Greece has returned to global capital markets for the first time since the eurozone crisis erupted in 2010, attracting big demand for its government bonds in a sign of growing confidence in the region’s weakest economies.
希腊自2010年欧元区危机爆发以来首次重返全球资本市场，该国政府发行的债券吸引了大量需求，这表明人们对欧元区几个最弱经济体的信心正在增强。
Investors rushed to place 11bn of orders for the five-year bonds yesterday, just four years after its debts triggered an international crisis that threatened to destroy the euro.
昨天，投资者竞相认购110亿欧元的五年期国债。而就在四年前，希腊债务还曾引发一场威胁到欧元生存的国际危机。

Following a painful period of austerity and the biggest debt restructuring in history, Greece achieved a primary surplus in 2013. But with high levels of unemployment, it remains the weakest link in the 15-year old currency union.
在经历了一段痛苦的财政紧缩时期以及史上最大规模的债务重组之后，2013年希腊实现了基本盈余。不过，失业率居高不下的希腊仍是有15年历史的货币联盟中最薄弱的一环。
As if to underline the fragility, the country’s unions embarked on a nationwide anti-austerity strike yesterday, forcing schools to close and bringing parts of the public transport network to a standstill. News of the debt sale was barely reported in Athens due to television blackouts.
昨天，仿佛是为了凸显出希腊的这种脆弱性，该国工会组织了一场反紧缩政策的全国大罢工，导致学校停课，公共运输网部分瘫痪。由于电视停播，有关希腊国债销售的新闻在雅典几乎没有报道。
The 11bn order book is about four times higher than the amount Greece is expected to raise. Bankers were predicting a yield of between 5 per cent and 5.25 per cent, lower than some analysts had forecast.
110亿欧元的国债销售规模差不多是希腊募资预期的4倍。银行家们预计其收益率将在5%到5.25%之间，低于部分分析人士之前的预测。
Antonis Samaras, Greece’s prime minister, is keen to show that Greece is able to borrow money independently of its troika of international lenders – the European Central Bank, the IMF and the European Commission. The bond will be governed by UK law in an attempt to attract investors who fear that they could be wiped out by another debt restructuring.
希腊总理安东尼斯•萨马拉斯(Antonis Samaras)急于表明，希腊有能力独立借款，不靠三大国际贷款方，即欧洲央行(ECB)、国际货币基金组织(IMF)和欧盟委员会(European Commission)。为吸引那些担心被又一场债务重组搞得血本无归的投资者，希腊最新国债将适用英国法律。
One Athens banker said today would be a moment for “rejoicing”, especially if the yield was below 5 per cent. He said Greek banks were excluded from the five-year issue because it “was important to tap foreign investors to send the message Greece is back”.
雅典一位银行家表示，今天将是“欢乐的”时刻，尤其是如果收益率低于5%。他表示，希腊各银行被排除在五年期国债发行对象范围外，是因为“有必要向外国投资者传递出希腊已恢复正常的信号”。
Greece is taking advantage of falling borrowing costs across Europe amid growing speculation that the ECB is set to embark on a round of quantitative easing.
随着越来越多人猜测欧洲央行将启动一轮量化宽松，整个欧洲的借贷成本正在不断下降，希腊正利用这一点。
Greece’s benchmark borrowing costs on the 10-year bond hit more than 30 per cent after the debt restructure in 2012, but have fallen below 6 per cent.
2012年债务重组后，希腊的基准借贷成本——10年期债券收益率曾达到30%以上，但这一数字已跌至6%以下。
However, Alan Wilde, head of fixed income at Baring Asset Management, said: “I still can’t see why anyone would want to own Greek debt. Greece comes into the category where it renegotiated but did not repay the debt that it owed.”
不过，霸菱资产管理公司(Baring Asset Management)固定收益产品主管艾伦•王尔德(Alan Wilde)表示：“我还没发现人们想要持有希腊债券的任何理由。希腊属于那种会重新谈判而不会偿付所欠债务的国家。”