This fundamental problem has now manifested itself in these countries’ unsustainable debt dynamics. Euro membership, which temporarily enabled massive borrowing at low interest rates, merely aggravated it.
这些根本性问题如今在这些国家无以为继的债务循环上暴露无疑。欧元区成员的身份虽然在短期内允许其大量低息借债，但其实是加速了这一问题的恶化。