There is something inconsistent in bailing out the banking system once again and then "bailing in" holders of sovereign debt after 2013 by introducing collective-action clauses.

通过集体行动条款来再一次救援银行体系，等到2013年之后再“捞出”主权债务持有者，在这中间存在着矛盾之处。

youdao

So Germany is being urged to stand behind the euro by accepting the pooling of sovereign debt and collective action to shore up the banking system.

ECONOMIST: Charlemagne

Japan's failure to clean up its banking mess, or to punish those who caused it, partly reflects its system of collective responsibility, under which everybody and nobody is responsible at the same time.

ECONOMIST: Japanese banking

The Nobel Peace Prize, as much of the world keeps holding its collective breath, fearing that the potential collapse of the Eurozone, exits of member states, region-wide banking crisis, half-steps and dithering by European leaders could drag the global economy deeper into the mud and tear Europe into pieces yet again?

FORBES: Cynics Be Gone; Europe Deserves Its Nobel Peace Prize