Eurozone quantitative easing was launched to save the single currency bloc. But it may end up making it easier to break the eurozone apart.
欧元区推出了量化宽松举措，以拯救这个单一货币联盟。然而，这一举措最终可能会让该地区更容易分崩离析。
Since it was launched this month, the European Central Bank’s open-ended programme of €60bn a month in asset purchases has succeeded in dropping government borrowing costs to record lows. By weakening the euro, it has also boosted exports, sent equities soaring and raised hopes of a eurozone recovery.
欧洲央行(ECB)每月600亿欧元的开放式资产收购计划自本月推出以来，已成功把欧元区政府借贷成本降至创纪录低点。通过压低欧元汇率，该计划也促进了出口，令股市出现大涨，并燃起了欧元区复苏的希望。
But in so doing, it may also be masking the pain of a potential Greek exit from the euro — a prospect that once terrified financial markets and the country’s eurozone partners but no longer seems so frightening to them.
然而，这么做也许同样把希腊可能退出欧元区的痛苦掩盖了。希腊退出欧元区的可能性，曾一度令金融市场及其欧元区伙伴国恐慌。如今，对他们来说，这种可能性看起来却似乎没那么可怕了。
“For the moment, everything is being artificially hidden by the QE,” said Philippe Gudin de Vallerin, chief Europe economist at Barclays.
巴克莱银行(Barclays)欧元区首席经济学家菲利普•古丁•德瓦莱林(Philippe Gudin de Vallerin)表示：“此刻，一切都被量化宽松计划刻意掩盖了。”
Just how consequential a Greek eurozone exit, or Grexit, might be has become one of the most urgent questions for the 19-member currency bloc as a new hard-left government in Athens runs out of cash and is clashing with its creditors.
对于拥有19个成员国的欧元区来说，在希腊强硬的左翼政府现金枯竭并与其债权国发生冲突之际，希腊退出欧元区到底会产生多大影响，或许已成为最紧迫的问题。
Many eurozone officials now doubt that Greece has the funds to cover both €1.7bn for government salaries and pensions this month and a €450m payment to the International Monetary Fund due on April 9.
如今，许多欧元区官员怀疑，希腊可能既没有资金发放17亿欧元的本月政府薪水和福利，也没有资金向国际货币基金组织(IMF)偿还4月9日到期的4.5亿欧元。