To prevent a disorderly outcome in the eurozone, today’s fiscal austerity should be much more gradual, a growth compact should complement the EU’s new fiscal compact, and a fiscal union with debt mutualization (Eurobonds) should be implemented.&nbsp; In addition, a full banking union, starting with eurozone-wide deposit insurance, should be initiated, and moves toward greater political integration must be considered, even as Greece leaves the eurozone.
为避免欧元区出现无序结果，当下的财政紧缩应该大大放缓，新的欧盟财政契约应该辅之以增长契约，财政联盟应该辅之以债务共同化（欧元债券）。此外，即使希腊脱离欧元区，也应该成立完整的银行联盟（以泛欧元区存款保险为第一步），并考虑进一步的政治一体化。