The same applies to extensive government borrowing from abroad, to currency boards, even to currency unions. The creation of the euro is nothing but an extreme form of commitment: European governments tried to lash themselves to the German mast of fiscal discipline.
同样的策略也可以用于扩大政府外债、货币局制度甚至货币联盟。欧元的诞生无非是极端形式的承诺：欧洲各国政府将尽力往德国财政纪律标准上靠。