Ultimately, the true contest is less between moral hazard and financial stability than it is between financially sensible and politically acceptable solutions. In Europe, as elsewhere, financial policy used to be the remit of specialists – central bankers, regulators, and supervisors.
最终，真正的争论与其说在于道德风险和金融稳定，不如说在于明智的金融解决方案和政治可行方案。与别处一样，在欧洲金融政策是专家的事——央行、监管者和监督者。仅此而已：专家早已失去了正统性。