And yet Europe’s crisis is far from over, as the decisions by the European Central Bank’s Governing Council in June and September demonstrate. This reflects two factors: too little ambition in carrying out essential balance-sheet corrections, and slow progress – negligible in France and Italy – in restructuring Europe’s national economies.
而欧洲危机还远未结束，欧洲央行管理委员会6月和 9月的决定说明了一切。这反映出两个因素：实施关键性资产负债表修正的决定不够，以及欧洲各国政府重组进展缓慢（法国和意大利就是明证）。