The flood of easy money disguised the hard truth that the competitiveness of the peripheral economies, gauged by measures like unit Labour costs, had steadily worsened after joining the euro.
大量容易取得的廉价资金掩盖了一个危险的事实：在加入欧元区以后，边缘经济体的竞争力——以单位劳动力成本为衡量指标——一直逐步下降。
The flood of easy money disguised the hard truth that the competitiveness of the peripheral economies, gauged by measures like unit Labour costs, had steadily worsened after joining the euro.
大量容易取得的廉价资金掩盖了一个危险的事实：在加入欧元区以后，边缘经济体的竞争力——以单位劳动力成本为衡量指标——一直逐步下降。
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