ギリシャ危機 混乱の拡大防ぐ最善の努力を

The Yomiuri Shimbun
Take all possible measures to prevent Greek crisis from expanding globally
ギリシャ危機　混乱の拡大防ぐ最善の努力を

All countries and organizations concerned must do whatever it takes to solve Greece’s financial crisis, thereby avoiding economic turmoil originating in Europe.
　欧州発の経済混乱を回避するため、関係する各国・機関は、事態打開へ全力を挙げるべきだ。

The negotiations on a bailout plan between Greece and the European Union, among others, have broken off.
　ギリシャ支援を巡る欧州連合（ＥＵ）などとギリシャとの協議が決裂した。

The EU presented a compromise plan to extend the expiry of its financial support until the end of November from the originally scheduled end of June on condition that Greece accept structural reform proposals such as tax increases and cuts in pension payments.
　ＥＵ側は、年金減額や増税といった構造改革案の受け入れを条件に、６月末の支援期限を１１月末まで延長する妥協案を示した。

However, Greece suddenly announced a plan to hold a national referendum on the EU proposals on July 5. Furiously angered by the announcement, the EU has decided to cut off assistance as originally scheduled.
　だが、ギリシャは突如、ＥＵ案の是非を問う国民投票を７月５日に行う方針を表明した。これに猛反発したＥＵ側は、期限通りに支援を打ち切ることを決めた。

The rupture in talks plunged the world’s stock markets into turmoil Monday, with the key Nikkei Stock Average closing down nearly 600 points Monday compared with Friday’s close.
　交渉決裂を受けた週明け、東京市場の平均株価が６００円近く下落するなど、世界の市場に混乱が波及している。

Chief Cabinet Secretary Yoshihide Suga said, “Japan will analyze the problems, too, and carefully deal with the situation.”
　菅官房長官は記者会見で、「日本も問題の情勢分析、対応に遺漏がないようにする」と述べた。

Financial authorities of Japan, the United States and other countries need to prevent the crisis from expanding by cooperating closely with the EU and the International Monetary Fund.
　日米をはじめ各国の金融当局は、ＥＵや国際通貨基金（ＩＭＦ）と緊密に連携し、危機拡大を食い止める必要がある。

The time limit for Greece’s repayment of about €1.5 billion to the IMF comes Tuesday. There is a strong possibility that Greece will default due to a shortage of funds.
　ギリシャは３０日、ＩＭＦに対する約１５億ユーロの債務の返済期限を迎える。資金不足で債務不履行（デフォルト）に陥る恐れが強い。

The EU has decided to discontinue the bailout plan probably because it judged that even if Greece defaults on repayment, the adverse effects on markets will be limited since lenders are mostly governments and central banks of other countries.
　ＥＵが支援打ち切りを決めたのは、貸し手の大半が各国政府や中央銀行で、ギリシャがデフォルトになっても、市場への悪影響が限られると判断したのだろう。

Avoid underestimation

But the fact remains that the Greek crisis could deal a blow to markets given the complexity of speculation by dealers. Underestimating any possible impact is something to be carefully avoided.
　しかし、様々な思惑が錯綜さくそうする市場では、ギリシャ問題が想定外の打撃をもたらす懸念は拭えない。過小評価は禁物である。

Of course, the best solution is for Greece to accept the EU reform proposals so the time limit for repayment can be extended.
　無論、事態の沈静化を図る最善の道は、ギリシャがＥＵ側の改革案を受け入れ、支援延長を実現することだ。

The Greek administration of Prime Minister Alexis Tsipras announced the national referendum plan abruptly in an attempt to draw concessions from the EU on the pretext of “the public’s will.” The Tsipras administration also has likely concluded that acceptance of the EU proposals based on the result of the referendum would provide a good excuse for the administration to alter its anti-austerity policy.
　チプラス政権が国民投票を唐突に打ち出したのは、「民意」を盾にＥＵへ譲歩を迫る狙いがある。投票の結果、ＥＵ案を受け入れるのなら、反緊縮路線を変更する名分が立つとの計算もあろう。

The Greek people have not been well informed about the progress of negotiations with the EU and the possible impact a default would cause. Therefore, it would be irresponsible for the administration to saddle the people with making the final decision.
　ギリシャ国民は、ＥＵとの交渉経過やデフォルトがもたらす影響を十分に知らされていない。政権が国民に最終判断を丸投げするのは、あまりに無責任だ。

The Greek government has resorted to capital control measures, including shutting banks and setting a limit on cash withdrawals, leading to long lines of anxious people in front of ATMs.
　ギリシャ政府は、銀行の休業や預金引き出し制限などの資本規制に踏み切った。現金自動預け払い機（ＡＴＭ）に長い列ができるなど国民に不安が広がっている。

These steps are merely stopgaps. If Greece’s exit from the eurozone becomes reality, its economy will most certainly fall into a serious predicament.
　こうした規制は一時しのぎに過ぎない。ユーロ圏からの離脱が現実味を帯びれば、ギリシャ経済が深刻な苦境に陥るのは必至だ。

To help prevent further suffering, the Greek government must sincerely explain to the people the need for concessions and move toward compromising with the EU.
　国民をこれ以上苦しめないためにも、ギリシャ政府は譲歩の必要性を国民に真摯しんしに説明し、ＥＵ側に歩み寄らねばならない。

(From The Yomiuri Shimbun, June 30, 2015)