{"id":3304,"date":"2012-04-03T01:11:00","date_gmt":"2012-04-02T17:11:00","guid":{"rendered":"http:\/\/ec.moneydj.com\/joe\/?p=3304"},"modified":"2014-07-18T17:25:20","modified_gmt":"2014-07-18T09:25:20","slug":"%e4%ba%ba%e5%8f%a3%e7%b4%85%e5%88%a9%e6%9c%ab%e6%9c%9f%e7%9a%84%e8%a5%bf%e7%8f%ad%e7%89%99","status":"publish","type":"post","link":"https:\/\/blog.moneydj.com\/joe\/2012\/04\/03\/%e4%ba%ba%e5%8f%a3%e7%b4%85%e5%88%a9%e6%9c%ab%e6%9c%9f%e7%9a%84%e8%a5%bf%e7%8f%ad%e7%89%99\/","title":{"rendered":"\u4eba\u53e3\u7d05\u5229\u672b\u671f\u7684\u897f\u73ed\u7259"},"content":{"rendered":"


\n2006~2008\u5e74\u662f\u897f\u73ed\u7259\u7d93\u6fdf\u958b\u59cb\u8d70\u5411\u8870\u9000\u7684\u958b\u59cb<\/font>\uff0c\u525b\u597d\u8ddf\u4eba\u53e3\u7d50\u69cb\u5dd4\u5cf0\u4e0d\u8b00\u800c\u5408<\/font>\uff0c1990\u5e74\u65e5\u672c\u30012008\u5e74\u7f8e\u570b\u548c\u4fc4\u7f85\u65af\u30012010\u5e74\u82f1\u570b\u548c\u6b50\u6d32<\/span><\/font><\/span>\uff0c\u9664\u4e86\u7f8e\u570b\u4ee5\u5916\uff0c\u5df2\u958b\u767c\u5148\u9032\u570b\u5bb6\u5148\u5f8c\u5728\u77ed\u6642\u9593\u5167\u9032\u5165\u4e86\u623f\u5730\u7522\u5d29\u76e4<\/span><\/font><\/span>\u548c\u7d93\u6fdf\u5927\u856d\u689d\uff0c\u5171\u540c\u56e0\u7d20\u90fd\u662f\u4eba\u53e3\u8ca0\u50b5\u7d50\u69cb\uff0c\u4e09\u5e74\u5167\uff0c\u53f0\u7063\u3001\u97d3\u570b\u3001<\/span><\/font><\/span>\u4e2d\u570b\uff0c\u8981\u9081\u5165\u6b77\u53f2\u4e0a\u7b2c\u4e00\u6b21\u7684\u4eba\u53e3\u8ca0\u50b5\u7d50\u69cb\uff0c\u4f60\u6e96\u5099\u597d\u4e86\u55ce\uff01<\/font>
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\n\u65b0\u805e\u4f86\u6e90http:\/\/news.cts.com.tw\/cnyes\/money\/201204\/201204030972159.html
\n<\/font><\/p>\n

\u3000\u3000\u5728\u897f\u73ed\u7259\u5317\u90e8\u5c0f\u93ae Reus \u6210\u9577\u7684 Easter Artells\uff0c\u6bcd\u89aa\u5728\u5979\u5c0f\u6642\u5019\u5c31\u544a\u8aa1\u5979\u8981\u7528\u529f\u52aa\u529b\u5ff5\u66f8\uff0c\u624d\u80fd\u64c1\u6709\u4e00\u500b\u7f8e\u597d\u5149\u660e\u7684\u672a\u4f86\u3002\u7136\u800c\u5c0d\u90a3\u7fa4\u8f9b\u82e6\u8015\u8018\u53d6\u5f97\u6f02\u4eae\u5b78\u6b77\u7684\u897f\u73ed\u7259\u9752\u5e74\u4eba\u800c\u8a00\uff0c\u4e8b\u5be6\u537b\u975e\u5982\u6b64\u3002<\/font><\/p>\n

