Governments may need incentives to act, but they also need to be able to show their citizens that reform pays. If, after a few quarters of fiscal adjustment and painful reform, output is lower, unemployment higher, and the outlook darker, governments may soon lose public support and reform may stall, as we have seen in Greece.
但这个策略其实是一场高风险的赌博。各国政府或许需要在激励因素的刺激之下才能行动，但他们也需要告诉市民们改革是可以带来好处的。如果在一系列财政调整和痛苦改革之后产能，失业率和前景进一步恶化，那么这些政府将迅速失去公众支持而改革也将陷入停滞，正如我们在希腊看见的那样。改革派团队也将大权旁落，让位给那些民粹主义者。