It is clear that the labor-market reforms undertaken by Germany a decade ago, painful as they were, have put the German economy in a far stronger position to compete globally. Similar reforms are urgently needed in countries like Italy and Spain.
不可否认，许多欧盟国家需要财政整合，特别是南欧国家（也包括法国）。但财政调整必须辅之以结构性改革。显然，德国十年前所经历的劳动力市场尽管非常痛苦，却使得德国经济在全球竞争中获得了一个极强有力的位置。类似的改革在意大利和西班牙等国家也刻不容缓。