德国中央银行对希腊状况的评估# Stock
c*r
1 楼
Current developments in Greece are extremely
worrying. Greece is threatening not to implement
the reform and consolidation measures
that were agreed in return for the large-scale
aid programmes. This jeopardises the continued
provision of assistance. Greece would
have to bear the consequences of such a scenario.
The challenges this would create for the
euro area and Germany would be considerable,
but manageable given prudent crisis management.
By contrast, a significant dilution of existing
agreements would damage confidence in
all euro-area agreements and treaties and
strongly weaken incentives for national reform
and consolidation measures. In such circumstances
the institutional status quo comprising
liability, control and individual responsibility of
member states would be fundamentally called
into question.
When the Eurosystem provided Greece with
large amounts of liquidity, it trusted that the
programmes would be implemented and
thereby ultimately assumed considerable risks.
In the light of the current situation, it should
not significantly increase these risks. Instead,
the parliaments and governments of the member
states should decide on the manner in
which any further financial assistance is provided
and therefore whether the associated
risks should be assumed.
worrying. Greece is threatening not to implement
the reform and consolidation measures
that were agreed in return for the large-scale
aid programmes. This jeopardises the continued
provision of assistance. Greece would
have to bear the consequences of such a scenario.
The challenges this would create for the
euro area and Germany would be considerable,
but manageable given prudent crisis management.
By contrast, a significant dilution of existing
agreements would damage confidence in
all euro-area agreements and treaties and
strongly weaken incentives for national reform
and consolidation measures. In such circumstances
the institutional status quo comprising
liability, control and individual responsibility of
member states would be fundamentally called
into question.
When the Eurosystem provided Greece with
large amounts of liquidity, it trusted that the
programmes would be implemented and
thereby ultimately assumed considerable risks.
In the light of the current situation, it should
not significantly increase these risks. Instead,
the parliaments and governments of the member
states should decide on the manner in
which any further financial assistance is provided
and therefore whether the associated
risks should be assumed.