In 2011, Europe’s publicly traded firms had an estimated €750 billion in cash sitting on their balance sheets, equivalent to twice the decline in private-sector investment in the EU from 2007 to 2011. But, despite the dire state of public finances, the desperate need for growth and jobs, and historically low interest rates, the authorities are doing nothing to encourage investment.
问题不在于缺少投资资本。2011年，欧洲上市公司资产负债表上的现金数量可达7 500亿欧元，相当于2007—2011年欧盟私人部门投资减少程度的两倍。但是，尽管公共财政情况惨淡、对增长和就业的需要紧迫、利率也维持在历史低位，但当局却没有采取措施鼓励投资。