Why has the European Union suffered so badly in a crisis that began in the US? The answer is to be found in four weaknesses: first, Germany, the EU's biggest economy, is heavily dependent on foreign spending; second, several western European economies are suffering from post-bubble collapses in demand; third, parts of central and eastern Europe are also being forced to cut spending; and, fourth, European banks proved vulnerable to both the US crisis and to difficulties nearer home. Given these realities, recovery is likely to be slow and painful.
一場始於美國的危機,爲何令歐盟(EU)遭受如此重創?我們可以從歐盟自身的四大弱點中找到答案。首先,歐盟最大的經濟體——德國——嚴重依賴外國支出;其次,幾個西歐經濟體正飽受泡沫破滅後需求驟降的折磨;第三,中東歐部分國家也正被迫削減支出;第四,事實證明,無論是在美國的危機、還是在更臨近本土的困難面前,歐洲各銀行都十分脆弱。考慮到這些現實情況,經濟復甦過程可能會是緩慢而痛苦的。