It is thus a source of moral hazard, for it relieves pressure on spendthrift politicians to balance budgets and push ahead with reforms. In addition, it is seen as exposing the ECB’s principal shareholders, notably Germany, to the risk of losses on their holdings of southern European bonds.
但OMT计划也受到了抨击，认为它扩大了欧洲央行的权限。批评者认为这是一条不光彩的诡计，绕过了欧洲央行不能直接购买欧元区政府债券的禁令。因此，这会带来道恩风险，因为它将缓解挥霍无度的政客平衡预算、推进改革的压力。此外，批评者还认为它使欧洲央行大股东——特别是德国——有可能因为持有南欧债券而受损。