歐洲多國聯合反對財政緊縮政策

MILAN — With Europe once again rattling global markets, many of the largest European countries are now rebelling against the German gospel of belt-tightening and demanding more radical steps to reverse their slumping fortunes.

米蘭——歐洲再次令全球市場感到不安之時，很多歐洲大國開始反對德國實施財政緊縮的要求，要求採取更激進的舉措，來扭轉經濟低迷的趨勢。

One after another, European leaders arrived in Milan on Thursday for a summit meeting with their Asian counterparts, smiling for photographs despite gloomy financial news this week of stock markets tumbling and borrowing costs shooting up, especially in Greece, evoking memories of the euro crisis two years ago.

週四，歐洲領導人相繼抵達米蘭參加歐亞領導人峯會，他們面帶微笑拍照留念，儘管本週的財經新聞令人沮喪——股市暴跌、借貸成本劇增，特別是希臘，這種情況讓人想起了兩年前的歐元危機。

In past years, however, the eurozone nations buckled under to German demands to slash budget deficits and roll back public services, and then watched in dismay as unemployment rates shot into the double digits and growth collapsed. Now, France, Italy and the European Central Bank have coalesced into a bloc against Chancellor Angela Merkel of Germany, and they are insisting that Berlin change course.

但過去幾年中，歐元區國家屈從於德國提出的削減預算赤字，減少公共服務的要求，然後沮喪地看着失業率迅速升至兩位數，經濟出現衰退。如今，法國、意大利和歐洲央行(European Central Bank)已經形成對抗德國總理安格拉·默克爾(Angela Merkel)的聯盟，他們堅持要求柏林改變路線。

"We need to show that Europe is capable of investing in growth, and not only in rigor and austerity," said the Italian prime minister, Matteo Renzi, speaking to reporters outside the conference center after presiding over the opening of the meeting. He described the international financial situation as "very delicate" and said Europe had still not earned the confidence of international markets.

意大利總理馬泰奧·倫齊(Matteo Renzi)主持完會議開幕式後，在會議中心外對記者表示，“我們需要展示，歐洲能夠爲實現發展進行投資，而不僅僅是實施嚴格的緊縮政策。”他稱國際金融形勢“非常微妙”，並表示歐洲仍沒有贏得國際市場的信心。

"As the I.M.F. has said," he said, referring to the International Monetary Fund, "we need to focus on growth."

“就像IMF說的那樣，”他說。“我們需要關注經濟增長。”IMF指的是國際貨幣基金組織(International Monetary Fund)。

The divisions between Europe's leaders, at a moment when unity would seem critical, is one reason the markets are rattled — as well as the fact that policy makers still have not found a tool to revive growth in the face of staggering public debt.

在團結一直顯得非常重要的時刻，歐洲領導人之間出現了分歧，這是市場感到不安的一個原因。其他的原因還有，面對高到咋舌的公共債務，政策制定者仍然沒有找到重振經濟增長的方法。

The prospect of another European financial crisis can only bring an unwanted sense of discomfort for Washington and the rest of the world, given that China's economy is slowing, the American recovery remains fragile and the Ukrainian crisis remains unresolved. Financial investors who had seemingly forgotten about the European crises in 2008 and 2010 now again seem worried about the Continent's persistent lack of growth and the prospect of falling into a deflationary trap.

鑑於中國經濟正在放緩，美國的經濟復甦依舊脆弱，烏克蘭危機仍未解決，再爆發一場歐洲金融危機的可能性，只會給華盛頓及世界其他國家帶來厭倦不安的感覺。之前彷彿已經忘記2008年及2010年歐洲危機的金融投資者，現在再次對歐洲長期缺乏增長，甚至可能陷入通縮陷阱的情況感到擔憂。

"It is the third phase of the crisis," said Fran?ois Godement, an analyst at the European Council on Foreign Relations, a research organization.

研究機構歐洲對外關係委員會(European Council on Foreign Relations)的分析師弗朗索瓦·戈德芒(Fran?ois Godement)說，“目前是危機的第三階段。”

Politically and economically, Europe's central country remains Germany and its central figure remains Ms. Merkel, backed by Jens Weidmann, the head of the German central bank and long an advocate of monetary and fiscal discipline. Germany is the eurozone's biggest economic force, but it is now stumbling — even as its role as enforcer of austerity has made it a focus of fear, loathing and blame from some other European powers.

在政治和經濟上，德國仍是歐洲的核心國家，默克爾仍是歐洲的核心人物，她得到了德國央行行長延斯·魏德曼(Jens Weidmann)的支持。魏德曼長期以來一直推崇貨幣和財政紀律。德國是歐元區最大的經濟力量，但它現在也是步履蹣跚，儘管它因爲努力推行緊縮，但已經成了其他歐洲大國恐懼、厭惡、指責的目標。

France, which has in modern times been Germany's indispensable partner in European crisis management, is now in near revolt, and President Fran?ois Hollande has joined forces with Mr. Renzi, who has presented an expansionary 2015 budget that will cut taxes despite pressure from Brussels to meet deficit targets.

