ギリシャ再選挙 ユーロ離脱は避けられたが

The Yomiuri Shimbun (Jun. 20, 2012)
Greek poll outcome must be 1st step toward ending crisis
ギリシャ再選挙　ユーロ離脱は避けられたが（6月19日付・読売社説）

Parties calling for the maintenance of austerity policies expanded their support among voters in a Greek parliamentary election held Sunday, making it likely the country will avoid the worst-case scenario of a departure from the eurozone.
　ギリシャ議会の再選挙で、財政緊縮策の継続を主張した政党が支持を広げ、ユーロ圏離脱という最悪のシナリオは回避される方向になった。

This must serve as the first step toward ending the Greek turmoil and containing the European debt crisis.
　ギリシャの混乱を収束し、欧州危機を封じ込める一歩としなければならない。

Election results show the center-right New Democracy party gained the biggest number of seats, while center-left PASOK placed third. The two pro-austerity parties thus managed to acquire a parliamentary majority.
　再選挙の結果、中道右派の新民主主義党が第１党になり、同じく緊縮路線で第３党となった中道左派の全ギリシャ社会主義運動と合わせて、獲得議席は過半数に達した。

The anti-austerity radical left Syriza bloc came in second.
緊縮財政に反対する急進左派連合は第２党にとどまった。

If the Syriza bloc had won the election, the European Union would have almost certainly withheld financial support for Greece. If this led to the country's departure from the eurozone, it would have dealt a great blow to the world economy, including Japan.
　急進左派連合が勝利したなら、緊縮策の放棄によって欧州連合（ＥＵ）の支援が滞るのは確実だった。それでユーロ圏離脱が現実となれば、日本経済など世界経済に大打撃となったに違いない。

We applaud the Greek people for making a wise judgment at the eleventh hour. It is quite natural that finance ministers of the Group of Seven industrialized nations, including Japan and the United States, issued a statement that Greece staying in the eurozone while fulfilling its commitment to carry out fiscal austerity policies would be beneficial to all parties.
　ギリシャ国民が土壇場で賢明な判断を下したことは歓迎できる。日米など先進７か国（Ｇ７）財務相が、ギリシャに対し、緊縮財政の約束を順守しユーロ圏に残留することが「すべての利益になる」との声明を出したのは当然だ。

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Outlook still uncertain

But the prospects for the future remain unclear. The fact that stock price rebounds in Tokyo and other Asian markets and the buying back of the euro were limited indicates market skepticism about the possibility of Greece's economic rejuvenation.
　しかし、先行きは依然、不透明だ。東京とアジア市場の株価上昇やユーロの買い戻しが限定的だったのも、ギリシャ経済再生に対する市場の不信感を示す。

A host of challenges lie ahead. First, New Democracy must hold talks on the formation of a coalition government. It is necessary to establish as soon as possible a stable coalition government aimed at restoring fiscal health.
　課題は山積している。新民主主義党はまず連立協議を行い、財政健全化を目指す安定政権を早期に樹立する必要がある。

Taking into consideration the people's opposition to fiscal austerity policies, New Democracy told voters during the election campaign that it would again hold negotiations with the EU to reexamine bailout terms and pledged to push back the date targeted for fiscal reconstruction.
　選挙戦で新民主主義党は、国民の財政緊縮策への反発に配慮し、ＥＵと支援条件見直しの再交渉を行うと訴え、財政再建の達成目標時期の先送りを公約してきた。

But there is strong pressure from Germany and other eurozone countries for Greece to push through austerity and structural reform policies.
　ただしドイツを中心にＥＵ内には、ギリシャに緊縮財政と構造改革の断行を求める圧力が強い。

Simply tightening fiscal discipline will only invite a backlash from the people, making it impossible to open up new prospects. The Greek economy is expected to suffer continued negative growth. A sharp rise in runs on banks is amplifying financial unrest.
　財政規律の強化だけでは、国民の反発を招くばかりで展望は見いだせまい。ギリシャ経済はマイナス成長が続く。銀行預金の引き出しが急増していることも金融不安を増幅する。

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Exploring breakthrough steps

We urge Greece and the EU to explore the possibility of working out breakthrough measures so fiscal rehabilitation and economic growth can accompany each other. It is worth studying revitalization measures utilizing a bailout framework that will include the European Investment Bank.
　財政再建と経済成長を両立させるため、ギリシャとＥＵは打開策を探ってもらいたい。欧州投資銀行などの枠組みを利用した活性化策も検討に値しよう。

Financial uncertainty also is becoming serious in Spain, where banking business deteriorated due to the slump that has occurred in the aftermath of the bursting of the property bubble. Delay in taking action to deal with the Spanish crisis will send the EU into a vicious circle in which the crisis expands.
　欧州では、バブル崩壊後の経済低迷で銀行経営が悪化したスペインの金融不安も深刻化しつつある。ここでも対応が後手に回ると危機が拡大する悪循環に陥る。

Following a summit conference of the Group of 20 economies that opened Monday in Mexico, an EU summit meeting will be held late this month. Germany and France are urged by the international community and markets to display leadership in formulating comprehensive prescriptions to remedy the European crisis.
　メキシコでの主要２０か国・地域（Ｇ２０）首脳会議に続き、月末にはＥＵ首脳会議が開かれる。独仏両国が主導して、欧州危機への包括的な処方箋を打ち出すことを国際社会も市場も催促している。

(From The Yomiuri Shimbun, June 19, 2012)
（2012年6月19日01時28分 読売新聞）