Calm economic waters had given the ECB and Trichet a honeymoon until last fall. But, with financial markets now in turmoil and likely to stay that way, the time has come for the ECB to jettison its use of code words – a poor substitute for real central bank transparency in any case.
直到去年秋天之前都波澜不兴的平静经济环境给了ECB和特里谢一段蜜月期。但随着金融市场现在陷入动荡并会继续如此，ECB必须抛弃其暗号体系—它在任何情况下都是真正的央行透明度的蹩脚替代品。