LIVE MARKETS-"I’m from the government, and I’m here to help"
LIVE MARKETS-"I’m from the government, and I’m here to help"
* European stocks up 1.4%,
* 歐洲股市上漲 1.4%，
* Crude futures still under pressure
* 原油期貨仍處於壓力
* Wall Street rises at the open
* 華爾街在開放時升起
Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan.
歡迎來到路透社股票記者為您帶來的歐洲股票市場實時報導。你可以分享你的想法與 Tyagaraju 阿迪納拉揚 (thyagaraju.adinarayan@thomsonreuters.com), 喬伊斯·阿爾維斯 (joice.alves@thomsonreuters.com) 和朱利安蓬蘇斯 () 在倫敦和斯特凡諾雷波多 () 在米蘭. julien.ponthus@thomsonreuters.com stefano.rebaudo@thomsonreuters.com
"I’M FROM THE GOVERNMENT, AND I’M HERE TO HELP" (1348 GMT)
「我來自政府，我在這裡幫助「（1348 格林尼治標準時間）
There was a time Ronald Reagan was cheered when he said the most terrifying words in the English language are "I’m from the government, and I’m here to help".
有一段時間，羅納德·里根（Ronald Reagan）說英語中最可怕的詞語是「我來自政府，我在這裡幫助」時，他感到歡呼。
But in the brave new world shaped by the coronavirus pandemic, capitalism icons such as Thatcherism and the Chicago boys are irrelevant, argues Sam Theodore, managing director at Scope.
但是，在冠狀病毒大流行形成的勇敢新世界中，撒切爾主義和芝加哥男孩之類的資本主義偶像無關緊要，Scope 的董事總經理薩姆·西奧多（Sam Theodore）認為。
The state is back in the driving seat and has taken an unequivocal lead in the fight against the pandemic and the financial catastrophe it has unleashed on the global economy.
該州又回到了駕駛座位，並在與大流行和對全球經濟釋放的金融災難的鬥爭中佔據了明確的領先地位。
Not only governments are currently indispensable in preventing an economic and financial collapse but they most certainly keep occupying the centre stage for the foreseeable future.
目前，政府不僅在防止經濟和金融崩潰方面是必不可少的，而且在可預見的將來，他們肯定會繼續佔據中心階段。
In that sense, Theodore believes investors in banks should quickly understand that paradigm change.
從這個意義上講，西奧多認為銀行的投資者應該很快理解這種範式的變化。
"What the banks are being asked to do now is to distribute public-sector financing, provide temporary financial relief to their clients who need it while continuing to stand on their feet", he writes in a note.
「銀行被要求做什麼 現在 是分發公共部門融資, 為他們的客戶提供臨時財政救濟誰需要它，同時繼續站在他們的腳」, 他在一張紙條中寫道.
In that sense, "the European banking sector moving into this new direction, in-between market dynamics and a quasi-public mission, will probably require investors and analysts to adjust their assessment lenses".
從這個意義上講，「歐洲銀行業朝著這一新方向邁進，介於市場動態和準公共使命之間，可能需要投資者和分析師調整其評估鏡頭」。
The recent decision of most European banks to freeze or scrap dividend payouts has indeed already forced investors to manage their expectations towards a sector which has lost about 40% of its market value in a quarter or so.
大多數歐洲銀行最近決定凍結或取消股息支出，確實已迫使投資者對一個行業的期望在一個四分之一左右的時間內損失了約 40％ 的市值。
"The banks will need to re-balance their strategic priorities away from first and foremost meeting bottom line-related shareholder expectations", Scope&aposs Theodore also said.
Scope&Aposs Theodore 還表示：「銀行將需要重新平衡其戰略優先事項，遠離首要滿足與底線相關的股東期望。」
(Julien Ponthus)
(朱利安蓬蘇斯)
譯文內容由第三人軟體翻譯。