各信用評級機構受法國央行行長批評

2011年12月16日 07:14 AM
法國央行行長：英國才應被降級
Rating agencies under fire from Paris
英國《金融時報》 喬治•帕克倫敦, 詹姆斯•麥金托什, 彼得•施皮格爾布魯塞爾, 休•卡內基巴黎報導


The governor of France's central bank attacked credit rating agencies yesterday, calling them “incomprehensible and irrational” as Paris braces for a potential downgrade of the country's triple A status.


法國央行行長昨天批評信用評級機構，稱它們“不可理喻且不理性”。目前法國正面對失去3A評級的可能性。

Christian Noyer, head of the Bank of France, said a French downgrade would not be justified on economic fundamentals. On that basis, he added, the agencies should begin by downgrading the triple A rating of Britain, which “has bigger deficits, more debt , higher inflation, less growth than us and where credit is shrinking”.


法國央行(Bank of France)行長克里斯蒂安•諾亞(Christian Noyer)表示，從經濟基本面來看，降低法國評級是沒有根據的。他補充道，從經濟基本面考慮，評級機構應該首先降低英國的3A評級，因為與法國相比，英國“有更高的赤字、債務和通脹，更低的增長，且信貸正在萎縮”。

“We have put in place credible plans for dealing with our deficit – the credibility of our plan can be seen in what happened with the interest rates on our bonds,” said a spokesman for David Cameron, UK prime minister. “The markets clearly don 't agree with Noyer,” added a UK Treasury official. Privately British officials were astonished by the remarks.


“我們已經為對付赤字制定了可信的計劃——其可信度體現在我國債券利率的走勢上，”英國首相戴維•卡梅倫(David Cameron)的發言人表示。 “市場顯然不同意諾亞的觀點，”英國財政部(UK Treasury)一名官員補充道。私下里，英國官員對諾亞的言論感到錯愕。

Despite tensions, Britain, which last week vetoed a new European Union treaty for all 27 member nations, has been given observer status at talks on a new eurozone fiscal treaty.


儘管存在緊張，但上週對歐盟(EU)27個成員國新條約投下否決票的英國，在關於歐元區新財政條約的談判中，仍得到觀察員資格。

UK Treasury officials say the aim is to “police” the talks to ensure that any issues affecting the single market or London's financial industry are discussed by all 27 member states, but Britain will have no formal role in shaping the new treaty.


英國財政部官員表示，英方力求“監督”談判，以確保任何影響單一市場或倫敦金​​融業的問題，都得到所有27個成員國的討論，但英國在新條約的製定中將沒有正式角色。

Mr Cameron has said he will look with an “open mind” at whether the European Commission and European Court of Justice should be allowed to give the new eurozone fiscal compact teeth. Britain wants to ensure that the EU institutions continue to protect the interests of all 27 member states.


卡梅倫已經表態，他將以“開放的心態”考慮，是否應該允許歐盟委員會(European Commission)和歐洲法院(European Court of Justice)使歐元區新的財政協定具有約束力。英國希望確保歐盟機構繼續保護所有27個成員國的利益。

Separately, a draft prospectus prepared for the eurozone bail-out fund includes investor warnings that the euro could break apart or cease to be a “lawful currency” entirely.


另外，一份為歐元區紓困基金擬定的說明書草案含有針對投資者的警告，稱歐元可能解體，或者完全失去“法定貨幣”的地位。

The European Financial Stability Facility, which is creating the products to insure bonds of troubled states against default, is debating whether the “risk factors” should be included in the final version. In the latest draft, a summary of the dangers includes “risks arising from a Reference Sovereign ceasing to use the euro as its lawful currency . . . or the cessation of the euro as a lawful currency”.


歐洲金融穩定安排(EFSF)正在設計產品，以針對困境國家債券的違約風險提供保險。這只基金正在辯論是否應在最終版本中列入各種“風險因素”。最新版草案列出的風險包括：“由於相關主權國家停止使用歐元作為法定貨幣……即歐元失去法定貨幣地位，而產生的風險”。

Europe's leaders have insisted a euro break-up is unthinkable but last month France's Nicolas Sarkozy and Germany's Angela Merkel accepted that Greece might leave. “If you put something like this in the prospectus you must consider what possible signal effect it has,” said one European official.


歐洲領導人一直堅稱，歐元解體是不堪設想的，但上月法國總統尼古拉•薩科齊(Nicolas Sarkozy)和德國總理安格拉•默克爾(Angela Merkel)承認，希臘可能會退出。 “如果你在說明書中包含這類內容，你必須考慮它可能產生的信號效應，”一位歐洲官員表示。



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