In their enthusiasm for creating a “single market,” European leaders did not recognize that governments provide an implicit subsidy to their banking systems. It is confidence that if trouble arises the government will support the banks that gives confidence in the banks; and, when some governments are in a much stronger position than others, the implicit subsidy is larger for those countries.
当欧洲领导人热衷于创造一个“单一市场”时，他们没有意识到是政府在为他们的银行系统提供隐性补贴。如果问题出现，政府对银行的支持会给银行带去信心；并且，当一些国家的政府比其它国家的政府处境好很多时，其对于银行的隐性补贴也比别的国家大很多。