If you use a single word summary of the Global Financial Markets in 2011, then the “debt crisis” can have significant representation. In recent years, whether it stocks, bonds or foreign? Ndisch investors, it seems to match Europe. If the debt crisis in Europe has a certain Ma? at ease, all kinds of risky assets one big e have a chance to get an appreciation, and vice versa. In 2012, the continuing debt crisis will be some new W? Currency? In my opinion, the answer to this question f? Both r est aussi not. First look at “yes” part. The debt crisis of the old and the new phase of a turning point, when the first division in the November 2011, the Europ? New European Central Bank Press? President Mario Draghi (Mario Draghi) of B ro-time. As the saying goes broom sweeps clean, honest ET Drudge B took ro less than three months, but it has a series of bold, then the form-Pr? President Jean-Claude Trichet (Trichet) failed to implement the new policy, res ? There are several optimized down. Drudge in his first after taking office, the first and second central bank meeting, a two-euro benchmark interest rate down from 1.5% to 1% of the current form Pr? President Jean-Claude Trichet indirectly in 2011, first H? Half denied the interest rate policy. In order to know the ftig Europ? Pean Central Bank, with the acquaintances HAS inflation risk severity, even in the 2008 financial crisis, not coated STI policy rate below 1%?. This Is Why Jean-Claude Trichet in the first H? Half of 2011 appears to stabilize the world economy significantly, but the case seems to have an inflation worries, obtained from other central banks rush to the interest? Hen an important reason. You do not have z? Like Target Drudge The Beginning Of His form tight monetary policy to be reversed, STI Showing determination to deal with the crisis. Drudge took office after the second big s policy is to all the shops ftsbanken in Europe up to three years on the benchmark interest rate (1%) loans, the So-Called long-term refinancing loans (Long Refinanzierungsgesch based? Ft. Limited) To to be fair, the Europ? pean Central Bank in the ?-W is not currency area? blind f? r the plight of Asian L? Santander Bay of Pigs. But the central bank charter within its mandate, have the ECB and other central banks do not stress that highly indebted government direct financial bottom? Tzung lead to weight?, You can not buy the thesis Prim? Rmarkt in government bonds. So far, the So-Called-Help-Ma? Took the concealed ECB has, they can not part clear enough fear of radical market policies calm, even in Asian L? Change to buy government bonds, when is a pig a secret, limited to the purchase of bonds on the secondary Claiming? larger market, is a safe and After Time to re-sell (sterilization). Understanding of the central bank restrictive policy perspective on the long-term refinancing loans, k? Can this that the Europ? Pean Central Bank in exceptional? Fill sense to be a trick. The central bank is wishful thinking, Can honestly f the government does not direct aid? R these deficits, then the provisions of the Charter in the states? STABILITY the big s bottom? Tzung ftsbanken business in the euro zone? Shops ftsbanken by the hand and then give some of the debt trap of any public authorities (such as buying government bonds yours) Tzen at the bottom to the government the ultimate goal?. A further objective of the vision Things The Other Side of the ?-zone F? Guide (especially the leaders of Germany and France) still want to give the government enough pressure that the deficit on the reform of financial systems and internal ITS Ausgabenk? expand abbreviations f? continues rdern, it is also to them? berm? owned? Public financial bottom? Tzung, the sw? tion f of the pressure? r reforms to meet, so the life of the loan until the end of three years k ? can their bed? rfnisse to satisfy urgent target fundamental problem of long-term fiscal measures adopted Ma? of governments? berlassen itself. Reaction from the market, have the Euro-zone banks f? R nearly Applied? 500 billion of total long-term funding clear? About market expectations. Although this L? Solution to the debt crisis, the effect remains to be seen, the purpose is different than Pred Drudge? Nger of the historical approach to the crisis is evident. In fact, against the ?? Sincere about the dollar ET Drudge took office, from 1.41 down to about 1.27, in less than three months, a sharp depreciation of 10% shows that the market has begun the The new recognition Europ? pean Central Bank in response to the crisis, unlike the policy of his superiors? nger and effect. The hei t, “yes”, then you’re talking about simple “no”. In my opinion, even if some bold policy Mario Draghi, Will be derived from the policy of his Pred? Nger separate, but the plight of the Euro-zone government debt in the fundamentals problem? N namely a high debt, weak? About strong W? currency and growth is not resolved in the short term. Short-term central bank monetary policy is no panacea for the problems mentioned above sen the limited long-term fundamentals at l?. To avoid problems with L? Sen thesis, there is still need these troubled reign, more big? ranging reforms to boost productivity? t and stimulate the growth, or Another Year, may we see the government in the pattern of faltering debt, deeper and deeper. Orig? Accessible Lianhe Zaobao set this article. Related Posts: What is the link between crisis and Greek RMB (renminbi debt crisis and Greece) bubble burst in 2012 (bubble burst in 2012) Zhijian Wu: Why should not Germany, and not w rde [..? .]
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