An ever-increasing capital stock relative to output, however, means ever-lower returns to capital and thus ever more non-performing loans in the banking sector over time. Given the weak state of Europe’s banking system, accumulating too much capital is not a luxury that the EU can afford.
但是，资本存量相对于产出不断增加意味着不断降低的资本回报，假以时日，这将给银行部门带来更多的不良贷款。考虑到欧洲银行体系的脆弱性，积累过多资本可不是欧盟经受得起的奢侈品。