战略决策研究

希腊等欧元区国家的主权债务危机可以说是欧洲区域一体化建设中的独特现象,其折射的是欧元区所存在的一个结构性问题:奉行单一货币政策和各国分散的财政政策,集中暴露出了欧洲货币一体化与欧洲福利资本主义的不相容、以及统一货币运行所要求的财政紧缩与欧元成员国经济增长和福利制度之间的矛盾与冲突;欧元不会就此瓦解,但欧债问题的最终解决困难重重;欧元的未来取决于自由与市场的回归欧洲,取决于欧盟的制度完善与欧式福利资本主义改革的成功与否。

Sovereign-debt crises in Greece and the other Eurozone countries, which reflects the structural problems of Eurozone, is an unique phenomenon in Europe integration. The crises has exposed the problems rising from pursuing the single monetary policy and decentralized fiscal policy of individual countries. There are incompatibilities between the European monetary integration and European welfare capitalism, and conflicts between the fiscal austerity required in the single monetary policy and economic growth in the euro member states and their welfare systems. The euro will not collapse as a consequence. However, it will be difficult to ultimately solve the European debt problem. Euro’ s future depends on the freedom and market return to Europe; it also depends on the EU’s improvement of institution and reform of the welfare systems.