第二个预警来自于美国累积的结构性赤字。
A second warning sign lay in America's accumulating structural deficits.
要消除这种结构性赤字需要忍痛把减少开支和增加税收结合起来。
Getting rid of that structural deficit will require a painful combination of spending cuts and tax increases.
英国的结构性赤字比意大利多，但其债务比率却小得多(分别占GDP的43%和105%)。
Britain has a bigger structural budget deficit than Italy, but much less debt (43% of GDP versus 105%).
欧元区公共财政状况也大为好转，复合结构性赤字由2001年衰退前的占GDP2.1%下降到0.7%。
The euro zone's public finances have improved dramatically, from a combined structural deficit of 2.1% of GDP before the 2001 recession to a deficit of only 0.7% of GDP in 2007.
财政赤字通常被划分为周期性赤字和结构性赤字，这样的分类方法是以不规则财政收支为零作为前提。
Budget deficit is usually divided into cyclical deficit and structural deficit, but this classification is assumed that the irregular component in budget is zero.
结构性赤字马上再现，但只要全球存款能保住美国低廉的借钱成本，债券市场似乎就不必在意巨大的赤字了。
Structural deficits soon re-emerged, but the bond market no longer seemed to care, as long as the global savings glut kept America's borrowing costs low.
根据欧元区的稳定和增长公约(SGP)，经济运行的赤字超过GDP的3%则被认为每年削减的结构性赤字应该占gdp的0.5%，否则就将面临罚款。
Under the euro area's stability and growth pact (SGP), economies running deficits larger than 3% of GDP were supposed to trim their structural deficits by 0.5% of GDP per year or face fines.
致力于重塑英国和到2015年消除结构性财政赤字的卡梅伦，无法承受这种力量和精力都被慢慢削弱的代价。
Mr Cameron, who is trying to reshape the British state as well as eliminate its structural fiscal deficit by 2015, cannot afford such enervating distractions.
2000年，美国尚且实现了结构性盈余，而到了2007年，其基础赤字变为GDP的3%。
In 2000 America ran a structural surplus; in 2007 it had an underlying deficit of 3% of GDP.
在危机之前，西班牙的结构性预算赤字一直在允许的范围之内并且债务水平一直在下降。
Before the crisis Spain's structural budget deficit was well within allowable limits and its debt levels were falling.
对于美国来说，结果就是资产价格上涨、宽松的信贷担保标准以及结构性财政赤字，为消费水平不断上涨提供了便利。
For the United States, the consequence was elevated consumption facilitated by asset price inflation, easy underwriting standards for credit and structural budget deficits.
国际货币基金(IMF)推算日本如果要在2030年之前把债务占GDP比降到80%，就必须从现在到2020年之间将其结构性的赤字降低GDP的13.4%。
The IMF reckons that Japan would need to tighten its structural deficit by 13.4% of GDP between now and 2020 in order to bring its debt-to-GDP ratio down to 80% by 2030.
结构性金融赤字无比巨大。
这意味着，随着经济发挥它最大的潜能，减少预算赤字的努力将会化为泡影，而赤字也更具结构性。
That would imply less of the budget deficit will be eroded as the economy expands to its full potential, and that more of it is therefore structural.
在这样做的同时，该区域背负了巨额的结构性经常账户赤字，同时区域内私有和公共部门则必须承担对等规模的总计财政赤字。
In doing so, it runs a huge structural current account deficit while its domestic private and public sectors must run an aggregate financial deficit of equal size.
他将就是否实行高赤字预算与欧盟的盟友争锋相对，但会做一些结构性变化。
He will clash with European friends over running a high budget deficit. But he will try to make some structural changes.
其结果是，它们还会将部分结构性财政赤字转变为周期性赤字。
As a result, they would also have transformed part of the structural fiscal deficit into a cyclical one.
在当前的环境下，协同财政紧缩举措可能会失败：随著经济体趋弱，更大的周期性赤字可能抵消结构性财政紧缩的努力。
Concerted fiscal tightening could, in current circumstances, fail: larger cyclical deficits, as economies weaken, could offset attempts at structural fiscal tightening.
在当前的环境下，协同财政紧缩举措可能会失败：随著经济体趋弱，更大的周期性赤字可能抵消结构性财政紧缩的努力。
Concerted fiscal tightening could, in current circumstances, fail: larger cyclical deficits, as economies weaken, could offset attempts at structural fiscal tightening.
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