Yet the euro's external balance concealed a huge internal divide between places like Germany, with excess savings, and countries such as Spain and Greece, with huge current-account deficits.
但是欧元对外的平衡却掩盖了一些国家与国家之间巨大的内部差距。比如德国拥有多余的储蓄，而西班牙和希腊却负担着庞大的经常项目赤字。
To assess the absolute risk of a crisis you need to estimate external-financing needs (defined as the sum of the current-account balance and the stock of short-term debt) over the next 12 months.
为评定危机的绝对风险需要估计外部筹资需求（定义为经常账户余额和股票短期借款的总和）在接下来的12个月中。
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