The euro-zone debt crisis, during which all eyes have been on Germany, exposes this cruelly.

欧元区债务危机期间，所有的目光都聚焦在德国的事实将这种权利的转换暴露无遗。

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The entire national debts of Greece, Portugal, and Ireland amount to less than 5 percent of euro-zone debt.

希腊、葡萄牙、爱尔兰三国的债务加起来还不到欧元区债务5%。

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German officials maintain the rules would affect only future bonds, not existing euro-zone debt, which would be repaid in full.

德国官员坚持认为，这些规则只会影响到将来的债券，而不是影响到欧元区的旧债，旧债还是会全额偿付的。

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Other worries also remain, including plunging U.S. corporate earnings and the euro-zone debt crisis.

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So when fears mounted over Italy's solvency last week, investors bailed out of euro-zone debt.

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With the worst of the euro-zone debt crisis seemingly in the past, the euro is rocketing.

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