Borrowing costs for poor EU nations high
So what has forced the ECB to come up with the new plan to ease the euro crisis? These are the countries in red that use the euro, many of them struggling with record debt. But while analysts believe that debt is at the heart of the problem, businessman Gorge Sorros thinks this:
是什么因素迫使欧洲中央银行(ECB)制定计划以缓解欧元区危机?目前使用欧元的国家中,有许多国家债务数目达到历史新高,这些债台高筑的国家正在拼命挣扎。尽管分析家们认为债务是问题的核心所在,企业家Gorge Sorros却是这样分析的:
The main source of trouble is that the member states of euro have surrendered to the European Central Bank their rights to create fiat money.
此次危机的主要原因是欧元区成员国将发行名义货币的权力全部移交给了欧洲央行。
Think about it like this. If the country, like the United Kingdom let's say, somehow runs out of money and needs a bailout, its central bank has the ability, if need speed, to print more money. But in the case of countries where part of the euro, they just don't have that privilege any more. That right lies with the European Central Bank and printing more money, something they just don't want to do. That's at least in part the problem we have today.
让我们来思考一下这个问题。如果这个国家,举例来说,比如英国处于国家的货币耗尽,需要救市的情况下,如果此时,英国中央银行有能力快速印刷大量货币?但是,因为国家都从属于欧元区,他们没有权力发行货币。只有欧洲中央银行有权印刷更多纸币,但它又不愿意这样做。这便是我们今天所面临危机的部分原因所在。
Borrowing cost of the poorest eurozone countries is sky high. Greece's 10-year bond yields are above 20% that highest in the euro. Spain too is also seeing its cost of borrowing soar above 7% for the first time in history, and today floats close that number. Even Italy, the third largest economy on the continent, has seen its cost of borrowing reached record highs, which brings us back to the European Central Bank. And this man in particular Mario Draghi, his plan will see ECB begin a bond-buying program that will focus on bonds 3 years in length. His hopes that this will bring down the cost of borrowing for those struggling the most and help ease the crisis once and for all.
Isis Worries, CNN, London.
对欧元区穷国来说,借贷成本爆涨。希腊的为期10年的债券利息率超过20%,列于欧元区之首。西班牙现在同样面临其借贷成本高过7%,这是历史记录,今天的浮动已接近这一数值。甚至连意大利,欧洲大陆第三大经济体,借贷成本也已达到历史最高记录。这一切,让我们转向欧洲央行。目前就任意大利央行行长的德拉基,他的计划是ECB启动债券购买计划,主要集中发行3年期债券。他希望此举能降低那些苦苦挣扎的国家的借贷成本,能够有助于一劳永逸地缓解危机。