民粹主义兵临欧洲城下

伦敦—欧洲的危机结束了吗?投资者、政策分析师甚至官员都开始静悄悄地暗示可能确实如此。自7月26日欧洲央行行长德拉吉宣布将“竭尽全力”捍卫欧元以来,欧元对美元汇率已经上升了近10%。

类似地,常用的欧元波动性期望值指标欧元 VIX大幅下降。对冲欧元/美元汇率波动风险的工具的价格在上个月跌到了五年来的最低水平。西班牙和意大利政府的借贷成本也出现了类似的大幅下降。

市场条件的这些变化背后的驱动力是相同的。欧洲领导人推出了支持意大利和西班牙的机制。10月,欧洲大陆有了操作性的欧洲稳定性机制(ESM),用于在投资者拒绝购买时收购意大利和西班牙政府债券。

To continue reading, please log in or enter your email address.

To continue reading, please log in or register now. After entering your email, you'll have access to two free articles every month. For unlimited access to Project Syndicate, subscribe now.

required

By proceeding, you are agreeing to our Terms and Conditions.

Log in

http://prosyn.org/XTcl9Xq/zh;

Cookies and Privacy

We use cookies to improve your experience on our website. To find out more, read our updated cookie policy and privacy policy.