A slew of recent indicators suggests the euro area is slipping into recession, as Germany's exports slow, the fiscal screws tighten, confidence slumps and the banks' travails imply tighter credit.

最近一个又一个的指标表明欧元区正在陷入衰退，如德国的出口缓慢、财政绷紧、信心下降、苦苦挣扎的银行都暗示紧缩的信贷。

Higher interest rates and tighter credit conditions make it harder for poorly performing or outright fraudulent firms to stagger on by loading up on debt.

更高的利率和更严格的信贷条件使业绩不佳或彻头彻尾的欺诈公司更难通过负债累累而蹒跚前行。