ギリシャ支援 危機回避へ延長が不可欠だ

The Yomiuri Shimbun
Extension of bailout program for Greece essential to avoid European debt crisis
ギリシャ支援　危機回避へ延長が不可欠だ

Can a possible flare-up of the European sovereign debt crisis be prevented? Tensions are building over the current situation.
　欧州発の危機再燃を回避できるか。事態は緊迫の度を増している。

A meeting of the 19 finance ministers of the eurozone on how Greece can meet its debt commitments ended without an accord.
　ギリシャ向け金融支援策の継続問題を協議していたユーロ圏１９か国財務相会合が、物別れに終わった。

European creditors asserted that Greece would apply to extend the current bailout program for six months on condition that it would maintain tight budgetary discipline.
　欧州連合（ＥＵ）側は、緊縮財政を前提とした現行の枠組みを６か月延長するよう主張した。

But Greek Finance Minister Yanis Varoufakis rejected this, saying the current bailout program had failed to stabilize the Greek economy.
　これに対し、ギリシャのバルファキス財務相は「現在の支援策はギリシャ経済の安定に失敗した」と述べ、支援延長を拒否した。

Eurozone creditors plan to hold more talks with Greece, possibly on Friday, to reach an agreement, but the views of Greece and other eurozone nations remain far apart.
　ＥＵは２０日にも再び会合を開いて、合意を目指す考えだが、ギリシャと他の各国との意見の隔たりは大きい。

At this point, it is uncertain whether the current bailout program, which ends on Feb. 28, can be maintained.
２月末に期限を迎える支援策が続けられるかどうか、予断を許さない状況だ。

Should the bailout be discontinued, Greece will face a lack of funds, raising the risk of the country defaulting on its debts.
　支援が打ち切られると、ギリシャの資金繰りが行き詰まり、国債のデフォルト（債務不履行）などのリスクが一気に高まる。

If the sovereign debt crisis worsens, not only would the Greek economy go bankrupt but the economy of the entire eurozone would eventually plunge into a financial quagmire. Extending the bailout program is essential to avoid seriously affecting the world economy.
　再び債務危機が深刻化すれば、ギリシャ経済が破綻するだけでなく、欧州全体が苦境に陥ることは避けられない。世界経済に重大な打撃を与えないためにも、支援策の延長が不可欠だ。

Greece must endure the pain of tightening its budgetary belt in return for financing from other eurozone countries, which helped Greece pay the price of its own loose fiscal discipline over many years.
　ギリシャは、放漫財政のツケを他国の財政資金で穴埋めしてもらっている以上、緊縮財政の痛みを甘受すべきである。

The Coalition of the Radical Left, led by Alexis Tsipras — now prime minister — won the general election last month and came to power after adopting an anti-austerity position.
　ギリシャのチプラス首相率いる急進左派連合は、反緊縮財政を旗印に１月の総選挙で勝利し、政権を奪取したばかりだ。

By honoring its campaign pledge, the ruling coalition may have no other recourse but to reject the austerity program presented by creditor countries.
公約に基づき、ＥＵ側の求める緊縮策を頑かたくなに拒まざるを得ないのだろう。

Lack of strong industries

Except for tourism and agriculture, the Greek economy has had no strong industries for many years, while the ratio of public service workers to the total working population is high.
　だが、ギリシャ経済は長年にわたり、観光や農業などを除けば有力な産業がなく、労働人口に占める公務員の比率が高い。

As a result of the Greek government’s handling of the economy, which relies heavily on fiscal spending, its society lost much of its vigor, with its debts mounting due to increasing expenditures and sluggish tax revenues.
　こうした財政出動に依存した経済運営を続けた結果、社会の活力は失われ、歳出増加と税収低迷によって債務は膨張を続けた。

To revitalize Greece, there is no other way but to restructure the nation’s fiscal discipline in accordance with the bailout program of the European Union and other entities, while drastically reforming its inefficient economic structure.
　ギリシャを再生するには、ＥＵなどの支援プログラムに沿って財政規律を立て直すとともに、非効率な経済構造を抜本的に改革する以外に、道はあるまい。

In some other eurozone countries, political parties advocating “anti-austerity” stances are gaining public support, as was seen in Greece.
　欧州の一部の国では、ギリシャと同様に「反緊縮」を掲げる政党が支持を広げている。

Worried that loose fiscal discipline may spread to countries in southern Europe and elsewhere, the EU is strongly pressing Greece to toe the austerity line.
　ＥＵは、財政規律の緩みが南欧諸国などに波及する事態を懸念して、強い態度でギリシャに緊縮路線の堅持を迫っている。

Should the bailout talks collapse completely, Greece’s departure from the eurozone will become a real possibility. As this would undermine confidence in the euro system, such a situation must be avoided.
　悩ましいのは、協議が完全に決裂した場合、ギリシャのユーロ圏離脱が現実味を帯びることである。ユーロ体制の信認が揺らぐ事態は避けなければならない。

The EU should explore compromises such as easing the terms for repayment, while maintaining, in principle, the current bailout framework.
　ＥＵは、現行の枠組みを基本としつつ、返済条件の緩和などの妥協策も模索すべきだろう。

(From The Yomiuri Shimbun, Feb. 18, 2015)