Europe may be better off with stop-gap measures. If confidence in Italy or Spain deteriorates again, the eurozone may have to resort to the traditional bridge between weak credibility and low-cost financing: a temporary International Monetary Fund-style monitored reform program.
权宜之计或许能令欧洲受益。如果意大利和西班牙的信心继续恶化，欧元区将可能不得不依靠传统的低信誉-低成本过桥贷款：IMF式的、暂时性、受监督的改革计划。