/wp\/v2\/categories?post=759135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hashtag.al\/index.php\/wp-json\/wp\/v2\/tags?post=759135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}