Shortly thereafter, however, German Chancellor Angela Merkel asserted that such guarantees had to be provided by each state individually, not by Europe collectively. That marked the beginning of the euro crisis, because it exposed a flaw in the single currency of which neither the authorities nor financial markets were aware – and which is still not fully recognized today.
但此后不久，德国总理安格拉·默克尔称欧洲无法统一提供上述担保，而必须由联盟各国独立提供。这项决策标志着欧元危机的开始，因为监管当局和金融市场此前均未意识到的单一货币缺陷就此暴露——直到今天我们还未彻底认清上述缺陷的严重性。