经过数月跌宕起伏,一场蔓延欧洲的主权债务危机正在蜕变。为了防止债务危机进一步演变成金融危机乃至经济危机,欧盟、国际货币基金组织和主要西方经济体的中央银行已经联手迎击,但欧元能否度过最严峻的考验依然令人担忧。欧洲债务危机爆发,看似是不严格执行财政纪律造成的恶果,究其实质暴露的乃是以借贷维持的高福利保障制度这一深层弊病。 After months of ups and downs, a sovereign debt crisis spreading Europe is changing. In order to prevent the debt crisis from further evolving into a financial crisis and even an economic crisis, the EU, the International Monetary Fund and the central banks of major western economies have joined forces. However, it remains a cause for concern whether the euro can pass the most severe test. The outbreak of the debt crisis in Europe appears to be the result of not strictly enforcing the fiscal discipline. The essence of the debt crisis in Europe is exposed by the deep-rooted drawback of the high-welfare guarantee system of maintaining loans.