The politicians who planned the euro generally did not think about future current account imbalances or other economic problems.
大体上来说,设计欧元的政治家们并没有考虑过未来的经常账户失衡问题或其他经济问题。The fear was that if these were to unwind rapidly, with confidence evaporating in the US economy and the dollar, the outcome would be grim.
人们担心,一旦贸易失衡状况迅速纾解,外界对美国经济和美元的信心消散,后果将相当严重。Yet I find it hard to believe that we are about to see a dollar collapse and an over- abrupt adjustment of global imbalances.
然而,我难以相信美元汇率将会暴跌,也难以相信全球失衡会出现过于突然的调整。To illustrate why IP systems tend to get out of balance, imagine a simple society including you and me.
为说明知识产权体制为何易于失衡,请想象一个简单的社会,其中只有你和我。Thus, the question of imbalances within the eurozone is inescapable, however much Germany may wish to resist such a discussion.
因此,欧元区内部失衡的问题是不可避免的,无论德国多么希望抵制这种言论。This is a serious risk in the Baltics, but elsewhere most economies do not display the same sort of financial imbalances.
这是波罗的海国家的严重风险,但其他多数国家没有呈现同类型的金融失衡状况。If the price of the commodity is severely out of balance with the costs of production, these price increases could be very large.
如果商品的价格同生产成本严重失衡,价格上涨幅度将非常大。A plan for dealing with budget imbalances "has to be put in place" as the new administration and Congress craft a stimulus plan, he said.
他说,目前得解决财政失衡的计划“只能被放到一边”,因为新政府和国会忙于打造刺激计划。Second, the higher imbalances themselves could sow the seeds of a new financial crisis just as they helped sow the seeds of the last crisis.
其次,失衡加剧本身可能会播下新的金融危机的种子,正如它们帮助播下上次危机的种子一样。