此外，财政紧缩可能在未来数年内影响总需求，资本短缺的银行可能收紧信贷 — — 这对欧洲的以银行为中心的信用中介体系来说是个严重问题 — — 泛欧洲衰退已成不可避免之势。
Moreover, with fiscal austerity likely to restrain aggregate demand in the years ahead, and with capital-short banks likely to curtail lending – a serious problem for Europe’s bank-centric system of credit intermediation – a pan-European recession seems inevitable.