France’s response to the tension between preserving the European project (equated with the single currency) and avoiding a chronically depressed economy will be to put off the day of reckoning for as long as possible. This dead-end strategy will feature vain attempts to game Germany and desperate economic expedients, such as the essentially coercive capture of domestic savings to finance government debt.
法国如何应对完成其欧洲计划（即单一货币）和避免长期经济压抑之间的矛盾要到不得不做出抉择的那一天才会有分晓。这一死胡同战略将以与德国的徒劳博弈和绝望的经济实验为特征，比如以实质强制性的国民储蓄为政府债务融资。但总有一天，法国人民要做出抉择，到那一天，法国的现有机制将面临严厉的审判。