But can Europe deliver? The obstacles are daunting. The fiscal room for manoeuvre varies greatly among the member states. The political weights attached to a fiscal stimulus and to fiscal sustainability clearly differ among the core countries, France and Germany in particular. The high degree of economic integration implies strong incentives to free-ride. Reaching a differentiated agreement on who does what could take months if not years, while the urgency is to act now. We therefore propose a three-part European recovery programme.
但欧洲能做到这点吗？面前的障碍令人畏缩。欧盟各成员国运用财政政策的空间大有不同。核心国家在财政刺激和财政可持续性上的政治权重明显不同，尤其是法国和德国。高度的manbetx20客户端下载 一体化隐含强烈的搭便车动机。就各国任务分配达成差异化协议可能需要数月时间，如果不是几年的话。然而，现在需要紧急采取行动。因此，我们提出了一个欧盟复苏计划，分为三部分：
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