信用违约互换是投资者对冲或押注无法偿还债务企业的金融衍生品。
Credit default swaps are derivatives that investors use to protect against, or bet on, an entity being unable to repay its debts.
这就是为什么每次由人为的过度信贷造成的繁荣出现之后就会出现过度而无法偿还债务的违约。
That's why every boom caused by excess, artificial credit is followed by a bust of excess, unpayable debt.
主权信贷违约掉期（一种押注某个国家无法偿还其借款的可能性的方式）在信贷活动中的角色也引发了相当大的争议。
The role of sovereign credit-default swaps (CDS), a way of betting on the likelihood of a country’s failure to repay the money it has borrowed, has proved particularly controversial.
去年11月，迪拜令投资者震惊地警告称，可能无法偿还迪拜世界全部债务，随后求助于阿布扎比，帮助自己免于债务违约。
Dubai shocked investors last November when it warned that it might not be able to service all of Dubai World's debt obligations and later turned to Abu Dhabi to help ward off a default.
一种类型的风险是违约风险，即惜款者仅仅由于不诚实或完全没有还款能力而无法偿还贷款所带来的风险。
One type of risk is default risk, that is, the risk that the borrower will simply not repay the loan, due to either dishonesty or plain inability to do so.
一种类型的风险是违约风险，即惜款者仅仅由于不诚实或完全没有还款能力而无法偿还贷款所带来的风险。
One type of risk is default risk, that is, the risk that the borrower will simply not repay the loan, due to either dishonesty or plain inability to do so.
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