????但卡泰蘭不只是西班牙的問題，也是整個歐洲面臨的一個問題，因為這預示歐元區構建一個財政聯盟將遇到極大的困難。如果加泰羅尼亞居民不愿將他們的財富重新分配給臨近的西班牙省區，那么如果分配給塞爾維亞或塞浦路斯，他們會作何感想？而且，如果西班牙拒絕為了1,000億歐元救助而修復經濟結構性問題，什么才能讓他們將財政權力交給法蘭克福？

????眼下，西班牙向市場傳遞的一個信息非常有力：歐洲確實沒有準備好，也不是非常迫切地想構建一個更強大的財政聯盟。鑒于此，歐元可能難逃一劫。

????譯者：早稻米

????Yet the Catalan issue is not only a problem for Spain, it is also a problem for the whole of Europe as it suggests that the eurozone is going to have a very hard time forming a fiscal union. If Catalonians have a problem with redistributing their wealth to a neighboring Spanish state, how would they feel if it is redistributed to, say, Slovenia or Cyprus? And if Spain refuses to fix the structural problems in its economy for a 100 billion euro, what would it take for them to give up their fiscal power to Frankfurt?

????For now, Spain is sending a powerful message to the markets that Europe is indeed neither ready nor desperate enough to form a stronger fiscal union. With that the euro could be potentially doomed.