A more competitive currency would be welcome: just as the sterling’s collapse since 2008 has lifted UK exports, a weaker euro would help Mediterranean economies regain competitiveness for price-sensitive exports. A fiscal devaluation – slashing payroll taxes and replacing the revenues with a higher VAT – would also help.
提振增长也很重要。赤字国需要增加竞争力、提高生产率，同时削减成本。更具竞争力的货币是一种优势：自2008年以来，英镑的贬值就提振了英国的出口，同理，欧元的贬值也会有助于地中海国家重新获得高价格弹性出口品上的竞争力。财政性贬值——降低工资税，替之以对收入收取的更高的增值税——也能有所助益。