不会致溺的债务

伦敦—20世纪70年代以来,经济学家警告货币联盟无法再没有财政联盟的情况下维持。但是欧元区领导人并没有遵循他们的意见——其后果正在变得日益明显。如今,欧洲面临着不同的选择:要么修正这一根本性设计缺陷、迈向财政联盟,要么抛弃共同货币。

选择后一个选项将导致灾难性后果。事实上,尽管在20世纪90年代,建立货币联盟是否值得追求便已值得商榷,但现在解散欧元区会触发整个欧洲的深刻的经济、社会和政治剧变。。为了避免这一结果,欧洲领导人必须开始设计并实施旨在让欧元区向财政联盟靠拢的战略。

平心而论,像美国那样的财政联盟是一个遥远的梦,不是欧洲领导人应该追求的近期目标——或许他们这辈子都不用想。但这并不意味着成立财政联盟是痴人说梦。现在开始向正确的方向迈出小步将带来极大的不同。

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