Then came the crash of 2008, which originated in the United States but caused greater problems in Europe than anywhere else. Policymakers responded to the collapse of Lehman Brothers by announcing that no other systemically important financial institution would be allowed to fail, which required substituting state credit for frozen markets.
而后2008年起源于美国的崩溃导致欧洲比其他地方蒙受了更大的损失。决策者在雷曼兄弟倒台后宣布绝不允许其他有系统重要性的金融机构崩溃，而这需要以国家信用代替已陷入冰冻的市场。