In the first place, it is becoming an institution concerned with state debt, particularly with its term structure, and with ensuring that the market for that debt continues to operate smoothly, without episodes of breakdown and panic. Second, it has become clear that, whether they like it or not, central banks bear major responsibility for financial-sector stability.
换句话说，在危机面前，欧洲央行需要更像较古老的央行那样有所作为。首先，它正逐渐成为一个关注国家债务，尤其是其期限结构的机构，致力于保证该债务市场继续运营顺利，不出现崩溃和恐慌事件。其次，有一点已经日益明朗，不管他们喜欢与否，央行都要为金融部门的稳定承担主要责任。