Worse, rather than being an “anchor of stability” for the eurozone, as Schäuble claims, Germany spreads instability. Its banks’ poor approach to lending their surplus savings inflated asset-price bubbles in the run-up to the financial crisis, and have imposed debt deflation since then.
更糟糕的是，相对于成为欧元区的“稳定之锚”（朔伊布勒所言），德国实际上是在散布不稳定。在金融危机不断积蓄的过程中，德国各大银行拙劣的盈余储蓄投资手段推高了资产价格泡沫，又在随后引发了债务萎缩。