欧元区的危机应对政策

Abstract:Europe has to face the triple challenge of sovereign solvency and liquidity problems and the repercussions of the banking crisis.The Euro zone is pressurised into taking more decisive action on the institutional deficiencies of the European Monetary Union（EMU）.This paper reviews the European trajectory from makeshift to more comprehensive strategies with rescue mechanisms for countries in distress，including an assessment of the role of the European Central Bank and the conflicting interests of the Member States.With respect to the banking crisis the EU’s policies on State aids and recapitalisation are scrutinised. A section on the jurisprudence of the German Federal Constitutional Court on EMU is to sharpen the awareness for the stakes in the power play between the nation states and the European Union.

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