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Artells \u4eca\u5e74 35 \u6b72\uff0c\u5979\u7684\u8077\u696d\u662f\u751f\u7269\u5b78\u5bb6\uff0c\u4f46\u570b\u5167\u5df2\u7d93\u6c92\u6709\u9069\u5408\u5979\u7684\u5de5\u4f5c\u6a5f\u6703\uff0c\u70ba\u4e86\u8993\u5f97\u597d\u5de5\u4f5c\uff0c\u5979\u4e00\u5b9a\u8981\u96e2\u9109\u80cc\u666f\u51fa\u570b\u8cfa\u3002Artells \u8868\u793a\uff0c\u5728\u5979\u7814\u7a76\u8ad6\u6587\u5b8c\u6210\u90a3\u4e00\u523b\uff0c\u5979\u5c31\u958b\u59cb\u6253\u5305\u884c\u56ca\u524d\u5f80\u5916\u5730\u6c42\u8077\uff0c\u6700\u5f8c\u5979\u5728\u6cd5\u570b\u7684 Aix-Marseille \u5927\u5b78\u627e\u5230\u7814\u7a76\u4eba\u54e1\u4e00\u8077\u3002<\/font><\/p>\n

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27 \u500b\u6b50\u5143\u5340\u6210\u54e1\u570b\u7684\u653f\u5e9c\uff0c\u5168\u90e8\u63a1\u53d6\u8ca1\u653f\u7dca\u7e2e\u63aa\u65bd\uff0c\u4e00\u5171\u524a\u6e1b\u6389 4500 \u5104\u6b50\u5143\uff086000 \u5104\u7f8e\u5143\uff09\u7684\u653f\u5e9c\u652f\u51fa\u3002\u82f1\u570b\u502b\u6566\u7684\u7814\u7a76\u6a5f\u69cb Lombard Street Research \u7814\u7a76\u90e8\u7e3d\u76e3 Gabriel Stein \u6307\u51fa\uff0c\u897f\u6b50\u793e\u6703\u96e3\u7e7c\u7e8c\u4ee5\u5f80\u7684\u793e\u798f\u653f\u7b56\uff0c\u9019\u4e9b\u653f\u5e9c\u60f3\u76e1\u8fa6\u6cd5\u5728\u516c\u5171\u90e8\u9580\u7e2e\u8863\u7bc0\u98df\uff0c\u4f46\u9019\u5df2\u5230\u4e86\u6975\u9650\u3002<\/font><\/p>\n

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\u64da\u570b\u969b\u52de\u5de5\u7d44\u7e54\u7684\u7d71\u8a08\uff0c2011 \u5e74\u5e95\u897f\u73ed\u7259\u570b\u5167 25 \u6b72\u4ee5\u4e0b\u9752\u5e74\u5931\u696d\u7387\u9ad8\u9054 49%\uff0c\u662f\u70ba\u5168\u7403\u9752\u5e74\u5931\u696d\u7387\u6700\u9ad8\u7684\u570b\u5bb6\u4e4b\u4e00\u3002\u5168\u570b\u5931\u696d\u7387\u5247\u662f 23%\uff0c\u8207\u5e0c\u81d8\u65d7\u9f13\u76f8\u7576\u3002\u53bb\u5e74\u4e00\u4efd\u6b50\u76df\u5167\u90e8\u7684\u8abf\u67e5\u986f\u793a\uff0c\u897f\u73ed\u7259\u5e74\u8f15\u4eba\u7576\u4e2d\u6709 68% \u5de6\u53f3\u6b63\u8003\u616e\u51fa\u570b\u627e\u5de5\u4f5c\u3002<\/font><\/p>\n

\u897f\u73ed\u7259\u73fe\u4efb\u7e3d\u7406 Mariano Rajoy \u5728\u6700\u8fd1\u4e00\u6b21\u6f14\u8b1b\u7576\u4e2d\u6c88\u75db\u5730\u8aaa\u9053\uff1a\uff62\u6211\u5011\u8981\u5982\u4f55\u5411\u9019\u7fa4\u5e74\u8f15\u4eba\u7684\u7236\u6bcd\u89e3\u91cb\uff0c\u73fe\u5728\u7684\u7d93\u6fdf\u60c5\u6cc1\u6703\u6bd4\u4f5b\u6717\u54e5\u5c07\u8ecd\u7d71\u6cbb\u6642\u4ee3\u9084\u7cdf\u7cd5\uff0c\u800c\u4ed6\u5011\u7684\u5b69\u5b50\u9762\u81e8\u4e00\u500b\u6bd4\u4ed6\u5011\u7236\u6bcd\u904e\u53bb\u7d93\u6b77\u9084\u8981\u56b4\u5cfb\u7684\u5c31\u696d\u5e02\u5834\u3002\uff63<\/font><\/p>\n

