A second school of thought also portrays the crisis as a pure liquidity problem, but views long-term insolvency as an outside risk at worst. The problem is not that the debt of countries on the eurozone’s periphery is too high, but that it has not been allowed to rise nearly high enough.
第二个思想流派也将这场危机描述为纯粹的流动性危机，但认为长期偿债问题最多只是个外部风险。问题不在于欧元区外围国的债务太高，而在于没有允许它上升到接近于足够高的程度。