论文部分内容阅读
2011年以来,主权债务危机愈演愈烈,从逻辑上讲它可视为金融危机的延续。在现今这个金融经济时代,过度的金融创新在推动经济前行的同时也增大了金融脆弱性。当金融脆弱性被次级贷款违约触发,便由次贷危机逐步升级为金融危机。政府救市导致一些国家财政收支恶化,进而以主权债务危机的形式继续延续着金融危机。本文回溯了整个危机的发展过程,认为解决危机的根本在于采取相应措施减缓和抑制金融脆弱性的增加。
Since 2011, the sovereign debt crisis intensified, logically it can be regarded as a continuation of the financial crisis. In today’s era of financial economy, excessive financial innovations have boosted the financial crisis while boosting the economy. When the financial vulnerability is triggered by the default of subordinated loans, the subprime mortgage crisis escalates into a financial crisis. The government bailout has led to a deterioration in the fiscal revenue and expenditure in some countries, thereby continuing the financial crisis in the form of a sovereign debt crisis. This essay traces back to the development of the whole crisis and holds that the solution to the crisis lies in taking corresponding measures to reduce and suppress the increase of financial vulnerability.