Europe’s contemporary problems offer striking parallels with previous problems on the periphery of the world economy. In successive waves of painful crisis – in Latin America in the 1980’s, and in East Asia after 1997 – countries learned a better approach to economic policy and developed a more sustainable framework for managing public-sector debt.
欧洲当前的问题同此前困扰世界经济边缘地带的问题惊人地类似。20世纪80年代的拉美、1997年的东亚，从一波又一波危机的沉痛教训中，有关国家提升了经济政策的水平，并且摸索出一套管理公共债务的行之有效的办法。如今，轮到欧洲来上这一课了。