On top of the devastation it wreaked on markets, jobs and human lives, the global financial crisis has turned the field of economics, and particularly the study of finance, on its head.

球金融危机给市场、就业和人们的生活带来了灾难。除此之外，它还颠覆了经济学(特别是金融研究)领域。

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But as long as neither eurozone taxpayers nor the global financial markets are willing to finance their current borrowing, the feeling is that austerity and recession are the best they can do.

BBC: Why is America's fiscal cliff more worrying than Europe's?