It is now clear that the ECB itself has caused a large part of the capital flight from countries like Spain and Italy, because the cheap credit that it offered drove away private capital. The purpose of the ECB’s measures was to re-establish confidence and bring about a recovery of the inter-bank market.
现在看来，显然欧洲央行自身压实资本从西班牙和意大利等国大量外逃的一大原因，因为它所提供的廉价信用驱走了私人资本。欧洲央行行动的初衷是重塑信心并让银行间市场复苏。但这个目的同样没有达到，尽管它抛出了巨额资金。