欧元经得住当前的危机吗?

        剑桥-欧洲经济与货币联盟(EMU)和欧元快要进行十周年庆了。欧元的引进没有产生严重的问题,并且此后运行良好,与此同时欧洲中央银行将低通胀作为其首要任务

        但是,当前的经济危机可能对欧元在更困难时期继续运行下去的能力提出了严峻的考验。虽然当前的经济危机可能加强欧洲经济与货币联盟提供的制度机构,但是也可能产生多重风险。如果欧洲经济与货币联盟的成员国想要避免这些风险,它们就必须意识到这些风险。

主要问题是,单个的欧洲经济与货币联盟成员国国情的发展可能非常不同,以至于一些国家的政治领导人可能倾向于认为,他们的国家通过采取和其他成员国不同的各种政策,对国家更为有利。目前欧元区政府债券利率的差异表明,金融市场认为欧洲经济与货币联盟的分裂是一个现实的可能。例如,希腊和爱尔兰的十年期政府债券现在支付的利率,和可比较的德国政府债券比起来,几乎整整高了一个百分点,而意大利的债券利率几乎也一样高。

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