Excessive centralization and harmonization are decimating the subsidiarity and competition needed to drive Europe’s economies, as the socialization of debt undermines weaker economies’ accountability. Furthermore, closing competitiveness gaps – essential to saving the euro – would not only require weaker economies to become more productive; strong economies, like Germany, would face pressure to become less efficient, diminishing Europe’s overall competitiveness vis-à-vis the rest of the world.
过度集中和和谐大幅削弱了提振欧洲经济所需要的自主和竞争，而债务社会化破坏了较弱经济体的可问责性。此外，弥合竞争力差距——拯救欧元的关键——不但需要较弱经济体提高生产率，德国的较强经济体也将面临效率降低的压力，从而降低了欧洲相对世界其他地区的总体竞争力。