This is an extremely negative development ­– and one of the central bank’s biggest challenges for 2006. Not only will politicians’ influence be towards monetary excess, which of course is a serious enough matter for a bank whose primary mandate is price stability, but also the excess will constitute a serious barrier to structural reform, which is essential for European prosperity in a competitive global economy.
这是一种极为负面的情况—也是欧洲央行2006年的最大挑战。政客们的影响不仅可能造成货币过剩，而这对于一家以价格稳定为第一要务的中央银行而言是非常严重的。这种过剩还会严重阻碍结构性改革。而这一改革对于欧洲在充满竞争的全球经济中的繁荣至关重要。