The recent agreement gave Greece relief of €237 billion ($316 billion), about 30% more than Greece’s net national income of roughly €180 billion euros.But such help only entrenches the wrong prices – and thus the economy’s lack of competitiveness. The debts will re-emerge like a tumor, growing year by year, while undermining the creditworthiness of stable eurozone countries.
许多人都认为债务缓解以及债务社会化才是唯一出路。但其实这类手段早就实施了。最近签订的协议减免了希腊2370亿欧元（折合3160亿美元）的债务，比希腊约1800亿欧元的净国民收入还高出30%。但这类援助仅仅是巩固了那些错误的价格——以及随之产生的国家竞争力低下状况。这些债务会像一个肿瘤一样重新滋长起来，一天比一天更大，同时还会腐蚀那些稳健欧元区国家的资信可靠度。