欧债危机的救援困境及其对欧元区的影响

欧洲国家的赤字和债务超标导致其主权信用评级被下调,金融市场出现动荡而爆发欧债危机。"自救"存在短期内是紧缩财政还是振兴经济的两难选择,"新债换旧债"会增添未来债务偿还压力;"外援"则陷入需要协调德法立场以及IMF贷款具有条件性的迷局。希腊退出欧元区的可能性不大,但敲响了欧元区不平衡发展的警钟。

The Rescue Dilemma of European Debt Crisis and the Influence on Euro Area

The ratios of deficit and debt in some European countries have gone beyond the limition of the Maastricht Treaty,which leads to the downgrading of their sovereign credit rating.If the above countries try to rescue themselves,they face the revitalization of economy.Moreover,to replace old debt with new deficit will probably increase the repayment pressure in the future.External rescue,however,needs the coordinatation of the standpoints between Germany and France,and has to face the IMF’s conditions in loans.The probability of Greece’s leaving Euro is very low,but it gives a stern warning to the unbalanced development of the Euro area.