简议欧洲中央银行应对2008年以来危机的两个突破发展  

A Brief Discussion of Two Breakthroughs of the European Central Bank During Its Coping with the Crisis Since 2008

作　　者：潘文[1] Pan Wen

机构地区：[1]四川大学外国语学院,成都610064

出　　处：《外国语言文学与文化论丛12——区域与国别研究专辑》2016年第1期109-121,共13页

基　　金：教育部区域与国别研究培育基地--四川大学欧盟研究中心"欧盟应对欧元区主权债务危机的政策措施及对中国的启示"（scueu-gbqy2015-6)、四川大学中央高校基本科研业务费区域与国别研究专项项目"欧盟应对主权债务危机的政策措施及对中国的启示"（skzx2015-gb70)、四川大学中央高校基本科研业务费项目"欧盟经济治理与欧洲一体化发展对中国的启示：理论与实践"（Skyb201602)。

摘　　要：本文认为欧洲中央银行在应对2008年以来危机，特别是欧元区主权债务危机中出现了两个突破性发展：一是实施了购买欧元区国家主权债务这类"非常规"措施；二是正逐步建立起一个由欧洲中央银行领导的银行联盟。前者与欧洲中央银行原本的法规章程相违背，但也展现了欧洲中央银行作为一个独立实体在新形势下为解决危机实施货币政策的创新性和灵活性；后者的建立则要求欧元区成员国进一步让渡国家主权至欧洲中央银行这一超国家机构，这无疑是欧洲经济与货币联盟发展的又一个里程碑，这也表明危机不仅带来挑战，同时也推动和加深了欧洲一体化的进程与水平。This paper proposes that there are two breakthroughs of the European Central Bank(ECB)in its dealing with the crisis since 2008,particularly the euro area sovereign debt crisis.First,the ECB has implemented what is called“non-standard measures”,such as purchasing sovereign bonds of the Eurozone countries;second,an integrated“banking union”under the ECB leadership is forming step by step.The former,purchasing sovereign bonds,is against the original statutory rules of the ECB,which nevertheless exhibits the innovation and flexibility of the ECB so as to resolve the crisis,as being a fully independent institution implementing its monetary policies under new circumstances.In comparison,the latter,establishing the bank union,requires further pooling of national sovereignty of the Eurozone countries to the supranational institution ECB,which is definitely another milestone for the development of European Economic and Monetary Union.The formation of the bank union shows that the crisis not only has brought challenges,but also promoted the process of as well as deepened the level of European integration.

关 键 词：欧洲中央银行 欧元区主权债务危机 购买主权债券 "非常规"措施 银行联盟 

分 类 号：F825[经济管理—财政学]