在現代，對於歐洲的危機管理，法國一直是德國不可或缺的夥伴。但現在，它似乎也要開始反抗了。法國總統弗朗索瓦·奧朗德(Fran?ois Hollande)站在了倫齊一邊。儘管布魯塞爾向其施壓，要求滿足赤字目標，但倫齊仍然拿出了一份擴張性的2015年度預算案，該預算將削減稅收。

Mario Draghi, the president of the European Central Bank, has pressed Germany to temper its insistence on budgetary discipline and to spend more on public works to stimulate the eurozone economy. The French have cheered him on. German leaders have resisted, while making clear their opposition to the more powerful stimulus measures that analysts expect the European Central Bank to deploy soon.

歐洲央行行長馬里奧·德拉吉(Mario Draghi)曾敦促德國緩和它對預算紀律的堅持，增加公共工程開支，從而刺激歐元區經濟。法國對德拉吉表達了鼓勵，但德國領導人卻並不同意。分析人士預期歐洲央行很快就會部署更加有力的刺激舉措，但德國對此明確提出了反對。

Mr. Weidmann has become increasingly alienated from other members of the European Central Bank's governing council in his refusal to countenance large-scale purchases of government bonds, the kind of stimulus that the Federal Reserve used to help revive the United States economy. Mr. Weidmann speaks for a large swath of the German public, and was once a close adviser to Ms. Merkel.

因爲拒絕支持大規模購買政府債券的做法，魏德曼在歐洲央行管理委員會中日趨孤立。美聯儲(Federal Reserve)曾通過這種購買政府債券的刺激措施，來複興美國經濟。魏德曼代表了一大部分德國公衆的意見，他還曾是默克爾的親密顧問。

The stock market rout that began Wednesday reflected a culmination of factors, including growing pessimism about Japanese and Chinese growth, the Ebola epidemic and conflict in the Middle East and Ukraine. But even after European and United States stock markets calmed on Thursday, investors registered their fear of a renewed crisis in the eurozone.

始於週三的股市重挫，反映了一系列因素的疊加，其中包括人們對日本和中國的經濟增長愈發悲觀的態度、埃博拉疫情，以及中東和烏克蘭的衝突。但是，即使在歐洲和美國股市於週四恢復平靜以後，投資者仍然擔心歐元區會爆發新一輪危機。

Greece's long-term borrowing costs rose to nearly 9 percent, from 7 percent on Wednesday, to reach the highest level since January. In a pattern that raised uncomfortable memories of the dark days of 2010, the bond sell-off in Greece quickly spread to other nations with debt and growth problems, including Portugal, Spain, Italy, and even Ireland.

週三，希臘的長期借貸成本從7%提高到了將近9%，達到了今年1月以來的最高水平。拋售希臘債券的趨勢很快蔓延到了葡萄牙、西班牙、意大利，甚至愛爾蘭等其他存在債務和增長問題的國家，這種情況讓人想起了2010年令人不安的晦暗景象。

Europe has already endured years of stagnation, high unemployment and a mounting public disillusionment that has fueled a political backlash, with right-wing, Euro-skeptic parties steadily gathering strength. In France, Mr. Hollande is suffering from rock-bottom poll numbers, while the right-wing National Front has gained ground. In Italy, Mr. Renzi remains popular, but anti-austerity sentiment is strong, especially resentment over budget cuts and a lack of growth.

數年來，歐洲經濟停滯、失業率高、公衆不滿情緒日益高漲，這對歐洲政治造成了很大影響，對歐洲一體化持懷疑態度的右翼政黨，勢力則開始穩步增加。在法國，奧朗德的支持率跌至谷底，右翼政黨國民陣線(National Front)的人氣則有所提升。倫齊在意大利仍然很受歡迎，但反緊縮情緒仍然很強烈，對削減預算和增長乏力的不滿尤爲強烈。

Yet there are small signs that a European reconciliation could be possible. The finance ministers of France and Germany will meet in Berlin on Monday to try to reassure citizens that they can continue to work together. And even as Ms. Merkel said on Thursday that there could be no exceptions to European Union rules on national deficit targets, according to Reuters, she had previously hinted at some wiggle room.

然而，仍有細微跡象表明，歐洲可能會實現和解。週一，法德兩國財長將在柏林會晤，意圖安撫民衆的情緒，表示兩國將繼續合作。儘管默克爾曾在週四表示，歐盟關於國家赤字目標的規定，沒有哪個國家能夠例外，但據路透社(Reuters)報道，她此前曾暗示這個問題上有一定的迴旋餘地。

During a recent speech to Parliament, she did not rule out measures to increase growth that would not conflict with her aim of achieving a balanced budget.

近期她在對議會發表講話時，並沒有排除採取一些與達到平衡預算的目標並不矛盾的舉措，來促進經濟增長。