谁把外债当回事

普林斯顿——当前,世界正面临重演2008金融崩溃的危险——甚至更厉害。这回的震中是在欧洲,而不是美国。而这次出事儿的金融工具,不是高度复杂的结构性产品,而是一种最古老的金融工具——政府债券。

尽管有关政府和央行急着想对策,但有一种深刻的心理机制阻碍着债务问题的有序解决:我们不太把欠陌生人的债当回事儿。

如果债权人远在他乡又素不相识,就会有比较强的冲动,索性违约,一了百了。2007~2008年,是购房者还不起钱,如今换成了政府。但不论是当时还是今日,债主都是遥远的陌生人。美国人的按揭并未留在本地银行的账上,而是被打包成玄奥的金融工具卖到全世界。同样地,希腊国债也有很大一部分攥在外国债主手里。

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