欧洲的间歇性金融一体化

伦敦—今年夏天引起轩然大波的葡萄牙Espírito Santo银行麻烦提醒我们,欧元区金融危机还远未的大解决。毫无疑问,Espírito Santo银行问题的背后有诸多不同因素,与Espírito Santo家族商业帝国的其他部分关系很大。但当该银行公布上半年亏损36亿欧元时,信心的突然崩溃值得警惕,紧张的投资者想弄清楚其他地方是否也有滴答走动的定时炸弹。

现在,所有的目光都对准了应于几个月后完成的欧洲央行的资产质量评估。资产质量评估是对欧洲银行的“全面评估”,随后,欧洲央行将在11月开始负责欧元区80%以上银行系统的监督工作。

欧洲央行相当明智地希望所有潜在问题都在它接手监督责任前暴露出来,这无可指摘。而国家监督者往往倾向于粉饰本国机构,由于它们不再拥有监督权,因此我们可以希望该评估将比早些时候由欧洲银行管理局(European Banking Authority,EBA)组织的压力测试更加鲁棒。不少在通过压力测试的银行很快就被迫增加新资本。

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