欧债危机中心援助机制的演进和展望

Evolution and Outlook of the Central Financial Stability Mechanisms to Resolve European Sovereign Debt Crisis

欧盟的发展史是一部危机产生和解决的叙述史。自2009年欧债危机爆发以来,欧盟联合国际货币基金组织和欧洲央行相继建立了一系列危机援助机制,采取了多次大规模援助行动。以欧洲金融稳定机制(EFSM)、欧洲金融稳定基金(EFSF)和欧洲稳定机制(ESM)为代表的欧债危机的援助机制具有多主体、多渠道、多层次、多内容的风险共同分担的鲜明特色。三者在演进过程中所取得的进步体现了欧盟推动欧元区一体化进程的不懈努力和高度政治智慧。

The development history of the EU is a narrative history of crisis appearing and solving.Since the sovereignty debt crisis erupted in 2009,the EU,joint IM F and the ECB,have established a series of crises assistance mechanisms and have taken several large- scale aid operations. European Financial Stability M echanism（ EFSM）,the European Financial Stability Fund（ EFSF）,and European Stability M echanism（ ESM） represented by the European debt crisis assistance mechanisms have distinctive features of the risk pooling of multi- agent,multi- channel,and multi- level. The progresses achieved in the evolution process of EFSM,EFSF,and ESM reflect EU ＇s tireless efforts and high political wisdom in the euro- zone integration process.