Yet the financial crisis and the ensuing recession go only so far towards explaining these high levels of indebtedness. The truth is that many European and G-20 countries have lived far beyond their means – including Germany, despite its reputation as a paragon of fiscal rectitude.
虽然金融危机和紧接着的衰退为如此巨额的债务提供了借口。但事情的真相其实是许多欧盟和G20国家的支出都超过了自身收入——连一直在财政管理方面堪称表率的德国无法独善其身。