Riots, debts and the creeping fear of a looming Lost Decade – no wonder there is pessimism in Europe. But what we are seeing is not just “financial crisis, part two”; it is “sustainable growth challenge, part one”. The difference has implications for policy. Get the diagnosis wrong and the wrong treatment will follow.
騷亂、債務以及對“失落的十年”即將來臨的擔憂日益加劇——難怪歐洲人感到悲觀。但我們眼下看到的不僅僅是“金融危機，下半場”；還是“可持續增長挑戰，第一幕”。這中間的區別對政策會有一定影響。診斷失誤，就會導致療法出錯。
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