Moreover, we must remember that budgets were already strained before the crisis, and that governments’ balances do not reflect all aspects of reality. In Germany, for example, overall debt jumps from the current 65% of GDP to 250% when pension liabilities are included.
第一个风险在于国家将会过度扩张。这场危机将会导致二十国集团经济体的财政平衡状况大幅恶化。随着经济走向复苏、政府取消支持措施，财政赤字状况将会有所改观，但并非所有的措施都是一时之计、或在经济方面具有合理性。大部分政府也将其一揽子刺激方案用来服务于既得利益者。日积月累的债务将会构成公共财政的长久负担。