The day of reckoning – when the euro breaks up or Europe takes the kind of definitive action that would make a single currency work – may come in 2012, but, more likely than not, Europe’s leaders will do whatever they can to postpone that day of reckoning. Europe will suffer, and so will the rest of the world.
清醒之日——当欧元分崩离析或欧洲采取了断然措施使得单一货币继续运行时——大概会在2012年到来，但更有可能的是，欧洲领导人会竭尽所能推迟清醒之日的到来。欧洲将承受苦难，世界其他地区亦然。