The European Central Bank’s belated embrace of quantitative easing was a welcome step forward, but policymakers’ enormously destructive decision to shut down a member state’s banking system – for what appears to be political reasons – is a far larger step backward. And no one is talking about real fiscal and political union, even though no one can imagine European Monetary Union surviving under the status quo.
欧洲央行姗姗来迟的量化宽松是一个值得欢迎的进步，但决策者关闭成员国银行系统——并且是出于政治上的原因——具有极大的破坏性，是退后的一大步。并且没人在谈论真正的财政和政治联盟，哪怕没人能够想象欧洲货币联盟可以在现状下生存下去。