直接货币破坏

慕尼黑—德国宪法法院公布了人们翘首以待的关于欧洲央行“直接货币交易”(OMT)计划的裁决。在该计划于2012年,欧洲央行可在必要时购买无限量的受困欧元区国家政府债券,只要相关国家遵守欧洲救援基金——欧洲稳定性机制(ESM)的规定。

成千上万德国人上诉宪法法院要求推翻OMT计划,指出该计划违反了欧盟运行条约 (Treaty on the Functioning of the European Union)第123条关于禁止欧元区政府实行货币融资的规定,以及该计划给德国纳税人公民带来了重大风险。现在,宪法法院宣布完全支持原告立场,OMT计划确实违反了欧盟基本法。

但是,德国宪法法院并没有发布能约束德国央行和德国议会的正式裁决(本可以如此),而是将该案交给欧洲法院(European Court of Justice)最后定夺。乍一看这似乎安抚了市场——市场可能预计欧洲法院只不过是OMT计划的橡皮图章。但事情并不是那么简单。

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