With falling prices for Italian and Spanish government debt, those countries 'banks find it hard to finance themselves in private debt markets, and their share values have sunk like stones. 随着意大利和西班牙政府债券价格不断下跌,这些国家的银行发现自己很难在私人债券市场融资,同时这些银行的股价也直线下跌。
Public and private debt is still rising in most eurozone countries. 多数欧元区成员国的公共和私人债务水平仍在上升。
In Germany, frugality has been a feature of the private sector since 2000& yet it is unclear that this was the result of a balance-sheet recession, since private debt was never high. 自从2000年后,节俭已经成为德国私人部门的一种特色。由于德国的私人债务从未过高,我们也不清楚这是否是资产负债表衰退的结果。
The first set stresses the post-crisis overhang of private debt and the damage to confidence caused by the sudden disintegration of the financial system. 第一种解释强调后危机时期的巨额私人债务,以及金融体系突然崩溃对信心的伤害。
The repeated use of fiscal measures to support demand made private debt more supportable, but also increased public debt levels. 重复使用财政措施来支撑需求,增强了私人债务的可承受性,但同时也提高了公共债务水平。
Risk spreads on private debt have not widened. 私人债务的风险息差并未扩大。
New problems could emerge from the build-up of private debt, the result of years of easy money. 新问题可能产生于私人债务的累积,这是多年宽松货币的结果。
They have fuelled growth in private debt and equity. 它们推动了私人债务和股本领域的增长。
The new banking Union plans may thus turn out to be another large step towards the transfer of distressed private debt on to public balance sheets something which pleases the capital markets and may help to explain their new confidence. 而建立银行业联盟的计划或许会更进一步地让不良私人债务向公共资产负债表转移,这是资本市场乐意看到的,或许也解释了他们恢复信心的原因。
Meanwhile, persistently weak economies mean a growing mountain of bad private debt, high fiscal deficits, rising public debt, high interest rates and extremely fragile financial systems. 与此同时,经济持续疲软将导致私人部门不良债务堆积、大规模财政赤字、公共债务规模上升、利率高企以及极度脆弱的金融体系。
Above all, growth must restart if the burden of public and private debt and the close links between such debts and the banks are to be managed. 最重要的是,要应对公共部门和私营部门的债务重担,以及这些债务与银行之间的密切联系,就必须重启增长。
Spain and Ireland, which was put on negative outlook by Moody's last month, are considered the most in danger of losing their prized triple A ratings because of the amount of private debt that has built up in these countries. 上月,穆迪将西班牙和爱尔兰的信用前景评为负面,这两个国家被视为最有可能失去其宝贵的AAA评级的国家,因为两国积累了大规模的私人债务。
The dangers from too much private debt depend on whether the excess is in household debt chiefly Ireland or non-financial business Portugal and Spain. 过多私人债务的危险程度,取决于这种过度是否存在于家庭债务领域主要是爱尔兰或者非金融公司葡萄牙和西班牙。
Government debt paper provides a benchmark yield against which private debt issues can be priced. 政府债务票据提供的基准收益,可用作私营机构发债的定价叁考。
Greece will simply default, and this will put several German and French banks that hold large chunks of Greek sovereign and private debt at risk. 答案是希腊只能违约,并把德国和法国数家持有大量希腊主权债务及私人债务的银行拖入险境。
Indeed, we now know that the distinction between private deficits and debt and public deficits and debt is far less absolute than the fiscal priesthood understands: private debt becomes public debt and private deficits become public deficits very swiftly. 实际上,现在我们知道,私人部门的赤字和债务与公共赤字和债务之间的差别,远非财政“祭司们”以为的那样绝对:私人债务和赤字可以非常迅速地转变为公共债务和赤字。
Worse, much private debt is secured against assets; 不止这些,很多私人债务都是由财产担保的;
It says private debt and equity in mature markets are expected to grow more slowly, more in line with gross domestic product, as households and businesses reduce their debt burdens and corporate earnings fall back to long-term trends. 该机构表示,随着家庭和企业削减自身的债务负担、公司利润跌回长期趋势水平,预计成熟市场私人债务与股本的增长速度将放缓,且将更接近国内生产总值(GDP)的增长速度。
But, when private lenders tighten the noose, notionally private debt tends to turn into public debt, as governments try to rescue imploding financial systems and sustain activity in collapsing economies. 但是,随着政府试图纾困即将内爆的金融体系,维持面临崩溃的经济活动,当私人放贷机构收紧放贷的时候,名义私人债务倾向于变成公共债务。
By the standards of their European peers, French banks have a high exposure to Greek public and private debt. 以欧洲同业的标准而论,法国的银行对希腊公共和私人债务的敞口很大。
It has raised both public and private debt burdens, since the ability of households, firms and governments to service their debt depends upon their nominal incomes and revenues. 由于个人、公司和政府的还款能力取决于他们的名义收入或盈利,名义GDP的下跌增加了公众和私人的债务负担。
Particularly vulnerable were economies that attracted big private debt inflows, which triggered a rapid expansion of domestic credit, stoking inflationary pressures. 尤为脆弱的是那些吸引了大量私人债务流入的经济体,这将触发其国内信贷市场的急剧膨胀,加剧通胀压力。
Monetary policy is not self-evidently the most reliable instrument for tackling the implosion of a prior private debt explosion. 并没有明显证据表明,货币政策是应对私人债务在激增后内爆的最可靠工具。
Thus, in seeking new vulnerabilities, we need to look for economies that have had sharp rises in private debt. 因此,在寻找新的脆弱性时,我们需要寻找经历了私人部门债务大幅上升的经济体。
This occurs via mass bankruptcy, unless bad private debt is shifted on to the public sector's balance sheet. 除非私人坏账被移至公共部门的资产负债表上,否则上述情况便会以大规模破产的形式出现。
It is a matter of simple arithmetic to work out that the new layers of state debt to deal with the credit crisis are not a substitute for private debt, but an addition to it. 这是一个简单的算术问题,为解决信贷危机而增加几层政府债务,非但不能取代私人债务,反而会增加私人债务。
This means aggressive monetary and fiscal policies, working in combination, along with interventions aimed at recapitalising banks and accelerating restructuring of private debt. 这就意味着需要结合激进的货币和财政政策,同时进行旨在对银行进行资本重组和加速私人债务重组的干预。