The euro is crumbling. Does this mean that the single currency project is nearing its end? Not quite. In fact, if well managed, the euro's depreciation is just what the doctor ordered to complement the much-needed fiscal consolidation in Greece as well as in the rest of southern Europe. Somewhat paradoxically, a weaker euro is the precondition for its survival.
欧元正在大跌。这是否意味着单一货币事业即将走到尽头？未必。事实上，对希腊及其它南欧国家来说，如果管理得当，欧元贬值恰是可与亟需的财政整固措施配伍的一剂良药。说来有些矛盾，贬值是欧元维持生存的先决条件。
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