Where do the European Union, the eurozone, and the EU’s highly indebted countries go from here? Will Europe be able to roll back its welfare states’ biggest excesses without economic distress and social unrest toppling governments and, in the peripheral countries, undermining already-tenuous agreements with creditors?
北京—希腊债务协议的达成和欧洲央行贷款计划的实施大幅减少了传染性主权债去大爆发和欧洲央行大批倒闭的可能性，现在，我们应该把目光朝前看。欧盟、欧元区以及债务沉重的欧元区成员国将何去何从？欧洲能够成功地减少其福利国家最大的国度支出项，同时又不引起经济灾难、颠覆政府的社会动荡并且（在外围国家）不影响弱不禁风的债权人协议。