In Europe, banks supply roughly 70% of the credit to European economies, compared to 30% in the US. But many European banks are over-leveraged zombies, kept alive by emergency public infusions of liquidity.
第三个问题是银行危机。在欧洲，银行提供了欧洲经济70%左右的信用，而美国只有30%。但许多欧洲银行都是过度负债的僵尸银行，依靠紧急公共流动性注入维持生命。