Artells \u5728\u897f\u73ed\u7259\u7368\u88c1\u8005\u4f5b\u6717\u54e5\u5c07\u8ecd\u6b7b\u5f8c\u51fa\u751f\uff0c\u5979\u7684\u6bcd\u89aa\u8b58\u5b57\u4e0d\u591a\uff0c\u505a\u7684\u5de5\u4f5c\u6709\u4fdd\u59c6\u548c\u5bb6\u4e8b\u6e05\u6f54\u3002\u4f5b\u6717\u54e5\u6642\u4ee3\u7684\u7d93\u6fdf\u4ee5\u8fb2\u696d\u8207\u89c0\u5149\u70ba\u4e3b\uff0c\u7136\u800c\u5728\u4ed6\u6b7b\u5f8c\u570b\u5167\u7d93\u6fdf\u91cd\u5fc3\u6539\u8b8a\uff0c\u570b\u5bb6\u8f49\u5411\u8207\u6b50\u6d32\u5176\u4ed6\u570b\u5bb6\u5efa\u7acb\u66f4\u7dca\u5bc6\u7684\u8cbf\u6613\u95dc\u4fc2\uff0c\u4e26\u5f9e\u5979\u5317\u908a\u7684\u9130\u570b\u53d6\u5f97\u7d93\u6fdf\u63f4\u52a9\u3002\u5728\u904e\u53bb 30 \u5e74\uff0c\u897f\u73ed\u7259\u6210\u529f\u50ac\u751f\u51fa\u4e00\u4e9b\u5728\u6b50\u6d32\u898f\u6a21\u6578\u4e00\u6578\u4e8c\u7684\u5927\u9280\u884c\u3001\u96fb\u4fe1\u96c6\u5718\u3001\u4ee5\u53ca\u71df\u5efa\u516c\u53f8\u3002<\/font><\/p>\n

Artells \u5728\u5927\u5b78\u6642\u671f\u66fe\u517c\u5dee\u8cfa\u53d6\u751f\u6d3b\u8cbb\uff0c\u5979\u5728\u53bb\u5e74 7 \u6708\u9806\u5229\u5b8c\u6210\u535a\u58eb\u8ad6\u6587\u3002\u5979\u82e5\u7559\u5728\u897f\u73ed\u7259\u5de5\u4f5c\uff0c\u9078\u64c7\u65e2\u5c11\u4e14\u7121\u6cd5\u5b78\u4ee5\u81f4\u7528\uff0c\u5982\u5be6\u9a57\u5ba4\u6280\u5e2b\u3001\u85e5\u5ee0\u6216\u5316\u5b78\u54c1\u516c\u53f8\u92b7\u552e\u696d\u52d9\u3002\u6b64\u5916\uff0cArtells \u5728\u5927\u5b78\u7562\u696d\u5f8c\u66fe\u65bc\u6cd5\u570b\u5357\u90e8\u4e00\u6240\u5927\u5b78\u64d4\u4efb\u7814\u7a76\u9226\u548c\u9230\u6bd2\u6027\u4e4b\u5948\u7c73\u9846\u7c92\u7684\u52a9\u7406\u5de5\u4f5c\u3002\u540c\u6a23\u6027\u8cea\u7684\u5de5\u4f5c\u5728\u897f\u73ed\u7259\u85aa\u6c34\u4f4e\u5f88\u591a\uff0c\u5018\u82e5\u771f\u6709\u958b\u653e\u9019\u985e\u7684\u8077\u7f3a\u3002<\/font><\/p>\n

Artells \u7121\u5948\u8aaa\u9053\uff0c\uff62\u6211\u4e0d\u77e5\u9053\u4eca\u65e5\u4e8b\u60c5\u600e\u6703\u6f14\u8b8a\u6210\u9019\u6a23\u7684\u5730\u6b65\uff0c\u6211\u8a8d\u771f\u52aa\u529b\u6c42\u5f97\u5b78\u4f4d\u4e26\u5728\u5c08\u696d\u4e0a\u7cbe\u9032\uff0c\u4f46\u73fe\u5728\u897f\u73ed\u7259\u570b\u5167\u6211\u627e\u4e0d\u5230\u5408\u9069\u7684\u8077\u7f3a\uff0c\u5e02\u5834\u4e0a\u91cb\u51fa\u7684\u5de5\u4f5c\u8207\u6211\u6240\u5b78\u4eb3\u7121\u95dc\u4fc2\uff0c\u6211\u7121\u6cd5\u5b78\u4ee5\u81f4\u7528\uff0c\u6211\u7684\u5c08\u696d\u5e6b\u4e0d\u4e0a\u5fd9\u3002\u51fa\u570b\u5c31\u696d\uff0c\u662f\u552f\u4e00\u7684\u9078\u64c7\u3002\uff63<\/font><\/p>\n

