The larger cushion would allow the Banks to absorb greater haircuts on their sovereign debt holdings and deflect market skepticism as to their solvency.

因为更强大的缓冲机制有利于银行消化进一步削减主权债务带来的压力，化解市场对其清偿能力的疑虑。

youdao

HOW much does Mr Market dislike Greece's sovereign debt?

希腊的主权债务有多不招市场待见？

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Without forcibly cramming down the creditors, Europe could improve the incentives for debt buy-backs by finally instructing regulators to mark sovereign debt to market in bank stress tests.

欧洲不需要强迫债权人，就可以通过最终要求监管机构在进行银行压力测试时对主权债务按市价计值，来增强债务回购的激励。

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This partially reverses the positive impact that the triggering of the CDS default will have on the European sovereign debt market.

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And Spain may be facing a bona fide secession crisis from Catalonia, which would likely mean a meltdown in the Spanish sovereign debt market.

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Representatives from the Italian central bank and stock regulator Consob were set to hold discussions on "the sovereign debt market situation and implications for the banks and the economy".

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