The orthodox policy prescription was to extend conventional bridge loans to these countries, thereby giving them time to fix their budget problems and undertake structural reforms aimed at enhancing their long-term growth potential. This approach has “worked” in Spain, Ireland, and Portugal, but at the cost of epic recessions.
正统政策药方是扩大给这些国家的常规过桥贷款，从而让它们获得时间解决预算问题并采取结构改革以增强长期增长潜力。这一方针在西班牙、爱尔兰和葡萄牙获得了“成功”，但代价是巨大的衰退。但是，三驾马车的政策没能稳定希腊经济，更不用说使之复苏了。