One of the founding fathers of the euro admits that some states may be forced to abandon the single currency. |
One of the founding fathers of the euro admits that some states may be forced to abandon the single currency, but insists Germany would be better off staying in. Otmar Issing, a former European Central Bank chief economist, warned that the eurozone could be heading towards fracture in a book called How we save the euro and strengthen Europe published this week. "Everything speaks in favour of saving the euro area. How many countries will be able to be part of it in the long term remains to be seen," said Mr Issing in the book, which is written as a conversation between an economist and a journalist. At no point did he explicitly refer to Greece, but the debt-stricken country has been hovering perilously close to default and an exit from the eurozone as it makes harsh spending cuts and tax hikes to appease the EU and ECB after receiving billions in bail-out payments. "We are still a long way off saying 'that's it, now we are sure to make progress'. Substantial reforms in almost all countries are still pending," he added. Mr Issing is one of the founding fathers of the euro, but also predicted potential problems with the plan and argued that political union ought to precede a shared currency to ensure its stability in the long-term. The economist has now said there is a case for some countries to leave the union in order to solve their own debt problems, but that Germany would do best to remain a member. "Even in its short existence, the euro has been more stable than the mark", he said. The German economist also played down the role that the central bank, his former employer, could have in solving the debt crisis, suggesting that countries needed to fix their own problems. "There is no quick fix and anything in the direction of euro bonds or something similar would mean for me the end of the stability-oriented currency union. "The less politicians address the root of the problems, the more they look with their expectations and demands to the ECB, which is not made for this. It is a central bank and not an institution to rescue governments threatened by bankruptcy. A central bank always also acts as a lender of last resort for the banking system - but it does not rescue governments," he said. "Exaggerated expectations alone can harm the prestige of the institution." (Read by Nelly Min. Nelly Min is a journalist at the China Daily Website.) (Agencies) |
歐元的創(chuàng)始人之一奧托馬?伊辛近日表示,一些歐元區(qū)國家可能被迫放棄這一單一貨幣,但他認為德國留在歐元區(qū)會更好。 在本周發(fā)行的新書《我們?nèi)绾握葰W元,鞏固歐洲力量》中,前歐洲央行首席經(jīng)濟學家奧托馬?伊辛提醒說,歐元區(qū)有可能瓦解。 伊辛在書中說:“大家都支持拯救歐元區(qū),但從長遠來看,有多少國家會一直留在歐元區(qū)還有待觀察?!边@本書是以一位經(jīng)濟學家和一位記者對話的形式寫成的。 他的此番言論并沒有明確將矛頭指向希臘,但深陷債務危機的希臘距離債務違約和退出歐元區(qū)也不遠了。希臘實施了嚴格的縮減開支和增稅措施,以便在收到幾十億歐元的援助款后安撫歐盟和歐洲央行。 他補充說:“現(xiàn)在我們離說‘就是這樣,我們可以確保做出改善了’還遠得很。絕大多數(shù)成員國的大量改革計劃仍然待定?!?/p> 伊辛是歐元的創(chuàng)始人之一,但他也預測出了歐元計劃潛在的問題,并指出,政治聯(lián)盟應該領先于單一貨幣,以確保貨幣的長期穩(wěn)定性。伊辛現(xiàn)在表示,有可能出現(xiàn)有些國家脫離歐元區(qū),以解決國內(nèi)債務問題的情況,但德國應該盡力留下。 他說:“即使在較短的存在期間,歐元也比馬克穩(wěn)定。” 他認為自己的前雇主、歐洲央行在解決債務危機中的角色沒有那么重要,各個國家需要自己解決問題。 “沒有權宜之計,如果朝著歐元債券或者類似事物的方向發(fā)展,那就意味著以穩(wěn)定為導向的貨幣聯(lián)盟的終結?!?/p> 他說:“政治人士們越少談論危機的根源,就能越多地帶著期望和需求看待歐洲央行,歐洲央行不是為解決債務危機而成立的。它是一個央行,不是拯救瀕臨破產(chǎn)的政府的機構。央行也經(jīng)常成為銀行系統(tǒng)的最終貸款人,但央行并不負責拯救政府??鋸埖钠谕阋詺У粞胄械穆曌u?!?/p> 相關閱讀 (中國日報網(wǎng)英語點津 Julie 編輯:陳丹妮) |
Vocabulary: in favour of: 支持,贊成 bail-out: 援助,幫助擺脫困境 play down: 貶低,減少 quick fix: 權宜之計 |