What makes default unpalatable is the fear of contagion—that if Greece were allowed to go under, the cost of borrowing for other troubled euro members would shoot up.

破产不受欢迎是因为怕其蔓延开来--若任由希腊破产，其它处于困境中的欧元区成员国借贷成本将上升。

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Quite to the contrary, increasing the debt still more makes future default only more likely.

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Although there are ISDA rules to cover such events, the sheer size of Lehman in the market (its gross derivatives positions will be hundreds of billions of dollars) makes this default a severe test.

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The complexity of offshore oil drilling or credit-default swaps makes them opaque to all but a select few.

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