But one should not expect too much from a tough ECB stance. Think of the limited success of the ECB’s advocacy of greater labor-market flexibility: there has been no dramatic increase in the pace of reforms.
这个理由并非毫无道理；经济政策或许的确对工资谈判有一点影响。但是我们不应该对欧洲央行的强硬立场抱有太多希望。想想欧洲央行倡导提高劳动力市场灵活性取得的有限成绩吧：改革的步伐并没有出现戏剧性的加速。