德国经济引擎熄火欧元区第二季度经济深陷停滞

2014-08-25 17:54:04来源：可可英语

　　Immediately after France reported its second straight quarter of zero growth, Finance MinisterMichel Sapin abandoned the government’s aim of keeping the budget deficit to only 3.8% ofGDP this year, because the growth target of 1% was no longer realistic. He said France hadspending “completely under control” and wouldn’t raise taxes to plug any holes in the budget.

　　就在法国刚刚宣布第二季度再次陷入零增长后，法国财政部长迈克尔•萨班就表示放弃政府原定的今年预算赤字仅占GDP 3.8%的目标，因为全年经济增长1%的目标已成空中楼阁。他表示，法国已“完全掌控”了支出，且不会通过增加税收的方式来填补预算漏洞。

　　“The ECB…must exhaust its possibilities, in line with its mandate, to make the risk of deflationdisappear and to bring the euro back to a more favorable level,” Sapin wrote in an op-ed piecein the newspaper Le Monde.

　　萨班在《世界报》(Le Monde)的一篇专栏文章中写道：“欧洲央行……必须根据其要求采取所有可能的措施，消除通缩风险，使欧元价值重回良好水平。”

　　France has already spent a lot of political capital with Germany and others in getting a two-yeargrace period from Eurozone to bring its budget deficit down to 3% of GDP. Sapin’sannouncements Thursday will further test the resolve and patience of German ChancellorAngela Merkel, who needs French support to keep up the pressure for reform on countriessuch as Italy and Greece.

　　法国在德国和其他成员国身上花了大笔政治资本，从欧元区争取了为期两年的宽限期，旨在将其预算赤字拉回占GDP 3%的水平。而上周四西班牙发表的声明则将进一步考验德国总理默克尔的决心和耐心。现在默克尔需要获得法国的支持，继续施压意大利和希腊实施改革。

　　Markets bet on Merkel and the ECB being the first to blink, though. Yields on governmentbonds fell to new record lows as traders bet that the ECB would start buying bonds in a formof ‘quantitative easing’ akin to U.S., U.K. and Japanese ones. The German 10-year yield fell toa new record low of 1.00%, while Italy’s fell to 2.67%. Stocks were also broadly higher, theEuro Stoxx 600 index rising 0.3%. The euro itself rose a quarter of a cent to $1.3403.

　　但市场在下注默克尔和欧洲央行会很快作出反应。由于投资者确信欧洲央行会采取类似美国、英国和日本央行的“量化宽松”政策开始买入政府债券，致使政府债券的收益率跌至历史新低。比如德国10年期的政府债券收益率已跌至1.00%的历史新低，而意大利政府债券收益率也跌至2.67%。而股市价格则普遍上涨，欧洲斯托克600指数上涨了0.3%。欧元则小幅上涨了0.25美分至1.3403美元。

　　“Germany’s disappointing performance should weaken Bundesbank opposition to anyfurther stimulus steps should the ECB majority decide they are necessary later this year,” saidBerenberg Bank economist Christian Schulz.

　　贝伦贝格银行(Berenberg Bank)的经济学家克里斯蒂安•舒尔茨表示：“今年下半年如果欧洲央行大部分人认为有必要采取进一步的刺激政策，德国令人失望的经济表现就应会促使德国央行不再反对此举。”

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