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Nothing inspires German newspaper illustrators like the European Central Bank's monetary policies.
沒有什么能像歐洲央行（ECB）的貨幣政策一樣激發德國報紙插畫家的創作靈感。
Bond-buying is represented as a tsunami of cash. An uptick in inflation becomes a euro-gulping great white shark.
債券購買被視為一場現金海嘯。通貨膨脹的小幅上漲變成了一只吞食歐元的大白鯊。
After Mario Draghi, the ECB's outgoing president, pushed deposit-rate cuts
即將離任的ECB行長馬里奧·德拉吉在上個月通過其管理委員會
and a promise to restart quantitative easing (QE) through its governing council last month,
推動降低存款利率并承諾重啟量化寬松政策（QE）之后，
Bild, a tabloid, depicted him cloaked and fanged, as "Count Draghila".
八卦小報《Bild》將他畫成了一個披著斗篷、帶著尖牙的“德拉吉拉伯爵”。
German complaints are long-standing. The ECB's Strafzinsen ("punishment rates") expropriate savers.
德國的抱怨由來已久。歐洲央行的懲罰利息剝奪了儲戶的利益。
Banks suffer from negative rates they cannot pass on to customers. Cheap money fuels housing bubbles.
銀行承受著無法轉嫁給客戶的負利率。廉價貨幣助長了房地產泡沫。
The ECB is stealthily extending its mandate beyond price stability to redistribution.
歐洲央行正悄悄地將其職責從穩定物價延伸至再分配。
This week Oliver Bate, the boss of Allianz, Europe's largest insurer, joined the attack,
本周，歐洲最大保險公司安聯保險的老板Oliver Bate加入這場抨擊中，
lambasting the ECB in an interview with the Financial Times for "multiplying risk".
在接受英國《金融時報》采訪時，他痛斥歐洲央行"放大了風險"。
Some fear such attacks risk weakening support for the single currency in its largest economy.
一些人害怕這樣的攻擊會削弱最大經濟實體對歐元的支持。
But criticism from mainstream German politicians is now more muted than in 2016,
但德國主流政界人士的批評如今比2016年更加溫和，
when Wolfgang Schauble, a former finance minister, blamed easy money for the rise of far-right populism.
當時前財政部長沃爾夫岡·朔伊布勒將極右翼民粹主義的興起歸咎于寬松的貨幣政策。
Inside the ECB council, the idea of sometimes using unorthodox monetary tools is no longer contested.
在歐洲央行執委會內部，偶爾使用非傳統貨幣工具的觀點不再受到質疑。
On the big questions, Mr Draghi leaves office vindicated.
在重大問題上，德拉吉離職證明自己是正確的。
Yet his tactics are increasingly questioned. At least seven council members are reported to have objected to restarting QE.
但他的策略不斷受到質疑。據稱，至少7個委員會成員反對重啟QE。
Dissenters worried that additional unconventional stimulus might do more harm than good.
反對者擔心額外的非常規刺激可能弊大于利。
Several central-bank governors took their concerns public.
幾位央行行長公開表達了他們的擔憂。
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