In any case, sell-offs will not happen quickly enough to bridge the financing gap in 2012. Thatleaves Europe facing a range of unpalatable options . No European policymakerseems willing to countenance a serious haircut on Greek debt yet, for fear that it underminesconfidence elsewhere. And no European politician wants to be seen giving more taxpayersmoney to the Greeks without getting something back.
无论如何,再快的开始抛售也不能填满2012年的财政缺口。这让欧洲面临一系列令人不快的选择。欧洲政策制定者们目前似乎都不鼓励大量削减希腊的债务,他们害怕这回造成其他地方的信心逐渐丧失。同样的,欧洲政治家们也不想在没有得到回报的情况下付出更多纳税人的金钱给希腊。
Another option is a reprofiling, whereby creditors agree to a voluntary extension of thematurity of their bonds. That would not sort out Greeces financesit might reduce the netpresent value of Greek debt by up to 20-25%but it would keep the country away from themarkets for a while. But the ratings agencies have said that such a soft restructuring, or eventhe buyback and cancellation of outstanding bonds , would count as a default and lead to further cuts in Greeces rating. That makes itunacceptable to the European Central Bank , whose opposition to any form of debtrestructuring borders on the pathological.
另一个方法就是重新评级,债权人以此自愿同意延长债券的到期日。这一方法不会理清希腊的财政状况,这可能减少希腊债务净现值的20%到25%,但是它会使得希腊原理市场一段时间。然而,评级机构已经指出:软重组或者说重新购回或者取消未偿还债券称之为隐性重组),会被算作不履行义务的表现,并且会造成希腊评级的进一步下降。这使得该方案很难被欧洲中央银行接受,因为ECB反对任何形式的近乎不理智的债务重组。
【2015考研英语阅读世上最烂账单】相关文章:
最新
2016-10-18
2016-10-11
2016-10-11
2016-10-08
2016-09-30
2016-09-30