The second, and more important, reason for the Franco-German struggle to postpone a Greek default is the risk that a Greek default would induce sovereign defaults in other countries and runs on other banking systems, particularly in Spain and Italy. This risk was highlighted by the recent downgrade of Italy’s credit rating by Standard &amp;
而法德两国奋力推迟违约的第二个（也是更重要的）原因就是希腊违约将引发其他国家（尤其是西班牙和意大利）的主权债务违约以及银行系统危机。而这一风险在标准普尔最近调低意大利主权评级一事中可见一斑。