20110816 Follow Me 97 summer0802

97,97

There are two ways to calm the euro markets, one is measures from the ECB, and the other is to create EFSF.

EFSF, a bailout fund, won’t be ratified until this autumn when leaders come back from their summer holidays and parliaments are recalled. Moreover, the size of the fund is limited to $620 billion, not enough to deal with Italy, let alone Italy and Spain.

In contrast, the ECB can act now. It decided to purchase Italian and Spanish government bonds, which resulted in a sharp fall in yields as markets opened on August 8th. But the real action has not yet started and even its purchase of Irish and Portuguese bonds was opposed by some members of the governing council. ECB’s move was reactive rather than pre-emptive and followed immense pressure from political leaders. Its reluctance came from the big losses incurred by Greek bond purchases and the credibility brought about by its entanglement into fiscal rather than monetary territory, which leaves the bond-buying rescue no more than containing the latest outbreak nerves.

To pass the sovereign-debt crisis, it is necessary for Europe to build a much more secure fiscal underpinning to its shaky monetary union and to win support from voters in the creditor countries.

The ECB, by contrast, can act now. And, potentially, it has unlimited firepower since it can pay for any purchases by creating money.
this is the charactor of any cenral bank.  
仔细读了两遍，终于懂了。每个央行都不容易啊，既要拯救各个子国，又要保全自己。

The ECB, by contrast, can act now. And, potentially, it has unlimited firepower since it can pay for any purchases by creating money.
this is the charactor of any cenral bank.  
仔细读了两遍，终于懂了。每个央行都不容易啊，既要拯救各个子国，又要保全自己。

Follow Me:95, 58

谢谢分享   学习

谢谢分享   学习

今天follow了~可是要做数模~没法做笔记了~

终于回来了，好想念大家，实习期间手机没法！！登陆论坛

bengdi1986 发表于 2011-8-17 11:49
终于回来了，好想念大家，实习期间手机没法！！登陆论坛

怪不得好久不见你呢，去实习了啊。呵呵。欢迎回来