It cannot, however, be achieved through the back door, by eroding members’ fiscal-policy sovereignty. Attempting to compel transfer payments would generate moral hazard on the part of the recipients and resistance from the donors, with the resulting increase in tensions possibly jeopardizing the integration that has been achieved so far.
政治联盟在遥远的未来仍然是可能的。但是，它无法通过蚕食成员国财政政策主权的捷径实现。试图强行推动转移支付将在受付者身上制造更大的道德风险，在支付者身上制造更大的抵制，由此导致的紧张局面升级可能破坏目前已经实现的一体化。