南歐四國銀行核心資本構成引爭議
The EU is collecting evidence to determine if Greece, Portugal, Spain and Italy should face an investigation into whether they are illegally underwriting banks that have bolstered their capital with assets considered low-grade in the rest of the eurozone.
歐盟(EU)正在收集證據，以決定是否應該調查希臘、葡萄牙、西班牙和意大利政府涉嫌爲本國那些用低質資產充當資本的銀行提供了非法擔保。
At issue are so-called deferred tax assets, which are accepted as core capital in the four southern European countries, but which are not regarded by the European Central Bank as “high quality”.
爭論的焦點是所謂的“遞延所得稅資產”——這類資產在上述四個南歐國家被視爲核心資本，但歐洲央行(ECB)並不認爲它是“優質資產”。A full probe by Brussels into the legality of the way that governments guarantee these assets would pose a severe challenge for southern European banking systems that are still struggling to recover from the eurozone crisis.
歐盟對這些國家政府爲這些資產提供擔保的合法性展開的全面調查，將對南歐國家的銀行業體系構成嚴峻挑戰，後者仍在艱難試圖從歐元區危機中恢復。
Any withdrawal of government support for deferred tax assets could dramatically weaken some banks’ capital buffers, raising the spectre of another shock to Europe’s banks.
政府退出對遞延所得稅資產的支持，將會嚴重削弱一些銀行的緩衝資本，從而有可能對歐洲銀行業造成另一波衝擊。The European Commission is currently studying information requested from member states to establish whether the case merits a formal investigation. People familiar with the process said a “conversation” was now under way between member states and competition authorities in Brussels.
歐盟委員會(European Commission)當前正在研究其要求成員國提供的信息，以決定是否應該展開正式調查。知情人士稱，歐盟成員國與歐盟競爭監管機構正在舉行“會談”。
