The euro has become the prisoner of a playground game of “you-go-first”. Everyone — almost — knows what needs to be done, even if some resile from admitting it. The necessary ingredients are growth, competitiveness and sustainable debt and deficits. The missing glue is trust.
歐元已經淪為操場游戲“你先跳”中的囚徒。幾乎每個人都知道需要做什么，即使有些人并不愿意承認。當前所需要的是增長、競爭力和可以為繼的債務與赤字，而缺失的是信任。
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