Germany worries that, without strict supervision of banks and budgets, it will be left holding the bag for its more profligate neighbors. But that misses the key point: Spain, Ireland, and many other distressed countries ran budget surpluses before the crisis.
德国担心没有了银行和预算的严格监督，它得为那些肆意挥霍的邻国兜底，但那不是重点：西班牙，爱尔兰和其它许多陷入困境的国家在危机之前预算都有盈余，是经济的衰退导致了赤字，不是赤字导致衰退。