塞浦路斯的掷骰子决策

普林斯顿—任务从来不容易:让塞浦路斯政府债权人和银行储户承受约58亿欧元的损失。现在,这一任务让欧洲再一次走入了僵局。

在马拉松式的谈判中,塞浦路斯政府在三驾马车(欧洲委员会、欧洲央行和IMF)的监督下同意实施银行存款的一次性“税收”。但是,尽管这一方案带有20000欧元以下存款豁免的修正案,塞浦路斯议会仍以压倒性优势否决了它,让塞浦路斯——以及欧洲——陷入乱局。

事实上,大储户和大债权人并无区别,计划中的“剃头”也是一个小规模但受欢迎的进步。但是,由于这一步走得不够远,仍有漏洞。还有其他选择。应该身处谈判桌的资深主权债务律师巴克海特(Lee Buchheit)以及杜克大学的古拉提(Mitu Gulati)建议对塞浦路斯的150亿欧元主权债务来一个漂亮的“修饰”,这能马上减轻该国的融资压力。但在谈判开始前,这一方案就被否决了。

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