Germany keeps being told that it must pay up to save the euro. But how much can Germany pay? No one seems to have thought about that, but there is already concern about the possible size of the bill. German bond yields rose soon after news of the Spanish bailout, even before it was announced where the money was going to come from. (And it was a bailout for Spain, regardless of what Spain’s prime minister says. If I borrow money and then lend it to someone else, I’ve still borrowed it.)
一直以來不斷有人要求德國必須出資紓困歐元區。但德國到底能擔得起多大規模的紓困？似乎並沒有人思考過這個問題。不過，市場已對紓困可能給德國帶來的財政負擔表示了擔憂。德國國債收益率在紓困西班牙的訊息傳出後迅速走高，儘管有關方面當時還未宣佈紓困資金將由誰提供。（另外還需指出的是，不管西班牙首相怎麼說，此次紓困都是針對西班牙這個國家的紓困。你借款後轉貸給別人，並不改變你借款的事實。）
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