But the euro’s depreciation is too recent to have made much difference yet. Historical evidence, not to mention Japan’s experience with a falling yen, suggests that it takes several quarters, or even years, before the positive impact of currency depreciation on net exports is felt.
但讨论欧元贬值所产生的巨大影响还为时过早。历史证据——更别提当年日元贬值的经验教训——表明在人们感知到货币贬值的积极影响之前往往要经历数个季度，甚至数年。