一个完全统一的欧元区债券市场将极为庞大——市值约为8万亿欧元(10.5万亿美元),接近美国债券市场的规模——从而也将极具流动性。
A fully mutualised euro-zone debt market would be enormous-at 8 trillion euro (10.5 trillion dollar), not far short of America 's-and thus very liquid.
由于缺乏统一的债券市场,欧洲债市的吸引力不及美国,而希腊和葡萄牙等欧洲国家的债务违约风险显然更高。
Europe's lack of an integrated bond market makes it less attractive than the U. S., and the risk of default in countries like Greece and Portugal is clearly higher.
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