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Europes zombie banks 欧洲的僵尸银行 Blight of the living dead 活死人没有黎明 Europes financial system is in a terrible state, andnothing much is being done about it 欧洲金融体系现状极差，也没多少改观 Jul 13th 2013 2013年7月13日 PROBABLY the most successful monetary-policymeasure undertaken in recent times. That isMarioDraghis self-effacing judgment on the outright monetary transactions programme,the promise made by the European Central Bank last summer to buy thebonds of strugglingeuro-area governments. The ECBs president deserves credit for bringingcalm to bond markets.But in reality the situation is still awful, and Europes banks are at theheart of theproblem. 欧洲央行行长德拉吉谦虚地作出评价：也许，直接货币交易是近期最成功的货币政策。 去年夏季，欧洲央行许下诺言，要利用直接货币交易政策来购买欧元区经济困难国家的债券。ECB行长平定了债券市场，值得嘉奖。但是，实际情况还是很糟糕，欧洲各个银行现在处在了问题的中心。 The euro-zone economy has contracted for six consecutive quarters. The IMF this weekrevisedits 2013 forecast down again: it expects the euro zone to shrink by 0.6% this year. The outlook in thecoreeuro-zone economies has worsened, thanks in part to a slowdown in China: in MayGerman exportssuffered their sharpest fall for two years. But the brunt of the pain is beingborne by theperipheral economies. | 
