由 Jana Randow 编写欧洲最近的债券抛售是一个“明显的警告信号”，表明投资者对政府控制债务的努力感到紧张，这是德国顶级央行官员之一的说法。
Europe’s most recent bond selloff is a “clear warning sign” that investors are getting nervous about governments’ efforts to rein in debt, according to one of Germany’s top central bankers.
“当前的发展 — — 您提到了法国，但我们也在关注美国 — — 表明财政和政治不确定性可能影响政府债券市场，”德国联邦银行执行委员会成员迈克尔·图雷尔在接受Deutschlandfunk采访时表示。“目前尚未出现系统性主权债务危机，但风险已经显著增加。”法国因对其政治和经济挑战的担忧加剧，债券市场出现抛售。这种动荡已经蔓延到其他负债累累的欧元区国家，引发人们对欧洲央行可能最终需要介入以遏制后果的猜测。
“Current developments — you mentioned France, but we’re also looking at the US — show that fiscal and political uncertainty can affect government bond markets,” Bundesbank Executive Board member Michael Theurer said in an interview with Deutschlandfunk. “There is currently no systemic sovereign debt crisis, but the risks have increased significantly.”France has been hit by a rout in bond markets as concerns mount over its political and economic challenges. The turmoil has spread to other heavily indebted euro-area nations, fueling speculation that the European Central Bank may eventually have to intervene to contain the fallout.
图雷尔认为，法国和欧元区其他地区的决策者似乎“充分意识到其中的利害关系”。法国财政部长罗兰·莱斯克尔的预算计划通过430亿欧元（约合482亿美元）的措施来降低赤字并安抚投资者。在意大利，政府在对预算的晚期调整中削减了国防开支，以期缩小赤字。
Theurer argued that decision makers in France and across the euro zone seem to be “well aware of what is at stake.”French Finance Minister Roland Lescure’s budget envisages €43 billion ($48.2 billion) in measures to bring down the deficit and appease investors. In Italy, the government pared back defense spending in a late change to its budget as it seeks to narrow the shortfall.
“现在不是讨论欧洲央行的时候，”图雷尔说。“我们没有看到金融市场出现可能证明欧洲央行干预正当性的根本不可持续趋势的迹象。”他重申了本周国际货币基金组织总裁克里斯塔利娜·格奥尔基耶娃的呼吁，即各国政府应紧急行动，应对包括创纪录债务水平在内的挑战。她在接受彭博电视台采访时表示，由于新冠肺炎疫情以及乌克兰和中东战争后的支出增加，一些国家已经“脱离安全区”。
“Now is not the right time to discuss the ECB,” said Theurer. “We see no signs of a fundamentally unsustainable trend in the financial markets that could justify ECB intervention.”He reiterated an appeal made this week by Kristalina Georgieva, the International Monetary Fund’s managing director, for governments to act urgently to address challenges including record debt piles. Increased spending following the Covid-19 pandemic and the wars in Ukraine and the Middle East have pushed some nations “out of the safe zone,” she said in a Bloomberg Television interview.
正如国际货币基金组织所主张的那样，德国联邦银行也呼吁制定中期战略，审查支出并将资金集中于促进增长的投资上。
Just like the IMF, then Bundesbank has also called for a medium-term strategy that scrutinizes expenditures and focuses spending on growth-promoting investments.
“这正是德国联邦银行的建议，”特雷尔说。“与欧洲乃至世界其他国家相比，德国的财政状况要好得多，但我们也面临债务上升的问题，因此应当紧急推进财政紧缩。”
“This is precisely the recommendation of the Bundesbank,” Theurer said. “Germany is in a significantly better fiscal position than other countries in Europe and around the world, but we, too, have rising debt and should therefore urgently move toward fiscal consolidation.”