Greater co-ordination and exhortation may help. But Mr Barroso and Mr Juncker and their promise of more European governance ultimately lack the persuasive power of the bond markets.

更多的协作和劝告或许有用，但是巴佐罗先生和容克先生以及他们对更多欧洲治理的承诺终究还是缺乏债券市场的说服力。