Finally, once the crisis hit, leading to a re-pricing of risks in financial markets, the need to avoid an economic and financial meltdown compelled governments to support aggregate demand and make private liabilities whole. But the disconnection between centralized monetary and decentralized fiscal powers de facto impeded the full use of monetary instruments to meet monetary and financial shocks.
最后，一旦危机爆发，引致金融市场对风险进行重估，避免经济和金融危机的紧迫性会迫使政府支撑总体需求并挽救私人债务。但集中货币与实际分散的财政权力之间的脱节阻碍了货币政策工具充分发挥抵御货币和金融领域冲击的作用。