The sanctions for misbehaviour were not credible: to threaten a deficit-ridden country with huge fines is like chastising a man hanging on to a cliff by treading on his fingers.

对不端行为的惩罚显得难以真正实行：对于一个负债累累的国家施以巨额处罚无异于对一个吊在悬崖边上的人踩手指。