关键词: 多层次区域治理 , 主权债务危机 , 预算赤字 , 政府债务 , 欧元区

Abstract: Based on data from the Eurostat, this paper analyzes the causes and manifestations of the European sovereigndebt crisis, and then studies the EU multilevel regional governance in depth. Unreasonable industrial structure, large trade deficit, unbalanced government payment, and the coexistence of common monetary policy and decentralized fiscal policies in the EU member countries in crisis are the key causes, and the global financial crisis is the accelerator. The European multilevel regional governance is the harmonized joint governance between the supernation institutes and the sovereign nations, which is composed of shortterm bailouts, mediumterm adjustments and reforms and longterm early warning mechanisms, and considered as a good example for global governance.   

Key words: multi-level regional governance , sovereign-debt crisis , budget deficit , government debt, euro area