歐洲央行9日正式開啟量化寬松貨幣政策。對其實施效果和前景，多數(shù)分析人士認為，短期將導(dǎo)致歐元下跌利于歐洲出口，但要真正改善歐洲疲弱的經(jīng)濟還需扎實實施的結(jié)構(gòu)性改革。

據(jù)歐洲央行的計劃，從3月起將每月購買600億歐元政府與私人債券，該政策預(yù)計將持續(xù)至2016年9月底。受此影響，歐元持續(xù)下探。

歐洲經(jīng)濟持續(xù)疲弱是歐洲央行推出量化寬松政策的直接原因。目前歐元區(qū)經(jīng)濟增長率不足1%，主要經(jīng)濟體法國、意大利經(jīng)濟接近零增長，多個國家已陷入通縮局面。因此，通過寬松貨幣政策刺激增長和消費是歐洲央行的政策目標。

在評價歐洲央行寬松貨幣政策時，歐洲國際政治經(jīng)濟研究中心主任弗雷德里克·埃里克松說，該政策十分必要，是修正過去幾年“保守”貨幣政策的良機。他說：“購債計劃的實施有利于短期內(nèi)化解歐洲低通脹局面，防止通縮風險蔓延，同時也能拉動經(jīng)濟增長率。”

然而部分專家對歐洲量化寬松政策前景并不樂觀。中國外匯投資研究院院長譚雅玲表示，執(zhí)行寬松政策過程中會加劇各國矛盾，各國經(jīng)濟差異會進一步拉大。她說：“德國這樣的發(fā)達國家發(fā)展會越來越好，希臘、塞浦路斯這樣的國家會越來越差，這會激化歐元區(qū)分裂。如果不解決機制問題、體制問題和市場問題，印鈔票是沒有用的。”

歐洲經(jīng)濟要實現(xiàn)完全復(fù)蘇單靠量化寬松政策是不夠的。埃里克松指出，全面實施結(jié)構(gòu)性改革、提高區(qū)域競爭力，才是歐洲經(jīng)濟長期增長的關(guān)鍵。（中國進出口網(wǎng)）

European Central Bank on the 9th Mar. officially introduced the quantitative easing monetary policy. As for the results and prospects of its implementation, most analysts believe that this policy will result in euro decline and will be favor of short-term exports from Europe, but a solid implementation of structural reforms will be needed if the weak economic is improved.

According to the ECB's plan, it will buy 60 billion euros of government and private bonds per month from March to the end of September 2016. Thus, the euro continued to decline.

Continued weakness in the European economy is the direct cause of the ECB's introduction of quantitative easing. Currently economy growth is less than 1% in the euro area economy, in the major economies France and Italy, the economy growth is close to zero, economic growth in many countries has fallen into deflation. Thus, to stimulate growth and consumption by quantitative easing monetary policy is the ECB's policy objectives.

In evaluating the ECB easing monetary policy, director of the International Centre for European Economic Research politics Frederick Eriksson said the policy is necessary, and it’s an opportunity to amend the "conservative" monetary policy in the past few years. He said, "The purchase of debt is in favor of implementation of the plan to resolve the situation in Europe and low inflation in the short term, to prevent the spread of the risk of deflation, but also to stimulate economic growth."

However, some experts are not optimistic on the European QE outlook. President of China Foreign Exchange Investment Research Institute Tan Yaling said, quantitative easing monetary policy will intensify contradictions among the countries, the economic disparities among countries will be widened. She added, "Developed Countries like Germany will be getting better and better, countries like Greece and Cyprus will become increasingly poor, thus intensifying the eurozone splitting. If the mechanism, institutional and market issues aren’t solved, there’s no use to print money. "

To achieve full recovery of the European economy QE alone is not enough. Eriksson pointed out that the full implementation of structural reforms to improve the competitiveness of the region, is the key to long-term economic growth in Europe.