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>鉅亨網編譯許光吟 綜合外電

金融市場在週一早上開盤恐怕會下跌多少?高盛在上週預期:如果希臘公投拒絕歐盟的紓困案,歐洲主要指數恐將下跌 10% 左右。

10% 的下跌可能聽起來太多了。但任何預測似乎都是可能發生的。尤其最近的市場氛圍,又使市場想起 2008 年金融海嘯銀行業危機時的景象。

英國《衛報》報導認為,債市將是未來主要戰場。這是希臘脫歐影響最讓人擔憂的層面。如果希臘自己推出單一貨幣,投資人恐將不願意繼續持有背負沉重希臘債務的其他歐元區國家債券。而西班牙、義大利、葡萄牙、愛爾蘭這些國家的主權債務將會被密切關注是否會引發連鎖效應。

所有的目光現在都轉向歐洲央行,市場將觀察:

1.ECB 是否將立即切斷其對希臘銀行的支持?

2.ECB 是否會對債市進行干預,以保護其他歐元區國家的債券。

上週六,在希臘總理齊普拉斯號召人民上街公投前夕,歐洲央行與歐元區財長承諾:「如果需要,我們將會對債市出手。」

其完整聲明表示:「歐元區成員國將盡最大努力以維護歐元區的完整性及穩定性。歐洲央行將會採取獨立行動,執行其被成員國所委派的任務。」

歐洲央行在周一可能將再次重申這個立場一次,為要避免債市沉重的賣壓。如債市在周一表現相對穩定,歐洲央行可能會袖手旁觀。如債市不穩,ECB 國軍借貸將會入市購債,所購入的債券將作為歐洲央行 QE 資產購買計劃中的一部份。

如果在本周結束時,市場恐慌情況持續,歐洲央行與歐元財長可能會再次舉行會議討論應急措施。最重要的是,歐洲央行與歐元集團希望西班牙、義大利、葡萄牙在合理的價格持續正常的發行債券。且德國總理梅克爾及歐元區其他成員國在過去幾個月來已不斷的討論過希臘脫歐的可能性。皆認為歐元區是有足夠能力應付希臘的離去。是不是真的有能力應對?債券市場現在都在等著看。

可以確定的是歐元將會貶值。但或許貶幅不會太大。歐元在希臘付諸公投的這星期內表現相對穩定,在遠東地區的早盤交易中也只僅下跌 1%。

有一派說法認為:長期來看,希臘這個爛柿子被揀除之後,歐元將會變得更強。var LIGHTBOX_DARLA_CONFIG ={"useYAC":0,"usePE":0,"servicePath":"https:\/\/tw.news.yahoo.com\/__darla\/php\/fc.php","xservicePath":"","beaconPath":"https:\/\/tw.news.yahoo.com\/__darla\/php\/b.php","renderPath":"","allowFiF":false,"srenderPath":"https:\/\/s.yimg.com\/rq\/darla\/2-8-9\/html\/r-sf.html","renderFile":"https:\/\/s.yimg.com\/rq\/darla\/2-8-9\/html\/r-sf.html","sfbrenderPath":"https:\/\/s.yimg.com\/rq\/darla\/2-8-9\/html\/r-sf.html","msgPath":"https:\/\/tw.news.yahoo.com\/__darla\/2-8-9\/html\/msg.html","cscPath":"https:\/\/s.yimg.com\/rq\/darla\/2-8-9\/html\/r-csc.html","root":"__darla","edgeRoot":"https:\/\/s.yimg.com\/rq\/darla\/2-8-9","sedgeRoot":"https:\/\/s.yimg.com\/rq\/darla\/2-8-9","version":"2-8-9","tpbURI":"","hostFile":"https:\/\/s.yimg.com\/rq\/darla\/2-8-9\/js\/g-r-min.js","beaconsDisabled":true,"rotationTimingDisabled":true}var t_MediaGalleryBobaSpotlight_start = new Date().getTime();





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Greece's Prime Minister Alexis Tsipras, center, speaks to the media after voting at a polling station in Athens, Sunday, July 5, 2015. Greeks began voting early Sunday in a closely-watched, ... 較多Greece's Prime Minister Alexis Tsipras, center, speaks to the media after voting at a polling station in Athens, Sunday, July 5, 2015. Greeks began voting early Sunday in a closely-watched, closely-contested referendum, which the government pits as a choice over whether to defy the country's creditors and push for better repayment terms or essentially accept their terms, but which the opposition and many of the creditors paint as a choice between staying in the euro or leaving it. (AP Photo/Spyros Tsakiris) 較少









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Associated Press | 拍攝者 Spyros Tsakiris





2015年7月5日週日 台北標準時間下午4時09分





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