Markets rose sharply on news of European leaders reaching an agreement vital to solve the region's huge debt crisis. The deal is aimed at preventing the crisis spreading to larger eurozone economies like Italy, but analysts say more detail is needed if the crisis is to be contained.
Two years of crisis in the eurozone came down to this Brussels summit.
欧元区两年来的危机全都摆到了这次峰会的桌面上。
Europe’s leaders met through the night. After 11 hours of talks - with many journalists sleeping in the press room - German Chancellor Angela Merkel was among the leaders to emerge hailing a breakthrough.
欧洲领导人挑灯夜战，开了11个小时的会，他们的重任是挽救欧元。
“I am aware, and everybody was aware that the whole world was looking at this meeting,” she said. “That we can show the world how we can guard ourselves from this deep economic crisis. And I think that tonight we Europeans have taken the right measures.”
德国总理默克尔说：“我意识到，每个人都意识到，全世界都在注视着这次会议。我们能够向世界显示，我们可以保护自身不受这场深重的经济危机的打击。我认为，今夜我们欧洲人采取了正确的措施。”
Global markets agreed. Share indices across Europe, Asia and the United States all showed early gains Thursday.
全球市场都和她的看法一致。欧洲、亚洲和美国各地的股市星期四早晨皆呈上扬趋势。
But the optimism may be short-lived, says Tobias Blattner, European economist at Daiwa Capital Markets.
不过，大和资本市场公司的托比阿斯·布拉特纳说，这种乐观或许维持不了多久。
“Now the question is obviously, ‘How long will it last?’ And I think this is where we are skeptical and we think it will be a very short-lived episode simply because the summit yesterday left too many questions open," said Blattner.
他说：“现在的问题很明显：它会持续多久？我们对此持怀疑观点，我们认为好景不长，原因很简单，昨天的峰会留下了太多没有解答的问题。”
Eurozone leaders agreed a three-pronged approach.
欧洲领导人同意采取三管齐下的策略。
Banks will be recapitalized with 100 billion euros. Greece’s debtors will be asked to write-off half of the debts, and the European bailout fund will be ‘leveraged up’ to about a trillion euros to try to cover other indebted countries like Italy or Spain.
各银行将以1000亿欧元进行资本重组。希腊的债权方将被要求勾销一半的债务。希腊是这次债务危机的震中。同时，欧洲救援基金将通过杠杆化扩充到大约1万亿欧元，以保护意大利和西班牙等其它债台高筑的国家。
Not good enough, says Simon Tilford, chief economist at analyst group the Center for European Reform.
分析机构欧洲改革中心的首席经济师西蒙·蒂尔福德说，这些措施还不够。
“There is no new money involved," said Tilford. "What they are essentially saying is that we will cover a proportion of your losses if these countries get into funding difficulties. Now the question is whether that will be enough to persuade investors to lend to countries. It is not clear it will be.”
蒂尔福德说：“并没有投入新的资金。我们做的实际上是说，如果这些国家陷入资金困难，我们会涵盖你们的部分损失。现在的问题是，这是不是足以说服投资者把钱借给这些国家？这点不能肯定。”
In Greece, which faces years of austerity cutbacks under the bailout, reaction was despondent.
按照救援方案，希腊要面临多年的节衣缩食。希腊人听到协议后垂头丧气。
One man said, "I do not believe it was a good deal, but it was inevitable. At this moment, Greece has gone bankrupt."
一位希腊年轻人说：“我不认为这是好协议。可这是避免不了的。如今，希腊已经破产了。”
Another man added, "It is a dark and shady deal. Everything here gets worse by the day. God help us."
一位年纪稍大的希腊男士说：“这是一个黑暗龌龊的协议。日子一天不如一天了。上帝保佑我们吧。”
Investors’ concern is turning to Italy. Debt in the eurozone’s third-biggest economy is 120 percent of GDP.
投资者的目光转向了欧元区第三大经济体意大利。意大利的债务是GDP的120%。
In Rome, the deal was greeted with skepticism.
在罗马，人们对协议心存怀疑。
"I think it all stems from the fact that we are not credible anymore,” one commuter said.
一位意大利男士说：“我认为这一切的根子在于：我们已经丧失信誉了。”
“I do not think this government is capable of managing this crisis situation,” said another.
另一位意大利男士说：“我不认为本届政府有能力处理眼下的危机。”
In a week, many of the European leaders will reassemble at the G20 summit in France. There, analysts say Europe will look for international support from countries like China to help bolster the debt deal.
一个星期后，很多欧洲领导人将再度聚首，出席在法国召开的20国集团峰会。分析人士说，欧洲届时将寻求国际支援，包括请拥有巨额资本盈余的中国为救援基金出资。 |