瑞银集团首席执行官塞尔吉奥·埃尔莫蒂对CNBC表示，为应对法国日益严峻的债务危机，必须采取“强硬措施”；他警告称，仅靠“小幅、渐进式的调整”是远远不够的。
UBS CEO Sergio Ermotti has told CNBC that "hard measures" are needed to tackle France's spiraling debt crisis, warning that "small, incremental changes" will not be enough.
周二，埃尔莫蒂在接受CNBC《Squawk On The Street》节目采访时，将当前欧洲债券市场的动荡局面与2011年的欧元区主权债务危机相类比，并指出鉴于法国经济体量庞大，此次问题可能更难解决。
Speaking to CNBC's "Squawk On The Street" on Tuesday, Ermotti compared the ongoing turmoil in Europe's bond market with the eurozone's sovereign debt crisis in 2011, warning that the size of France's economy means that its problems could be trickier to tackle this time round.
“过去10到15年间，西班牙、意大利、希腊和葡萄牙都经历过类似的危机，如今这些国家都已成为欧洲表现最出色的经济体，”埃尔莫蒂说道。他同时指出，目前面临债务压力的其他欧洲国家或许也需要采取类似措施，才能重新走上可持续增长的轨道。
"We went through similar situations in the last 10 to 15 years in Spain, in Italy, in Greece, in Portugal," Ermotti said. "These countries that went into a big crisis are now the best performing countries in Europe." Other parts of Europe now facing a debt squeeze may now require "something similar" to "restore a credible path to growth".
当被问及这是否意味着实施紧缩政策时，埃尔莫蒂回应称：“必须采取强硬措施才行……仅靠小幅调整根本无法解决堆积如山的债务问题。”近期，由于欧洲范围内出现主权债务抛售潮，加之投资者对法国财政状况愈发担忧，法国国债收益率持续攀升。
Asked if that meant austerity, Ermotti said: "It needs to go through hard measures… incremental small changes are not going to be enough to resolve the big debt pile." Yields on French government bonds — known as OATs — have jumped in recent weeks amid a broader sovereign debt sell-off in Europe, as investors grow increasingly concerned about the country's fiscal position.
周二下午，法国10年期基准国债收益率在小幅回落9个基点后仍维持在4.7689%的水平。目前，法国的借贷成本甚至已高于希腊和意大利。
France's benchmark 10-year note yield stood at 4.7689% on Tuesday afternoon after easing 9 basis points. Borrowing costs are now higher in France than in Greece and Italy.
极右翼总统候选人玛丽娜·勒庞周二承诺将大幅削减开支以控制债务规模，同时警告称法国最终可能面临债务违约的风险。
Far-right presidential candidate Marine Le Pen on Tuesday pledged huge spending cuts to get debt under control, warning that France ultimately risks defaulting on its debt.
费德伦德·赫米斯基金公司的跨境信贷主管米奇·雷兹尼克在周二发布的报告中指出，法国已迅速成为欧洲债券市场危机的核心焦点；他还表示，目前市场正逐渐将法国债务视为“更接近欧洲外围国家水平而非核心国家水平”的资产。他补充道，投资者纷纷抛售法国国债转而购入安全性更高的德国国债，这进一步拉大了两国国债收益率的差距。
Mitch Reznick, head of cross-border credit at Federated Hermes, said in a Tuesday note that the country has quickly become the prime focus of the continent's bond woes, and suggested its debt is increasingly being priced "less like core Europe and more like the periphery." He added investors are abandoning French government bonds for quality in German Bunds, which is magnifying the spread between the two.
雷兹尼克指出，目前欧洲央行仍不太可能采取干预措施，但他补充道：“如果利差持续扩大，央行的措辞可能会开始发生变化。”
Reznick said the European Central Bank remains unlikely to intervene at this point — but added that "its language could start to change" if spreads continue to gap out.
“目前法国10年期国债与德国国债的利差已升至140个基点以上。随着总统大选临近，市场焦点也转向了法国高额债务、巨额预算赤字、债券发行量增加以及政治局势的不确定性，”雷兹尼克说道。
"The OAT-Bund spread has moved above 140 basis points, as attention turns to France's high debt, large budget deficits, increased bond supply and political uncertainty ahead of the presidential election," said Reznick.