Dean Rohrer

欧元区站在十字路口

布宜诺斯艾利斯——

最近,许多观察人士宣称,欧元区危机实际上已解决,或者说至少能稳定几年。2011年,在意大利政府举行的最后一次债券拍卖会上,债券收益率下降了。这表明设想的主权债务违约风险大大降低了。由于人们把意大利债券当做欧洲危机的风向标,许多人将此解释为欧洲债务市场正在恢复正常。

欧洲央行决定以超低利率为各商业银行提供为期三年的无限量贷款,据说,这一决定促进达成了这项危机的“解决法案”。但是正常情况下,央行作为贷款者最后的后盾应该更加有所作为。因此为什么会有这么多新的乐观情绪?

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