A country lacking short-term liquidity would be loth to approach the IMF for a loan under the "stand-by arrangement", the mainstay of the IMF's crisis lending.
一个缺乏短期流动性的国家可能不愿向国际货币基金组织寻求“备用信贷协议”——IMF 危机贷款的中流砥柱。
The mechanism distinguishes a “solvency” crisis from a “liquidity” one, with bondholders in insolvent countries expected to take the brunt of losses, but does not come into force until 2013.
欧洲稳定机制将支付能力危机同流动性危机区分开来;破产国家的债券持有人预计要分担损失,但此项规定到2013年后才会生效。
A punitive stance increases the stigma of being short of liquidity and encourages Banks to hoard cash, making the crisis worse.
惩罚性措施会增加短缺流动资金的耻辱,鼓励银行囤积现金,使得危机更加恶化。
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