专栏欧元

The futile attempt to save the eurozone
欧元“没救了”


FT专栏作家布里坦:欧元解体过程可能漫长而混乱。德国坚持极为严厉的财政政策,德国财长甚至表示,无力恢复元气的个别欧元国家可以放弃欧元。

To some who went through the unsuccessful struggle from 1961 to 1967 to stave off sterling devaluation, the series of crises surrounding the euro will be drearily familiar. First there is a surprise loss of confidence. Then there is a series of rescue operations, usually taking the form of international guarantees of one kind or another. These are backed up by domestic restrictive measures leading to a domestic recession of sorts. In time the financial pressures ease and near-normality is seen to return. But then, when few are looking, there is another crisis, another set of international rescues and another set of domestic restrictions. And so on. Eventually the struggle is abandoned, and political and financial leaders work to pick up the pieces.

对于一些曾经历过1961年至1967年不成功的阻止英镑贬值努力的人而言,现在围绕欧元的一系列危机与当年的情景惊人的相似。首先,信心意外缺失。然后是一系列救助行动,通常采取一种或另一种国际担保的形式。这些得到了导致国内衰退的国内限制性措施的支持。经过一段时期后,金融压力得到缓解,接近正常的状况被视为再次出现。但接着(在没有人注意的时候)将会出现另一场危机、另一套manbetx app苹果 救助措施和另一轮国内限制措施。如此周而复始。最终,人们放弃了努力,政治和金融领导人不得不致力于收拾残局。

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