If Europe could show – in the worst possible scenario of sovereign default – how such a process might operate, uncertainty would be reduced and markets would be reassured. And, in the longer term, we would have a viable international model of how to tackle severe sovereign-debt problems.
欧洲正面临着史上最严峻的主权违约危机，如果它能证明，它的一套办法行之有效且具有可操作性，就能减轻疑虑，重振市场信心。从长期来讲，也能为处理棘手的主权债务问题树立一个可靠的榜样。