So the only realistic and sensible solution is an orderly and market-oriented – but coercive – restructuring of the entire Greek public debt. But how can debt relief be achieved for the sovereign without imposing massive losses on Greek banks and foreign banks holding Greek bonds?
所以，唯一现实有效的解决方案就是，由官方协调，市场主导，对希腊的全部公债进行有序重组。然而如何才能既清理了主权债务，又避免希腊的银行和持有希腊债券的外国银行遭受巨亏呢？