主权债务违约

据称，这些投机者通过推高cds（防止主权债务违约的一种保险）价格，抬高了各国必须为债券支付的收益率。

By pushing up CDs prices ( a CdS insures against sovereign default ) , it is alleged that they jack up the yield that countries must pay for their bonds .

2012年7月，欧洲央行（ECB）不得不出手干预，承诺将不惜一切代价保护欧元区完整性、防止意大利等国出现主权债务违约。

The European Central Bank had to intervene in July 2012 to promise to do whatever it takes in order to protect the integrity of the eurozone and prevent a sovereign default of Italy and others .

尽管EBA没有正式承认有哪个国家可能违约，但考虑到希腊身陷危机、市场对其它欧盟国家（可能发生危机）感到担心，EBA现在急于对可能发生的主权债务违约做出应对。

With Greece in crisis and the markets jittery about other EU nations , the EBA is keen to address the possibility of sovereign risk , though it does not officially acknowledge that a country could default .

火海是主权债务违约以及货币自主。

The deep blue sea is sovereign default and monetary sovereignty .

对冲德国主权债务违约风险的成本已经上升。

Germany 's sovereign debt default risk hedging costs have increased .

相关风险包括通胀、主权债务违约和政治风险。

Among the risks are inflation followed by sovereign debt default and political risk .

或许这个评价遗漏了一个最重要的可能性：主权债务违约。

Perhaps the most important possibility omitted by this assessment is that of sovereign default .

实际上，此案再次说明亟需一种更好的方式来管理主权债务违约。

Indeed the case once again illustrates the need for a better way of managing sovereign defaults .

显然有人认为，2012年前发生欧洲主权债务违约/重组/纾困在所难免。

Someone out there clearly thinks a eurozone sovereign default / restructuring / bail-out by 2012 looms large .

其次，大力支持欧元区银行，确保他们经受住主权债务违约危机。

Second , it has to shore up Europes banks to ensure they can withstand a sovereign default .

在欧洲，欧元与希腊主权债务违约风险之间的关联几乎是完美的。

In Europe , the correlation between the euro and the default risk of Greek sovereign debt is almost perfect .

不过，如果欧洲人现在无法接受节衣缩食的日子，最终他们将面对比这糟糕得多的后果主权债务违约、银行纷纷倒闭。

Yet if Europeans do not accept austerity now , they will eventually be faced with something far more shocking sovereign debt-defaults and collapsing banks .

在围绕美国是否应该提高国债上限的政治角力白热化之际，交易员和投资者加大了针对美国主权债务违约的保险产品的购买力度。

Traders and investors have stepped up purchases of insurance against a US sovereign debt default , amid heated political wrangling over raising the US debt ceiling .

俄罗斯计划在在未来数月以外币借贷，这是该国自1998年宣布主权债务违约从而引发金融地震以来的首次。

In coming months , Russia is seeking to borrow in foreign currency for the first time since it defaulted on sovereign debt in1998 , triggering a financial convulsion .

到2011年，大规模刺激计划和产出损失将令这一比例突破100%，这引发了人们对主权债务违约的担心，尤其是在南欧。

Huge stimulus packages and output losses will push this above 100 per cent by 2011 , raising concerns over a sovereign debt default , especially in southern Europe .

主权债务违约与一个令人忧虑的根本性问题相关，也就是风险加权资本要求，它涉及对不同类型资产的安全性做出判断，而分析也正是建立在此要求之上。

This bears on a fundamental concern : risk-weighted capital requirements , on which the analysis is based , involve making judgments about the safety of different types of assets .

当美国正在为经济二次探底的风险坐立不安、欧洲正四处寻找下一场主权债务违约危机的迹象时，亚洲却信心十足。

As the US frets about the possibility of a double-dip recession and Europeans scour the horizon for signs of the next sovereign debt default , Asia is in confident mood .

显然，欧洲纾困基金获得的数千亿欧元注资，不足以帮助整个欧元区抵御银行破产和主权债务违约的威胁。

It was clear that the hundreds of billions of euros committed to European bailout funds have not been enough to ward off the threat of collapsing banks and sovereign defaults across the eurozone .

在希腊这样的国家，这种问题尤为突出。希腊存在体制内的特权阶级，而巨额债务和可能发生的主权债务违约都由普罗大众承担。

These problems are especially marked in countries such as Greece , where the system has privileged insiders while saddling the rest of the population with enormous debts and the prospect of sovereign default .

如果欧元区能够启动改革，让自己未来得以更好地运行，而不再是一台不断在弱小成员国制造金融机构和主权债务违约的机器，信心就会恢复。

If the eurozone introduced reforms to make it work far better in future , rather than to continue as a machine for generating financial and fiscal insolvencies in weaker countries , confidence would return .

结果将是随即而来的极度震荡，退出国遭遇重重困境&大批企业破产、巨额的主权债务违约，全球股市一时陷入恐慌。

The result will be extremely messy in the immediate aftermath , bringing severe hardship to the exiting countries & a rash of bankruptcies , giant defaults on sovereign debt , and temporary panic in world stock markets .

它将包含财政联盟的一些要素，比如银行破产机制、对银行业展开联合监管、以及主权债务违约程序，但它在本质上将不同于我们现在所知的任何方案。

It would contain a few elements of a fiscal union , such as a bank resolution regime , joint bank supervision , and sovereign default procedures , but it would be qualitatively different from anything we know .

如果次贷危机在欧洲重演，欧洲银行业具有强大的政治影响力&但财力不足，透明度不高，若出现主权债务违约的最糟情形，将受严重冲击。

In a replay of the subprime crisis here , the banks in Europe are politically powerful & but financially weak , largely opaque and highly exposed to the worst case scenario , in this case a sovereign default .

去年夏天，美国国会与白宫为了就提高债务上限以避免主权债务违约的问题达成协议而争吵不休，政策制定者和投资者都在努力预测债券市场将会如何反应。

As Congress and the White House squabbled in the summer of last year over a deal to raise the debt ceiling and avert sovereign default , policy makers and investors struggled to predict how debt markets would react .

希腊本月勉强凑齐了偿还国际债权人的资金，但到4月底其现金储备就会告罄，如果它未能与欧元区达成新的改革方案，就有可能在下月发生主权债务违约。

Greece has scraped together funds to repay international creditors this month but will exhaust its cash reserves by the end of April , raising the possibility of a sovereign default next month if it fails to agree a new reform package with the eurozone .

然而，眼下的债务危机极有可能导致主权债务违约、银行挤兑甚至欧洲金融体系崩溃，这时候展开另一场关于欧盟未来设计的辩论，时机恐怕并不恰当，尽管这是一个引人关注的主题。

But with a debt crisis threatening to cause sovereign defaults , bank runs and the implosion of the European financial system , it was a peculiar time to stage yet another debate about the future design of the EU fascinating subject though that is .

OECD探讨了由欧元区主权债务无序违约而引发的下行前景。

The OECD explores a downside scenario that starts from a disorderly sovereign default in the eurozone .

外围国家的主权债务将违约。

The sovereigns in the periphery would default .

此外，主权债务的违约风险也并非希腊独有。

Meanwhile , the default risk on sovereign debt is not confined to Greece .

这份报纸并不赞成最富有的国家轻易的在主权债务上违约。

This newspaper does not advocate the first rich-country sovereign defaults in half a century lightly .