Temporal-spatial Fix, Accumulative Model and European Sovereign Debt Crisis

This paper regards the sovereign debt crisis of Euro-zone as the crisis of overlyaccumulated capital, and holds that, to deal with the crisis, European countries have been growing into two blocs: the countries driven by export accumulation with spatial fixes, such as Germany, and those by finance-debt accumulation with temporal fixes, such as UK,Ireland and PIGS, etc. These two blocs, impacted by EMU, which functions favourably to the former but unfavourably to the later, have transformed the global financial crisis into the European sovereign debt crisis and two different crisis-solving measures.