A balanced deal is more likely to be accepted by voters, in both creditor and debtor states, and to assuage markets.

平衡的协定更可能为债权国或债务国的选民所接受，而且可以安抚市场。

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Hidden guaranty endorsement usually does not have true relation of business between creditor and debtor, but endorser cannot refuse to undertake the bill duty.

隐存保证背书通常没有真实的交易关系和债权债务关系，但背书人不得因此拒绝承担票据责任。

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There is the asymmetric information between the creditor and debtor in the process of borrowing or lending money, which leads to the moral hazard. Moral hazard is the cause of credit risk.

信贷过程中存在贷款人与借款人之间的信息不对称，从而导致信贷过程中出现道德风险。

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Few disputes offer the opportunity for genuinely different perspectives and revisionist history like an argument between a creditor and debtor.

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But deeper political union could provoke a backlash, in both creditor and debtor countries, that brings the whole system crashing down.

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That would result in a eurozone dominated by Germany in which the divergence between the creditor and debtor countries would continue to widen and the periphery would turn into permanently depressed areas in need of constant transfer of payments.

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