But this solution was detrimental to financial stability in the rest of Europe, because it signaled that the €100,000 threshold below which deposits are guaranteed was not sacrosanct. Legally, of course, this guarantee is only worth the solvency of the guarantor – in this case the near-bankrupt Cypriot state.
但这一方案对欧洲其他地区的金融稳定不利，因为这表明10万欧元门槛以下的储户不再受神圣不可侵犯的担保。当然，从法律上说，担保无非是担保者的偿付能力——在这个例子中是濒于破产的塞浦路斯国。但担保的废除仍将具有巨大的象征意义，激发整个欧洲的忧虑。