One useful means of allaying the panic might be for euro-zone countries to issue part of their debtas joint bonds.

对于欧元区国家来说，一种可能缓解恐慌的有效途径是将他们部分的债务以联合债券的形式来发行。

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With public debt at 120% of GDP, Italy would transfer almost 1 trillion Euro into the fund as existing national debt came due and was replaced by the issuance of joint bonds.

意大利的公共债务占到了GDP的120%，随着国家债务到期日的日益接近，大约有1万亿欧元的意大利债券将转入偿还基金，并由共同担保债券取而代之。

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Prominent federalists like Joschka Fischer, a former German foreign minister, have called on Germany to support joint euro-area bonds, though these might damage the country’s own high credit rating.

一些著名的联邦主义者（例如德国前外长约什卡·菲舍尔[Joschka Fischer]）一直在呼吁德国和欧盟其他国家一起联合发布债券，虽然这一行为会对信誉度较高的德国产生不良影响。

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Mr Rehn talked down the idea of European states issuing joint bonds, saying that austerity and closer co-operation were needed.

BBC: Spain denies 'senseless' IMF bailout rumours

These joint bonds would not require intrusive federal fiscal oversight.

ECONOMIST: The future of the European Union

Rather than issuing new national government bonds, everybody, from Germany (debt: 81% of GDP) to Italy (120%) would issue only these joint bonds until their national debts fell to the 60% threshold.

ECONOMIST: The future of the European Union