商业报道:德国中央银行遭遇债务危机

可可听力网 2012年06月21日 17:37:49

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      ThenexttwoweekswillbecriticalfortheEU'sfuturewithGermanytakingapivotalroleandhere'swhy: Germanymaybetheeurozone'seconomicpowerhouses, pocketsaredeep. Buttheyarefraying. Germany'scentralbank,theBundesbank, isalreadyonthehookforatleast 800 billiondollarsofperipheralcountrydebt. Andthat'saboutaquarterofGermanGDP. Thiscan'tjustbeaboutGermanybank-rollingbailouts. Everyoneissayingtheyneedadeeper, moreintergratedEU. Everyoneofcourse, exceptforEuropeanpoliticians.

      接下来的两周,对欧盟的未来至关重要。德国在欧盟担任了关键的角色,理由很充分:德国或许是欧元区的经济发动机,德国人民荷包里有钱,但也正在缩水。德国中央银行已经陷入至少8000亿美元的外围国债危机,相当于德国1/4的GDP。这不能仅仅是德国经济救助的问题。人人都说他们需要一个更加完整,协调性更好的欧盟!当然欧洲的政客除外。

      NowthemarriageanalogyheremightbeclichebutitsoaptlydescribestheEU: married, innameonly. Theyhaveyettoconsummatethisthing. Nowwhatwouldthattakewillfirst, politically, theywouldhavetotakeabigsteptosmoothouttheeconomicbumpsinweakercountrieslikeGreece, SpainandPortugal.

      现今,也许拿婚姻来譬喻欧盟已是老生常谈,但也确切地描述了欧盟的现状:结婚了,不过只是名义上的。他们还没有完善这个体系。现在欧盟首当其冲的任务是,在政治上迈出一大步来缓解经济弱国(如希腊,西班牙和葡萄牙)的危机。

      Theyarenursingrecessions, highunemployment, andsomearenowsuggestingthatausterityhasactuallybeenself-defeatingandresponsiblefortriggeringthoserecessions. Nowthatwouldmeancommittingtoamorefederalsystem, thatinanorderlywaymakestransferpayments, alotofthosetransferpaymentscomingfromcountrieslikeGermany, thosetransferpaymentsgoingfromstrongcountriestoweakeroneswhenevernecessary. ThismayseemlikeGermanyiscommittingtothefootingthebill, withabsolutelynopayback, buttheriskofcontagionisrealandhereiswhythisisjustonemeasure: ifSpanishbanksfail, GermanBanksremainthemostexposed. Imeanlookatthis: Germanytakingon 10%. ThepressureforGermanyandotherstofullycommittoEuropeineverywayisstrongandblunt, andmanylikehedgefundbillionaireGeorgeSorosaresaying: Look . Thisisthewarning,youhavelittletimeandlittleroomfordebatenow.

      这三国是经济萧条,高失业率的温床,一些成员国认为厉行紧缩政策只会弄巧成拙,会引发经济萧条。那意味着一国对多国负责,只是一种旧的转移支付方式。许多转移支付的资金都来自德国这样的国家,一旦有需要,资金则由强国转到弱国。看起来德国似乎是在争付账单,却永远得不到回报。但事态蔓延扩散至多国的风险是存在的,这就是为什么只有一个解决方案:如果西班牙银行倒闭,德国则是最大的受害者。我的意思是:德国的损失占总体10%。德国和其他国家面临的来自欧洲的压力很大,也很直接。正如对冲基金亿万富翁乔治·索罗斯说道:“看。这就是警告,你没有时间,没有余地去争论。”

      Paula, CNN, London.

      宝拉,CNN,伦敦。

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