欧洲要面对三重挑战：主权偿付能力、资本流动问题和银行业危机的影响，故此，欧元区在压力之下不得不对欧洲货币联盟（EMU）的制度性缺陷采取更为果断的措施。本文回顾了欧洲从临时措施向全方位政策路径（包括当国家身处困境时的救助机制）转变的轨迹，包括对ECB的角色以及成员国的利益博弈的评价。同时，本文也将详细考察欧盟在银行危机方面的国家援助和资本重组政策。此外，德国联邦宪法法院对EMU的法理的深入研究，意在增强成员国和欧盟之间权力博弈的意识。
Europe has to face the triple challenge of sovereign solvency and liquidity problems and the repercussions of the banking crisis.The Euro zone is pressurised into taking more decisive action on the institutional deficiencies of the European Monetary Union（EMU）.This paper reviews the European trajectory from makeshift to more comprehensive strategies with rescue mechanisms for countries in distress，including an assessment of the role of the European Central Bank and the conflicting interests of the Member States.With respect to the banking crisis the EU’s policies on State aids and recapitalisation are scrutinised. A section on the jurisprudence of the German Federal Constitutional Court on EMU is to sharpen the awareness for the stakes in the power play between the nation states and the European Union.
| Keywords： | The EuroAidDebtBankMember Country |
