欧洲央行救得了欧元吗？_时事_双语阅读-查字典英语网

欧洲央行救得了欧元吗？

The rationale offered for the programme of “Outright Monetary Transactions is ingenious. The ECB insists that it does not aim to finance governments in difficulty. That, it insists, is a mere byproduct. At last week’s press conference, Mr Draghi stated that: “We aim to preserve the singleness of our monetary policy and to ensure the proper transmission of our policy stance to the real economy throughout the area. OMTs will enable us to address severe distortions in government bond markets which originate from, in particular, unfounded fears on the part of investors of the reversibility of the euro. In making this case, Mr Draghi argued that “you have large parts of the euro area in what we call a ‘bad equilibrium’ . . . So, there is a case for intervening . . . to “break these expectations, which. . . do not concern only the specific countries, but the euro area as a whole. And this would justify the intervention of the central bank. This then marks belated acceptance of strong arguments made by the Belgian economist, Paul de Grauwe, at the London School of Economics.

直接货币交易(Outright Monetary Transactions, OMT)的逻辑十分巧妙。欧洲央行坚称其目的不是为处于困境的政府融资，称这种效果只是一项副产品。在上周的资讯发布会上，德拉吉称：“我们意图维护货币政策的单一性，确保我们的政策立场妥善传递到整个欧元区的实体经济。OMT将使我们能够应对国债市场的严重扭曲，而这种扭曲的主要来源是投资者对欧元可逆性的无端恐慌。德拉吉在论证时提出：“欧元区有很大一部分被我们称为‘不良均衡’的地区……因此，我们有理由干预……来‘击破’这些预期……这不仅关系到几个特定国家，还关系到整个欧元区。而这将为央行干预提供依据。此番言论显示，伦敦经济学院(London School of Economics)比利时经济学家保罗·德·格劳威(Paul de Grauwe)的有力论点终于得到迟来的认可。