PARIS – As the eurozone debates how to escape the stagnation trap in which it finds itself, one question has become increasingly important: Can governments credibly commit to trim public spending in the future while avoiding immediate cuts? Fortunately, the answer is a qualified yes: there are ways to ensure that fiscal accommodation now is followed by consolidation later.
巴黎—在欧元区争论如何摆脱它身陷其中的停滞陷阱之际，一个问题变得越来越重要：政府能够可信地做出削减未来公共支出承诺、同时避免立刻削减支出吗？幸运的是，答案是有条件的“是”：有办法保证现在进行财政调整，随后再进行整合。