British politics will never be the same again.<\/em>\u00bb <\/p>\n<\/p>\n\tLa deuxi\u00e8me partie du commentaire, apr\u00e8s que Richards aient expos\u00e9 les d\u00e9tails et les cons\u00e9quences de cette nationalisation sur la vie politicienne britannique, vaut effectivement citation. Elle nous sugg\u00e8re les cons\u00e9quences politiques<\/strong> fondamentales de l’\u00e9v\u00e9nement au Royaume-Uni (et, par voie de cons\u00e9quence, pour ceux qui brandissent le mod\u00e8le anglo-saxon comme exemplaire). Affirmer que ceux qui s’opposaient \u00e0 la nationalisation en brandissant le credo<\/em> lib\u00e9ral sont \u00ab[c]omme Brown, <\/em>[] prisonniers du pass\u00e9, incapables de voir ce qui se passe sous leurs yeux, que l’\u00e9poque du march\u00e9 pouvant se d\u00e9velopper sauvagement sans le moindre contr\u00f4le est en train de s’achever<\/em>\u00bb, voil\u00e0 qui est r\u00e9volutionnaire. Ces constats d’\u00e9vidence conduisent \u00e0 conclure que, pour le Royaume-Uni, l’heure est venue parce que les \u00e9v\u00e9nements l’imposent de mettre en cause l’imitation aveugle du syst\u00e8me am\u00e9ricaniste. Il n’y a pas de plus profonde imitation mim\u00e9tique des USA, chez les Britanniques, que dans le domaine financier. Pour cette raison, alors oui, sans aucun doute, la nationalisation de Northern Rock est un \u00e9v\u00e9nement historique.<\/p>\n<\/p>\n\t\u00abFor all these reasons the nationalisation will have at most a marginal impact on the next election. But the move was historic for other reasons well beyond parochial calculations about the next election. The nationalisation was no aberration, but part of a pattern of events. The bank collapsed following the credit squeeze in the United States, a crisis that made many lightly regulated financial institutions suddenly vulnerable.<\/em><\/p>\n<\/p>\n\t\u00bbThe combustible sequence turns on its head assumptions that have shaped British politics for at least two decades. For 18 years, the Conservative government looked to the economy of the United States for inspiration. New Labour did the same. Tony Blair and Gordon Brown liked to lecture other Europeans about the virtues of the Anglo-Saxon model, a lightly regulated market with a small state where a thousand flowers would bloom. In his budget speeches, Brown used to mock the growth rates in the Eurozone, but paid homage to the booming economy of the US and suggested Britain alone in Europe was in a similarly healthy position. No such homage will be made in the coming months.<\/em><\/p>\n<\/p>\n\t\u00bbBrown and Darling were part of a British consensus. Such was the political mood before the convulsions of the late summer that the Conservative MP John Redwood advocated an even lighter touch in the regulation of banks as one of many proposals in a report for his party. Some of Redwood’s proposals caused controversy, but not this one. The British debate revolved around whether banks should be freer still, a climate which explains but does not justify the complacency of the regulatory bodies in relation to the reckless activities of Northern Rock.<\/em><\/p>\n<\/p>\n\t\u00bbSuddenly, a different set of questions is being asked. Why were Northern Rock’s activities not regulated more intensively? Why did Brown not act earlier to nationalise the bank? How serious is the economic situation in the US? Is the British economy more vulnerable compared with its European counterparts because it functions in similar ways to the US? The US economy is no longer the obvious model for us to follow. The debate moves on to one in which tougher regulation is called for rather than less. Brown is criticised for failing to nationalise earlier rather than for not doing so at all.<\/em><\/p>\n<\/p>\n\t\u00abIn spite of themselves, political leaders are being forced to move on from the 1980s. This will be challenging for both New Labour and the Conservatives, who travel together with the old orthodoxy. As I wrote yesterday, the Shadow Chancellor, George Osborne, is in a minority of right-wingers in arguing that nationalisation was the worst option rather than the least bad. Like Brown, he is trapped by the past, unable to see what is happening in front of our eyes that an era of markets being allowed to run wildly out of control is coming to an end.<\/em>\u00bb<\/p>\n<\/p>\n<\/p>\n
\tMis en ligne le 20 f\u00e9vrier 2008 \u00e0 09H53<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"
La nationalisation de la banque Northern Rock par le gouvernement britannique cl\u00f4t le chapitre de la chute de cet \u00e9tablissement bancaire commenc\u00e9e en ao\u00fbt dernier. A c\u00f4t\u00e9 des observations techniques, des observations budg\u00e9taires pour ce qui concerne le gouvernement qui h\u00e9rite d’un passif consid\u00e9rable, des observations sur la gestion qui fait que cette banque qui… <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[7052,7031,3345,4706,7032,3344],"class_list":["post-69695","post","type-post","status-publish","format-standard","hentry","category-bloc-notes","tag-nationalisation","tag-northern","tag-relationships","tag-richards","tag-rock","tag-special"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/posts\/69695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/comments?post=69695"}],"version-history":[{"count":0,"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/posts\/69695\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/media?parent=69695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/categories?post=69695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/tags?post=69695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}