像德国总理默克尔提出的那样，等到2013年才来实施重组，会摧毁市场信心，因为那时候公债持有人不得不割掉更大的一块“肉 ” 。
Waiting until 2013 to implement these restructurings, as German Chancellor Angela Merkel proposes, will destroy confidence, as it implies a much larger haircut on residual private claims on sovereign borrowers.