强调欧洲一体,不让成员失利

柏林—投资银行家们现在再度思考一个国家脱离欧洲货币联盟(EMU)或是被推出去的可能性。由于葡萄牙,希腊和西班牙在经济增长方面的不利前景和脆弱的公共财政,评级机构已经下调了这三个国家的等级。爱尔兰看上去也状况不佳,可能很快也会被降低等级。

由于对这个或那个欧元区国家可能会发生违约的担心持续上升,欧洲货币联盟国家之间政府债券的收益率价差已经达到了创纪录的高点。一段时间以来,希腊十年期政府债券的收益率比德国高出了300个基点。这标志着投资者现在看到了希腊发生违约,或是该国退出欧洲货币联盟,重新确定政府债券的票面利率的严重风险,

但是关于欧洲货币联盟可能会解体的恐慌夸张了。成员国更有可能违背该组织的一条基本原则,帮助伙伴成员国脱离困境,而不是让它发生违约,而后退出欧元区。

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