欧洲债务危机、财政联盟与蓝色债券

Debt Crisis in Europe,Financial Alliance and Blue Bond

自希腊发生主权债务危机以来,欧元区持续动荡。欧元区总体财政状况并不差于美国等国,但欧元区却率先陷入债务危机困局,未建立统一的财政政策是一个重要原因。在债务危机的逼迫下,欧元区针对危机采取了一系列救助措施,这事实上是某种形式的财政联盟。在对比美欧财政和公共债务状况的基础上,本文探讨了欧元区建立财政联盟的必然性,分析了欧元区财政联盟的实际进展,并进一步剖析了建立财政联盟的一种方案——"蓝色债券"的优点和障碍等。

Since sovereign debt crisis happened in Greece, Euro area has been volatile. The general financial conditions of Euro area is no worse than U. S., but Ettro area took the lead in falling into the deadlock of debt crisis. Failing to establish consistent financial policies is one principal mason. Confronted with debt crisis, Euro area took a series of measures to respond to this crisis. These measures actually constitute a kind of financial alliance. Comparing finance and public debts conditions between U. S. and Europe, this paper discusses the necessity of establishing financial alliance in Euro area, analyzes its actual development, and de lmeates the merits and obstacles of blue bond, which is one approach to establish financial alliance.