ECB headquarters Frankfurt Luo Huanhuan/ZumaPress

让欧元区民主化

雅典—就像麦克白(Macbeth),决策者总是用新的重罪掩盖旧的轻罪。而政治制度的价值就在于能很快地结束官员系列化的、互相强化的政策错误。从这个标准判断,由19个老牌民主国家组成的欧元区比世界上最大的非民主经济体还要落后。

2008年全球金融危机导致发生衰退后,中国决策者花了七年时间用地方政府激进的卖地行为煽动国内投资泡沫取代不断下降的中国净出口需求。而当今年夏天清算时刻终于到来时,中国领导人拿出2,000亿美元辛苦积攒的外汇储备扮演了一回卡努特王(King Canute),试图力挽股市暴跌之狂澜。

但是,与欧元区相比,中国政府纠正错误的努力——最终让利率和股票价值下跌——堪称速度和效率的典范。事实上,失败的希腊“财政整合和改革计划”,以及欧盟领导人不顾五年来该计划根本无法成功的铁证顽固死守此法,是更广泛的欧洲治理失败的症候,而这一失败有其深刻的历史根源。

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