This lack of fiscal muscle makes creditors wary of buying emerging-market bonds during bad times.

新兴市场国家财政力量的缺乏使债权人在经济不景气时期购买这些国家债券的时候显得尤为小心。

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Last month, Mr Persson unveiled a plan to run budget surpluses in good times so that he could loosen fiscal policy in bad times without breaching the pact's 3% limit.

ECONOMIST: Keeping the krona | The

Euro-area fiscal rules could also allow governments to spend more in bad times as long as they save more in good times, said Harvard University economist Jeffrey Frankel.

WSJ: Troubles in Euro Zone Offer Chance to Fix Its Flaws