这样做在短期可能有效，但如果主权违约风险成为现实 — — 根据我和卡门·莱因哈特（Carmen Reinhart）的研究，这很有可能 — — 那么欧洲央行自身也将需要资本重组。
That may work in the short term, but if sovereign default risks materialize – as my research with Carmen Reinhart suggests is likely – the ECB will in turn have to be recapitalized.