财政联盟会起到作用么？
It dislikes moves towards fiscal union to save the euro.
它反对为挽救欧元而向财政联盟迈进。
A more fundamental step towards a fiscal union may be needed.
成立一个财政联盟需要更为基本的步骤。
Perhaps a fiscal union that would supervise the issuance of common Eurobonds?
也许一个财政联盟能监督欧洲共同债券的发行？
A monetary union may require more than just a eurobond and a small fiscal union.
一个货币联盟所要求的，可能不仅仅是欧元债券和小规模的财政联盟。
That is a huge step towards fiscal union, one that Europe is ill-prepared to take.
这是迈向财政联盟的一大步，欧洲对此还准备不足。
New York transferred over $950 billion to the rest of America’s fiscal union from 1990 to 2009.
从1990年到2009年，纽约向美国税收同盟其他成员转移超过9500亿美元。
Even the sceptical British say that the "remorseless logic" of monetary union is greater fiscal union.
货币联盟的实质是财政联盟的一种“完美逻辑”就连一向善于怀疑的英国人也为之折服。
European leaders will face an ever starker choice between a break-up of the euro zone and a closer fiscal union.
欧洲领导人们面临一个难以两全的艰难抉择：是脱离欧元区，还是建立一个联系更加紧密的财政联盟。
European politicians need to create a new one, either with a more integrated fiscal union or a break-up of the current euro area.
欧洲政客需要建立全新的联盟，注入新鲜的血液，这或者是一个更加完整的财政联盟，或者是当前欧元区的解散。
There is an alternative scenario, which does address the underlying institutional challenge and that is a fiscal union led by Germany.
还有另外一种可能，确实可以解决根本的机构性挑战，这就是组建一个由德国领导的财政联盟。
Indeed, America's fiscal union is so good at absorbing shocks that it is often cited as a model for the more accident-prone euro zone.
其实，美国的财政同盟十分擅长吸收冲击，都被事故多发的欧元区引为典范。
More than 220 years after Hamilton made his case for a fiscal union, America's national debt no longer answers all of the purposes of money.
在汉米尔顿为财务联盟做得这件事的220年后，美国国债不用再回答类似花钱的目的的问题了。
This will leave two alternatives: fiscal transfers (the dreaded "fiscal union") or the affected countries' withdrawal from the currency union.
最后就只剩下两个选择：财政转移(也就是令人生畏的“财政联盟”)或是受危机影响的国家退出欧元区。
The Economist concedes that our rescue plan begins with a democratic deficit that needs to be fixed if steps towards closer fiscal union are to work.
《经济学人》承认，如果针对财政联盟的措施要起效的话，我们的救援计划需要从国内赤字开始。
German politicians promised their voters that the euro would never lead to fiscal union or tax increases, yet aid to Greece would put those issues on the table.
德国政客向选民保证欧元不会导致财政联盟或是税收增加，但是帮助希腊的行为把问题都摆到了桌面上。
Or should they try to save the euro by creating an unpopular fiscal union, complete with jointly backed Eurobonds?The thought of it is enough to spoil your holiday.
还是应该为挽救欧元而努力创立一个不受欢迎的财政联盟（该联盟包括各国共同支持下的欧元债券）？
Vague plans for a fiscal union seem to depend on a bargain in which Germany agrees to transfer money to debtor countries but the debtors agree to limits on their ability to run a deficit.
建立一个财政联盟的计划还不是很清晰。德国同意给债务国输送资金，而债务国接受对其设定的赤字规模上限，计划的实施好像还要看这场拉锯战的结果。
To address this, European Union countries have agreed in principle to an "ambitious" tightening of fiscal policy, but only from 2011.
为了避免这个窘境，欧盟各国原则上同意加强财政政策的雄伟计划，但要从2011年开始。
Though parts of Europe are dealing with growing debt problems, Denmark's fiscal position has remained among the strongest in the European Union.
尽管欧洲部分地区仍在为日益增长的债务问题而头痛，但丹麦的财政状况仍然是欧盟国家中最强劲的。
The Germans were promised that monetary union would not give rise to fiscal transfers, and would create a currency at least as stable as the Deutschmark.
比如德国就曾允诺说，货币联盟不但不可能会上升为财政调度者，而且将创造一种至少像德国马克一样稳定的货币。
Senior Eurocrats insist they are not about to propose fiscal transfers within a single economic union.
欧盟高级官员坚称，他们还尚不打算提议在单一经济体即欧元区内实施财政转移。
The union has a single currency and monetary policy, but each of its 16 members has its own fiscal policy.
欧元区拥有单一的货币和汇率政策，但16个成员国都拥有各自的财政政策。
The deepest financial crisis in a century has exposed the fragility of a monetary union without a fiscal and economic union.
一个世纪以来最为严重的这场经济危机使欧盟仅仅货币统一，财政经济不统一的缺点暴露无遗。
Mr Papandreou wants to avoid direct confrontation with his trade union supporters, but the need to re-establish fiscal credibility ought to have come first.
帕潘德里欧先生希望避免与他的的公会支持者们直接对峙，但当务之急是重建财政的可信度。
Under a "pact for the euro" there will be economic and fiscal workouts that will allow countries to cope better with the rigours of monetary union-including, for example, greater wage flexibility.
根据“欧元条约”，各国可以进行经济和财政政策的尝试以更好的应对货币联盟中的困难，例如增加工资的灵活性。
Under a "pact for the euro" there will be economic and fiscal workouts that will allow countries to cope better with the rigours of monetary union-including, for example, greater wage flexibility.
根据“欧元条约”，各国可以进行经济和财政政策的尝试以更好的应对货币联盟中的困难，例如增加工资的灵活性。
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