不过母行在分支所在国发生违约的状况下仍有相当机会可以避免承受全部损失，而可将其一部分推给当地债权人承担。

But in a default scenario there is a real chance that parent companies might avoid taking the full hit, pushing part of it instead onto local creditors.

youdao

从技术上说，违约造成损失，但将不是希腊债务的全部赖账，理论上，可以控制住蔓延。

While technically a default, the loss would not be an outright repudiation of Greece's debt and the contagion could, in theory, be contained.

youdao

违约将导致希腊所有的大银行全部倒闭，因为它们是希腊债券最大的持有人。

That would cause all of the major Greek Banks to collapse, as they are the largest holders of Greek debt.

youdao