The euro is crumbling. Does this mean that the single currency project is nearing its end? Not quite. In fact, if well managed, the euro's depreciation is just what the doctor ordered to complement the much-needed fiscal consolidation in Greece as well as in the rest of southern Europe. Somewhat paradoxically, a weaker euro is the precondition for its survival.
歐元正在大跌。這是否意味著單一貨幣事業即將走到盡頭?未必。事實上,對希臘及其它南歐國家來說,如果管理得當,歐元貶值恰是可與亟需的財政整固措施配伍的一劑良藥。說來有些矛盾,貶值是歐元維持生存的先決條件。
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