That is not what happened, because the euro had other deficiencies of which its architects were unaware. They labored under the misconception that financial markets can correct their own excesses, so the rules were designed to rein in only public-sector excesses.
但事实并非如此，因为欧元还具有其缔造者所未察觉的缺陷。他们是在一个错误的观念下徒劳地工作着——金融市场能够纠正其自身的过剩，因此只需设计解决公共部门过剩问题的规则就行了。而即使在公共部门问题上，他们也过度地依赖于主权国家的自主决策。