After emotional votes, Slovakia should by Friday have finally ratified the expansion of the European financial stability facility, as Germany has already done. According to its revised statutes, the EFSF 2.0 will be armed with guarantees of €726bn and equipped with a broader arsenal of weapons to fight Europe’s sovereign debt crisis. The revised EFSF can raise some €440bn in market funding at AAA terms, which it can then deploy either for direct loans to eligible states, to buy their bonds in the market or to recapitalise banks. That is good but it is not enough.
与德国一样，在激动人心的投票之后，斯洛伐克上周五终于通过了欧洲金融稳定安排(European Financial Stability Facility，简称EFSF)的扩容方案。根据修订后的条款，EFSF 2.0版本将获得7260亿欧元的担保，并配备更加多样化的武器弹药来迎战欧洲主权债务危机。改进后的EFSF可以AAA条件在市场上融资约4400亿欧元，至于这些资金，它可以选择向符合条件的国家发放直接贷款，用于在市场上收购它们的国债，或者对银行进行资本重组。这很不错，但还不够。