Indeed, in recent years, eurozone authorities have introduced several policies for fighting financial crises – including government-backed rescue funds, a partial banking union, tougher fiscal controls, and a role for the European Central Bank as lender of last resort. But most of these policies – with the possible exception of the banking union – are aimed at managing default risk, not eliminating this risk’s root causes.
但问题在于，欧洲人早已习惯在面对危机之时虚与委蛇，胡乱应付过去，使得任何长期解决方案都似乎无法实现。事实上近年以来，欧元区当局已经实施了多项政策来应对金融危机——推动以政府为后盾的救助基金，一个局部的银行联盟，更严格的财政管制，以及将欧洲央行确定为最后紧急借款者。但大多数这类政策——可能银行联盟除外——都旨在应对违约风险，而非铲除导致这一风险的根源。