在欧洲债券的基础上,银行开发出许多变异的新产品.

Banks have developed other variations on the Eurobond.

欧洲债券会比各国的国家债券的平均利率更低吗?

Would European bonds carry lower interest rates than the average rates for national bonds?

用欧洲债券部分替换国家级别债务可能在债券发行的同时能够为面对偿付困境的国家减少债务偿付的边际成本。

The partial substitution of national debt with European bonds might reduce the marginal debt-service cost for distressed countries while they are being issued.

其次，这种欧洲债券的购买者应该比私债购买者享有优先求偿权。

Second, the European bonds would be senior to private claims.