To avoid a persistent and destructive recession, the fiscal and structural reforms imposed by the bond vigilantes should be accompanied by other euro-zone policies that restore growth and prevent vicious debt dynamics. The European Central Bank should ease monetary policy in order to weaken the value of the euro and bootstrap the periphery’s growth.
为防止陷入持续破坏性的经济衰退，债券义和团推行的财政和结构改革必须伴随着其他恢复经济和防止恶性债务趋势的欧元区政策。 欧洲央行应当放松货币政策，以便引导欧元贬值和周边地区的经济恢复。 而德国应当临时减税——而不是像计划中那样增税——以便增加可支配收入并刺激德国对周边地区商品和服务的需求。