根据其前任首席官员马里奥·德拉吉的说法，欧洲央行不太可能在近期通过市场干预来帮助法国。
The European Central Bank is unlikely to step in any time soon with market intervention to help France, according to its former chief, Mario Draghi.
这位欧元区主权债务危机的老将周四在接受彭博社总编辑约翰·米克尔索斯采访时表示，该地区距离重演那次危机还很远，而且当前形势使得来自法兰克福的援助仍然遥不可及。
The veteran of the euro area’s sovereign debt crisis told Bloomberg Editor-in-Chief John Micklethwait on Thursday that the region is a long way from a repeat of that episode, and that circumstances make aid from Frankfurt still a distant prospect.
“门槛很高，”他在新德里新经济论坛上表示。“当时我们面临更多的通缩，或者说至少是通胀率刚刚高于零”以及“现在，通胀很高，而且在各种因素的叠加下还在上升。我认为这是欧洲央行的首要任务，也是其维持物价稳定的使命。”近年来几周，随着全球能源价格上涨以及人们对法国财政赤字膨胀的担忧叠加，法国成为市场密切关注的焦点，引发了投资者的担忧。
“The bar is high,” he said at the New Economy Forum in New Delhi. “We had more kind of a deflation, or at least inflation rates just above zero” and “now, inflation is high, and rising on top of everything. And I think that’s the first priority by the European Central Bank, which is its mandate to control price stability.”France became a focus of intense market scrutiny in recent weeks as higher global energy prices combined with worries centered on the country’s bloated deficits to spark investor concern.
虽然欧洲央行如今已经制定了一套更精细的工具来应对动荡，但德拉吉表示，巴黎的情况仍然使得政策制定者很可能保持观望。其中一个因素是，法国目前处于欧盟针对财政赤字过度扩大的监管机制之中。
While the ECB has now devised a more refined tool to counter turmoil, Draghi said the circumstances in Paris still make it probable that policymakers will stay on the sidelines. One factor is that the country is in the European Union’s monitoring regime for bloated budget shortfalls.
“并没有什么规定说，当一个国家处于过度赤字程序时，这些工具就不能被使用，”德拉吉说。“但当然，使用这些工具的门槛会稍高一些。”他补充道，关于法兰克福援助前景的本地辩论焦点也是另一个原因，这会让当地官员在行动前三思而后行。
“There is nothing that says that these instruments cannot be used when a country is under Excessive Deficit Procedure,” Draghi said. “But certainly the bar is a little higher for that use.”The focus of local debate on the prospect of aid from Frankfurt is another reason that would make officials there think twice before acting, he added.
德拉吉表示：“欧洲央行可能会或可能不会干预这一事实本身，已经成为了法国当今政治讨论中的一个论点、一个话题，如果说有什么不同的话，那就是这只会让干预变得更加困难。我认为，欧洲央行不希望卷入任何特定国家的政治内斗之中。”更广泛地说，德拉吉表示，当前的情况距离重演欧元区债务危机还有“很长的距离”。他在2011年底接掌欧洲央行，他在2012年7月承诺官员们将“不惜一切代价”维护欧元团结，这一表态最终标志着动荡开始平息。
“The very fact that the ECB might or might not intervene has become an argument, a topic of the political discussion in France today, and that if anything makes the interventions even more difficult,” Draghi said. “The ECB, I assume, doesn’t want to be part of the political infighting in any specific country.”More generally, Draghi said that the existing circumstances are a “long way” from becoming a repeat of the euro-area debt crisis. He took over the ECB in late 2011, and his pledge in July 2012 that officials would do “whatever it takes” to keep the euro together ultimately marked the moment when the turmoil began to subside.
当时的不同之处在于人们担心希腊伪造了其公共财政数据。德拉吉指出：“人们怀疑这只是为了符合加入欧元区要求而玩弄的花招。”
What was different back then was the worry that Greece had falsified its public-finance data. “People suspected that it was a trick just to comply with the requirements for entering the euro,” Draghi observed.
他说：“那再加上另一种财政挥霍的状况，引发了市场投机，而当时欧元的框架实际上并不具备应对这种情况的能力。当然，我们以前没有经验，我们没有工具。各国之间也没有达成关于如何应对的协议。”
“That, together with another situation of fiscal profligacy, unchained a market speculation, and the euro framework wasn’t actually equipped to deal with that,” he said. “We had no previous experience of course, we had no tools. We had no agreements across countries what to do.”