European efforts to encourage a speedier appreciation of the Chinese renminbi will step up a gear this month amid concern the euro is bearing the brunt of global macroeconomic adjustments.

由于担忧欧元在全球宏观经济调整中正首当其冲，本月欧洲方面鼓励人民币加速升值的努力将升级。

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The creation of the euro was proclaimed the logical next step in this process.

创立欧元被宣称为这一进程中符合逻辑的下一个步骤。

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There is, however a three-step program, that would manage the crisis and strengthen the euro in the long term.

不过，这有一个“三步走”计划倒是可以控制这场危机，并从长远来看还可以加强欧元地位。

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This would be an important step in resolving the euro crisis.

ECONOMIST: Charlemagne

The ECB's bond-buying programme may save the euro but it is also a step towards the permanent division of Europe into debtors and creditors, he said.

BBC: Soros calls for Germany to 'lead or leave euro'

The problem for financial markets is that the action itself is like so much else related to the euro story another small step, when the consensus is calling for a giant leap out of crisis mentality.

WSJ: Central Banks' Action