“Whatever it takes” is not a bad motto for the fight to save the eurozone. And the same goes for the new European stability fund, which fills a yawning gap in the institutional fabric of the eurozone. But for this to work, we need clarity about which fights to fight and which instability to stabilise. And this is where the proposed reforms are likely to fail.
對旨在拯救歐元區的戰鬥而言，「盡一切努力」是個不錯的口號。新的歐洲穩定基金亦是如此，該基金填補了歐洲機構組織中一個不斷擴大的缺口。但要使其發揮作用，我們必須弄清楚要打的是哪些仗，要穩定的是哪些不穩定因素。而在這一點上，擬議中的改革可能無法取得成功。
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