欧洲债券市场的发展

Development of bond market in Europe

欧元区的金融体系是以银行为主导的，不过近年来．欧元区的金融市场尤其是债券市场．还是有了突出的变化。欧洲国债市场、私营部门债券市场信用衍生品市场、资产支持证券市场及其它周边市场都有了长足的发展．金融市场的一体化和发展对于促进货币政策在欧元区内的传导、促进欧元区经济增长、促进欧洲最优货币区的形成都有重要意义．

The financial system of the euro area is bank ohented, white the market cernponent Of the financial system has undergone through dramatic changes over the most recent years. Government bond market, private bond market, credit derivatives market, Asset Backed Securities （ABS） market and other contiguous markets have achieved substantial development. The development and integration of financial system is of great significance to improve the transmission of monetary policy impulses across the euro area. promote its economic growth, and contribute to making the euro area an optimal currency area.