希腊债务危机-资本市场暗伤.docVIP

Going for markets让凯撒的归凯撒，市场的归市场The Greek crisis has unleashed more misguided attacks on the financial markets希腊债务危机致资本市场暗伤Apr 29th 2010 | From The Economist print editionACCORDING to legend, Willie Sutton robbed banks “because that is where the money is”. If only European politicians were as rational. The euro zone is now threatened by a sovereign credit crunch nasty enough to plunge entire economies into misery. Warding it off will involve keeping (or, for Greece, regaining) the confidence of financial markets, so that horribly indebted countries can continue to service their debts without being crippled by the cost. For all the brave talk of solidarity among euro countries, taxpayers on their own cannot and will not pay to keep their neighbours afloat. In short, Europe needs the markets to get it out of this hole, because they are where the money is.传言称，美国银行大盗威利.萨顿打劫银行的原因是：“钱在银行里”！但愿欧洲政治家们可以像威利萨顿那样不至于犯晕。欧元区现在已经陷入一场主权信用危机，其危险程度之深足以将欧洲拖入不复深渊。为避免灾难发生，需要保持（或者对于希腊来说应该是 重获）投资者对于欧洲市场的信心。唯有如此，那些欧洲深陷债务泥沼的国家才可能继续偿还其债务而不是被支出拖垮以至破产。相对于欧盟国家内部关于团结共度难关的高调，各国的纳税人不能，也不大会同意出钱搭救落难同伴。简而言之，欧洲需要让市场来拯救深陷债务危机的同伴，因为“钱在市场那里”。 ??That means it is time for European leaders to call a truce in a populist campaign to present the markets as illegitimate decision-makers, driven only by the cynicism and greed of “speculators”. Such populism has painted politicians, notably in Germany, into a rhetorical corner. If the markets are so wicked, why should voters spend money on emergency aid whose purpose is to help Greece regain investors’ confidence???这意味着，欧盟领导人是时候停止再打着民粹主义的旗号，将市场描述成只受“投机者”的玩世不恭和贪婪驱动的“不合格决策者”。这些民粹主义言论将欧盟（尤其是德国）官员置于自相矛盾的境地。 假如市场本身罪恶至此，那选民为什么还要将钱投在目的仅仅是为了帮助希腊挽回投资者信心的救助计划上？Politicians were at it again this week, after Greece had asked for loans from the European Union and the IMF (see article). President Nicolas Sarkozy of France was heard vowing resolute action against the “speculation targeting Greece”. Yves Mersch, Luxembourg’s central-bank governor, denounced “increasing