\u5168\u7403\u91d1\u878d\u7814\u7a76\u6a5f\u69cb BBVA Research \u9996\u5e2d\u7d93\u6fdf\u5b78\u5bb6 Rafael Doménech \u904e\u53bb\u66fe\u6307\u51fa\uff0c\u897f\u73ed\u7259\u61c9\u6709\u4e00\u5957\u8a08\u756b\uff0c\u5728\u7d93\u6fdf\u5fa9\u7526\u597d\u8f49\u524d\uff0c\u5148\u70ba\u7814\u7a76\u54e1\u63d0\u4f9b\u8077\u8a13\u4ee5\u7b26\u5408\u570b\u5167\u7522\u696d\u6240\u9700\uff0c\u7136\u5f8c\u9032\u5165\u7522\u696d\u5de5\u4f5c\uff1b\u7136\u800c\u76ee\u524d\u653f\u5e9c\u672a\u6709\u76f8\u95dc\u914d\u5957\u63aa\u65bd\u3002\u53e6\u5916\uff0c\u4ee5\u897f\u73ed\u7259\u76ee\u524d\u7684\u7d93\u6fdf\u9ad4\u8cea\u8207\u7522\u696d\u7d50\u69cb\u4f86\u770b\uff0c\u570b\u5167\u77e5\u8b58\u5bc6\u96c6\u8207\u5177\u5c08\u624d\u7684\u52de\u5de5\u9700\u6c42\u5df2\u98fd\u548c\uff0c\u56e0\u70ba\u897f\u73ed\u7259\u570b\u5167\u4f01\u696d\u591a\u4ee5\u4e2d\u5c0f\u578b\u898f\u6a21\u70ba\u4e3b\uff0c\u800c\u50cf\u96fb\u4fe1\u696d\u5de8\u64d8 Telefónica\uff08TEF-SM\uff09\u8207\u897f\u73ed\u7259\u570b\u969b\u9280\u884c Banco Santander\uff08SAN-SM\uff09\u7684\u5927\u578b\u4f01\u696d\u5c11\u4e4b\u53c8\u5c11\u3002<\/font><\/p>\n

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\u73fe\u5728\u897f\u73ed\u7259\u7e3d\u7406 Rajoy \u8981\u6539\u8b8a\u570b\u5167\u7d93\u6fdf\u74b0\u5883\u7684\u5f85\u8fa6\u4efb\u52d9\u5f88\u591a\uff0c\u4f46\u4ed6\u7684\u6642\u9593\u6709\u9650\uff0c\u5982\u4f55\u5728\u6975\u77ed\u7684\u6642\u9593\u5167\u8b93\u570b\u5167\u5c31\u696d\u5e02\u5834\u66f4\u5177\u5f48\u6027\u3001\u4e26\u6539\u9020\u516c\u5171\u90e8\u9580\u4fbf\u6210\u4e00\u5927\u8003\u9a57\uff0c\u7d42\u6975\u76ee\u6a19\u52a9\u897f\u73ed\u7259\u64d4\u7576\u6b50\u5143\u5340\u6210\u54e1\u570b\u61c9\u6709\u7684\u8cac\u4efb\u3002\u9b6f\u6bd4\u5c3c\u5168\u7403\u7d93\u6fdf\u7814\u7a76\u6a5f\u69cb\uff08Roubini Global Economics\uff09\u6b50\u6d32\u4e3b\u7ba1 Megan Greene \u8868\u793a\uff0c\u9019\u4e9b\u570b\u5bb6\u6c92\u6709\u7b2c\u4e8c\u6b21\u6a5f\u6703\uff0c\u570b\u5bb6\u6539\u9020\u662f\u4e00\u6bb5\u5f88\u9577\u7684\u8def\uff0c\u81f3\u65bc\u897f\u73ed\u7259\u80fd\u5426\u505a\u5230\u9084\u662f\u500b\u672a\u77e5\u6578\u3002\u4f46\u81f3\u5c11\u897f\u73ed\u7259\u81ea 2008 \u5e74\u5371\u6a5f\u958b\u59cb\u8513\u5ef6\u5f8c\u81f3\u53bb\u5e74\u5e95\u9019\u6bb5\u671f\u9593\uff0c\u51fa\u53e3\u5df2\u6210\u9577 12%\u3002<\/font><\/p>\n

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