Nearly two years after Europe’s sovereign debt crisis erupted, market and political uncertainty are worse than ever. Fear about states’ ability to service their debts is now set on a self-reinforcing course which, absent a radical shift in market psychology, could hit the very core of the eurozone. What is needed is nothing short of moving voters and markets from a mood of self-fulfilling pessimism to one of confidence in the future. So far leaders have failed at this task.
在欧债危机爆发已近两年的今天,市场和政治不确定性比以往任何时候都要严重。人们对某些国家偿债能力的担心,正处在一个自我强化的过程中。如果市场心理不发生根本性变化,这种担心可能会对欧元区的核心理念造成冲击。帮助选民和市场摆脱自我实现的悲观情绪、重拾对未来的信心,恰恰是我们现在需要做的。但迄今为止,可以说欧洲各国领导人并没有完成这项任务。