Europeans today have latched onto the practical side of Hamilton’s argument – that is, the idea that debt mutualization might be a means to cheaper credit; but they have worked out neither the political institutions, nor the shared public virtue, that Hamilton deemed crucial. The extended and politicized debate about debt restructuring has made a Hamiltonian solution more difficult, because the credit of the countries that would be party to it has become questionable.
如今，欧洲人对汉密尔顿观点的实践方面领会甚深——即债务共同化可以降低信用成本；但对于汉密尔顿认为至关重要的政治制度或共同的公德，欧洲人还任重道远。欧洲没完没了的关于债务重组的政治化争论使得实行汉密尔顿式的解决方案难上加难，因为其中所牵涉到的国家信用颇为可疑。