即便如此，这向计划显现的对抵押贷款持有者的待遇要好于拥有主要按揭贷款的投资者，因为当优先抵押差额减少时，前者不需要削减本金。
Even so, the plan appears to treat second-lienholders better than investors in the main mortgage, because the formerare not required to cut principal when first-lien balances drop.
萨科奇先生一直反对默克尔女士有关私人债券持有者应当受到一些损失的观点，他宁愿采取自愿延长付款期限的计划。
Mr Sarkozy has resisted Mrs Merkel's view that some pain should be imposed on private-sector bondholders, preferring a voluntary rollover scheme.
这看起来是证实最初德国计划的恢复，那个计划鼓励债券持有者用已存在的希腊债券去交换新7年期的债券。
This appears to confirm the revival of the original German plan to encourage bond-holders to swap existing Greek bonds for new seven-year obligations.
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