德国与欧元

柏林—通常,当出了某种状况并导致谁应该为伤害负责的争议时,个人或机构就会被带上法庭。因此,德国宪法法院6月11—12日关于欧洲央行所谓的直接货币交易(OMT)计划的听证会显得相当独特。正是关于近几十年来最成功的货币政策措施——不是欧洲,而是全世界——的争议。

2012年7月宣布的OMT降低了公司和政府面临的利率,让急需的私人资本回到危机受创国,从而帮助欧洲外围深层危机的纾解。它还带来了最宝贵的资产:对欧元区经济和货币——欧元生存能力的信心。

最妙的是,所有这些成果没有耗费一个子儿。所有投入只是欧洲央行行长德拉吉及其治理委员会的声明——将“竭尽全力”购买欧元区成员国主权债务,只要它们满足严厉的财政条件。没有哪个国家有这样大的手笔。

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