新的一年,危机不变

达沃斯——去年12月份,欧洲央行推出的措施,尤其是“长期再融资操作”,缓解了欧洲各银行的流动性问题,但是并没有消除高负债成员国的融资劣势。自从政府债券的高风险溢价危及各银行的资本充足性以来,治标不治本的解决办法已经不够。

实际上,这种解决办法使一半欧元区成员国沦为了第三世界的国家,背负了大量以外币计价的债务。迫使它们实行严厉财政纪律的不是国际货币基金组织而是德国,德国充当了监管者的角色。这会导致经济和政治关系紧张,破坏欧盟。

我提出了一个计划,它能够通过发行收益率约为1%的国库券为其债务重新融资。我有一位朋友叫托马索•派多亚•夏欧帕,他在20世纪90年代曾任意大利央行行长,帮助稳定了该国的金融业。为了纪念他,我用他的名字命名了我的计划。这个计划相当复杂,但是从合法性和技术上来说都是相当不错的。我在自己的新著《欧洲和美国的金融乱局》中详细介绍了这个计划。

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