How the euro would be able to depreciate, given that it is a floating currency with very little intervention – that is, the exchange rate is largely market determined – depends on monetary policy. If the ECB agreed to loosen monetary policy or provide enough “liquidity” to support various bailouts, investors would fear inflation, weakening the euro.
欧元是一种自由浮动货币，很少会被干预——也就是说，其汇率是由市场决定的——如何让它贬值取决于货币政策。如果欧洲央行同意放松银根，提供足够“流动性”以支持各种各样的援助计划，那么投资者会担心通胀，从而欧元会走弱。另一方面，如果欧洲央行更想让主要国家（如意大利）对其债务违约，那么欧元可能会进一步贬值，因为投资者会担心违约将蔓延。