Moreover, they do not pose moral-hazard issues (unless one thinks of the long-term moral hazard that the “exorbitant privilege” of printing the world’s international currency creates for US fiscal policy). Finally, ECB purchases of dollars would help push down the euro’s exchange rate against the dollar.
首先，这样做不存在法律障碍。外汇市场操作在欧洲央行的权限范围内。此外，这样做也不会有道德风险（除非你考虑印刷世界国际储备货币的“过度特权”给美国财政政策造成的长期道德风险。）最后，欧洲央行购买美元有助于欧元对美元贬值。