The European periphery would have benefited from the same institutional advances in central banking as everyone else; but there is no particular reason to suppose that its political structures would have evolved in a radically different way.
La periferia europea se habría beneficiado de los mismos avances institucionales en la banca central que todos los demás, pero no hay ninguna razón en particular para suponer que sus estructuras políticas hubieran podido evolucionar de una manera radicalmente diferente.