It suggests that austerity alone is no route to solvency in a chronically uncompetitive economy.
在一个长期没有竞争力的经济体中,单靠财政紧缩是要可能恢复偿债能力的。
Markets have lost faith that the euro zone's economies, weaker or stronger, will one day converge thanks to the discipline of sharing a single currency, which denies uncompetitive members the quick fix of devaluation.
人们曾信,欧元区经济体,无论弱国或强国,只要本着使用统一货币的原则,就能避免了那些缺乏竞争力的国家采取货币贬值这一权宜之计,就能有朝一日实现统一——如今市场已经丧失了这种信念。