不论欧洲的问题是暂时性的还是基础性的 — — 比如，欧元区远非“最优”货币区，且自由贸易和人口自由流动地区的税收竞赛会拖垮原本健康的国家 — — 紧缩肯定只能让情况更加糟糕。
Regardless of whether Europe’s problems are temporary or fundamental – the eurozone, for example, is far from an “optimal” currency area, and tax competition in a free-trade and free-migration area can erode a viable state – austerity will make matters worse.