债务国

债权国可以逃脱的制造通货膨胀，但是没有一个债务国直言不讳的政策。

A creditor nation could get away with an outspoken policy of creating inflation & but not a debtor nation .

简而言之，对于多数私人债权人、债务国以及多边机构而言，相对于阿根廷那种拙劣的纾困计划，有序重组（就像巴基斯坦和乌克兰在1999年以及乌拉圭在2002年所经历的那样）效果更好。

In short , orderly restructurings – as happened in Pakistan and Ukraine in 1999 and Uruguay in 2002 – are better for most private creditors , the debtor nation and multilateral institutions than an Argentine-style botched bail-out .

我们不能让债务国管理全球金融体系，他表示，IMF更像一个债务国的货币组织。

We cannot let debtor nations manage the global financial system , he said . The IMF is more like a debtor monetary organisation .

这样一来IMF就可以接手欧洲央行在做的工作，后者大胆收购债务国债券需要适当的财政政策支持。

The Fund could then take over the work of the ECB , whose courageous buying of indebted countries ' bonds requires adequate fiscal policies .

它们还将必须创建一个财政框架，允许跨境转移、解决债权国和债务国之间的冲突，并支持“没有代表权就没有税收”（notaxationwithoutrepresentation）的波士顿原则。

They will also have to create a fiscal framework that allows for cross border transfers , resolves conflicts between creditors and debtors and supports the Bostonian principle of " no taxation without representation " .

结果是实施紧急融资项目，这些项目在很大程度上遵循了国际货币基金组织（IMF）对债务国强制实施的条件中的严格标准。

The consequence has been emergency financing programmes , which have largely followed the rigorous standards of the International Monetary Fund in the conditions they have imposed on debtor countries .

正如约翰梅纳德凯恩斯（johnmaynardkeynes）解释的那样，除非债务国能扩大出口，否则它们必然要么借钱还债，要么廉价出售本国资产。

As John Maynard Keynes explained , unless debtor countries can export more , they must pay either by borrowing or by selling off domestic assets .

1944年，约翰梅纳德凯恩斯（JohnMaynardKeynes）极力主张，拟议中的新汇率体制需要债权国和债务国对半分担解决一切失衡问题的责任。

In 1944 John Maynard Keynes argued forcefully that the planned new exchange rate regime required symmetrical obligations on creditor and debtor countries to deal with any imbalances .

作为一个债务国的财长，汉克保尔森（hankpaulson）决心“忠于”外国投资者，尊重他们的投资理念。

As Treasury Secretary of a debtor nation , Hank Paulson was determined to keep the faith with foreign investors , honouring the assumptions on which they invested .

实际上，主权债务国正经历一场类似于国际货币基金组织（imf）计划的救助，而没有伴随在国内需求放缓的背景下将资源转向出口以促进增长所必需的货币贬值。

In effect , sovereign debtors are undergoing the equivalent of an International Monetary Fund programme without the devaluation that is necessary to shift resources into exports to generate growth in the context of deflated domestic demand .

印度官员警告，g20正在分裂成两个团体，一边是美国与英国这样的债务国，另一边是以中国为首的拥有巨额外汇储备的债权国。

Indian officials have warned that the G20 is split between debtor countries , such as the US and the UK , and creditor nations , led by China with its large foreign exchange reserves .

G20代表了世界主要的债务国和债权国，以及最具战略影响力的国家。固定的G20框架将敲响七国集团（G7）的丧钟。

A permanent G20 structure , representative of the major debtor and creditor countries and the most strategically powerful ones , will sound the death knell of the Group of Seven leading industrialised nations .

在OMT之前，投机者和卖空者享受的几乎是稳赚不赔的单向赌注：怀着欧元区终将解体的想法，不断推高债务国的债券收益率。

Pre-OMT , speculators and short sellers enjoyed a near one-way bet : driving up bond yields in debtor countries on the notion that the euro would break up .

这是信贷危机发生15个月以来，国际货币基金组织（imf）等多边机构首次同意对欧洲国家实施求助表明债务国从信贷匮乏市场融资所面临的紧迫困难。

It is the first time in the 15-month credit crunch that multilateral agencies such as the International Monetary Fund have agreed to help bail out European countries a clear sign of the acute difficulties debtor nations face raising finance from credit-starved markets .

德国小报《图片报》（bildzeitung）曾经对德拉吉钟爱有加，以至于送给后者一顶普鲁士尖顶头盔，但如今却炮轰欧洲央行给债务国开出“空白支票”。

Bild Zeitung , the German tabloid that once was so enamoured with Mr Draghi that it presented him with a Prussian spiked helmet , now thunders that the ECB has written " a blank cheque " to debtor countries .

美国&最大的资本输入国和最大债务国

The United states : the biggest capital importing and debtor nation

在惩罚挥霍无度的债务国的同时，这种做法也伤害了本国民众。

In punishing profligate borrowers , they also damage their own citizens .

它们认为自己有权对债务国的愚蠢行为加以训诫。

They believe they are entitled to lecture debtors on their follies .

但美国是一个债务国。

The US , however , is a debtor .

如果我们忘记了债权国与债务国关系的相互特点，那将是危险的。

We forget the mutual nature of the creditor-debtor relationship at our peril .

第二，债权国必须承担损失，而债务国则需要进行调整。

Second , creditors need to take a hit , and debtors adjust .

我们看到，国际债权国和债务国之间正展开一场利益之战。

We are witnessing a battle between the interests of international creditors and debtors .

现在，政府破产也会危及债务国央行的偿付能力。

Government insolvencies would now also threaten the solvency of debtor country central banks .

无论是对债权国还是债务国而言，欧元解体的经济成本都将高得惊人。

The economic costs of a breakup would be staggering for creditor and debtor nations .

近几年来，类似基金已从债务国获得约10亿美元的偿款。

Similar funds have won an estimated $ 1bn from debtor nations in recent years .

首先，这种私下里为债务国融资的方式无法持续太久。

First , this backdoor way of financing debtor countries cannot continue for very long .

欧元区解体的经济后果将是令人震惊的，无论对债权国还是债务国都是如此。

The economic consequences of a break-up would be staggering both for creditor and debtor nations .

债务国的公民受到紧缩的重击，很有可能重蹈覆辙反对欧盟；

Battered by austerity , the citizens of debtor countries could easily go the same way .

但债务国和债权国也都必须达成一致：即欧盟值得去挽救。

But debtors and creditor countries alike must also agree that the EU is worth saving .

随着赤字累积，美国成为巨大的债务国。

As these deficits have piled up , the country has become a huge net debtor .