Europe’s leaders must pursue a controlled segmentation of the eurozone, in which the most competitive countries – Austria, Finland, Germany, and the Netherlands – adopt a new currency, the “northern euro.” This new monetary union would be managed according to the original Maastricht Treaty, with a truly independent central bank responsible for regulating the northern euro’s exchange rate against the euro, which less competitive countries would retain.
这一局面是不可维持的。欧洲领导人必须寻求有控制地分割欧元区，最具竞争力的国家——奥地利、芬兰、德国和荷兰——应该采用新货币“北欧元”。这一新的货币联盟将根据原始的马约进行治理，成立真正独立的中央银行负责监管北欧元对欧元（由竞争力较弱国家继续使用）的汇率。