A single issuer would make euro-area bonds more attractive to managers of foreign-exchange reserves, who want safe stores of value that can be converted into cash quickly and cheaply in an emergency.

• 某发行国可以使欧元区债券十分吸引对外汇储备经理，他们想要一种安全的价值储藏手段，在紧急时能快速廉价地转换为现金。