用欧洲债券部分替换国家级别债务可能在债券发行的同时能够为面对偿付困境的国家减少债务偿付的边际成本。
The partial substitution of national debt with European bonds might reduce the marginal debt-service cost for distressed countries while they are being issued.
金融产业将不会在短期内改回额外的边际要求，并且即使那样，投资者也不会立即认为意大利的债务是“毫无风险的”。
The finance industry will not soon reverse its extra margin call and even if it did, investors are not about to treat Italian debt as "risk free".
由于资本成本高低不同，权益筹资和债务筹资必须符合不同的边际资本产出水平条件。
Because of different costs of capital, equity financing and debt financing must satisfy their own required levels of marginal capital output.
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