经济货币联盟2.0版?

布鲁塞尔——

一年来,欧洲的政策制定者们一直忙于修复经济货币联盟(EMU)设计的故障。正如对待存在故障的软件一样,他们以疯狂的速度接连推出了EMU的新版本,结果却很快发现故障仍然存在。然而,在3月份的两次峰会之后,欧洲官员声称已经制定了一个无故障加强版。那么这次我们可以相信他们吗?

要回答这一问题,我们首先要看所有EMU问题的根源:危机预防。在2010年前,危机预防几乎完全是基于对预算赤字的监督。这一监督在《稳定与增长条约》的框架内展开((同样还存在一种用于广泛经济监督的程序,但这缺乏政治支持)。危机不仅暴露了这一框架的重大执行问题,而且还暴露了重大设计问题:从未有红灯指示爱尔兰或西班牙处于危险之中。

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