我的第二个论点涉及政策与金融市场的互动方式——现代宏观经济模型都没有涵盖这一点。
My second argument concerns how such a policy would interact with the financial markets – which are not accounted for in modern macroeconomic models.
金融市场经过了它自有的乐观时期和悲观时期的周期循环，但幸运的是，它们没有在同一时间同时经历这些时期。
The financial markets experience their own cycles of optimism and pessimism, but thankfully, they won't all go through these cycles at the same time.
金融市场经过了它自有的乐观时期和悲观时期的周期循环，但幸运的是，它们没有在同一时间同时经历这些时期。
The financial markets experience their own cycles of optimism and pessimism, but thankfully, they won’t all go through these cycles at the same time.
这些差异突出表明了欧盟采用全部20种官方语言所造成的问题，但它并没有导致金融市场的崩溃。
The divergences, highlighting the problems of working in all 20 European Union official languages, have not caused a meltdown in financial markets.
如果预测的一些事情并没有成为现实，那么这些理论就会被摒弃而且我们也有很多，很多，与金融市场有效论相反的例子。
If some of the things they predict don't come true, the theory has to be disregarded and there are many, many, many counter examples to financial market efficiencies.
富人没有必要储蓄，因为有金融市场正为其代劳。
The rich need not save because financial markets are doing their savings for them.
大部分今年曾经令金融市场一度惊恐万分的危险都没有出现。
Most of the dangers that frightened financial markets during the year have failed to materialise.
不过，他却没有料到，这种货币如此迅速的成为一个避难所，由于深感全球金融市场的动荡，惶恐的投资者们纷纷涌入这里。
But he had not anticipated that the currency would so soon become a bolt hole for panicky investors fleeing turmoil in world financial markets.
在年初这个理论开始出现裂缝，金融市场开始表现得没有按李的公式的预期运行。
Cracks started appearing early on, when financial markets began behaving in ways that users of Li's formula hadn't expected.
他们也没有过度依赖金融市场或衍生品——幸运的是，当时尚未发明。
Nor did they depend on an excessive deference to financial markets or to derivatives, which had mercifully not been invented.
虽然全球经济增长和金融市场复苏的速度快于去年夏季的预期，但美联储和欧洲央行似乎并没有准备冒险。
Although global growth and financial markets are rebounding more quickly than was expected last summer, the Fed and the European Central Bank don't appear to be taking any chances.
不过富豪们也的确在大把花钱，似乎没有受到金融市场动荡的影响。
Yet the rich are truly spending, seemingly unrattled by the quakes in the financial markets.
中国灰色金融市场的历史很长，一些小型的、非正式的和不合法的团体将资金流入那些银行没有很好覆盖的领域。
China has a long history of gray-market financing flowing from small, informal and unregulated groups, to sectors not well covered by Banks.
虽然他依然唠叨金融市场的无根据谣言(而且他说的有道理)，但是萨帕特罗先生更加务实，他主张：“要彰显还债能力，没有什么比公开透明更好的了。”
While still grumbling about unfounded rumours in financial markets (and he has a point), a more realistic Mr Zapatero argued: "There is nothing better than transparency to demonstrate solvency."
Shiratsuka先生认为稳定性的利益并未渗透出金融行业产生外溢效应，它也没有改变人们对于金融市场的感觉认知，那就是通货紧缩将会持续存在。
But Mr Shiratsuka argues that the benefits of stabilisation were not transmitted outside the finance industry. Nor did it change the perception in financial markets that deflation would persist.
莱曼兄弟(Lehman Brothers)的破产有没有伤害到金融市场？
两个旨在将财政赤字从占GDP的12.7%削减到8.7%的瘦身计划并没有说服希腊的欧盟伙伴，或其金融市场。
Two austerity packages had failed to convince Greece’s European partners—or the financial markets—that measures to cut the budget deficit this year from 12.7% of GDP to 8.7% would work.
她亲近的顾问没有一个是金融市场专家。
None of her close counsellors is expert in financial markets.
看起来没有东西不是中国制造的，但是最近的金融市场危机却没有中国的份。
IT OFTEN seems that everything is made in China, but certainly not the latest turmoil in financial markets.
新兴市场投资者们也指出厄瓜多尔在人口和金融市场的重要性上是个小国家。他们主张把厄看成某个预兆是错误的。在其他市场上迄今还没有“感染效应”的迹象。
Emerging-market investors also point out that Ecuador is a small country, in terms of both population and importance to financial markets. They argue it would be wrong to see it as a harbinger.
全球金融市场对于美国可能没有足够的资金来履行金融债务的前景感到非常紧张。
Global financial markets have been nervous over the prospect that the us might not have enough money to meet its financial obligations.
当把这些都考虑进来，范尼梅和弗雷德马克在次贷金融市场的份额即便是那几年也没有增加。
When these are taken into account, Fannie and Freddie's share of the sub-prime market financing did increase even in those years.
这个世界从来没有见过资本以如此大的规模和速度逃逸，竟足以造成金融市场和经济体系的崩溃。
Never before had the world seen capital flight on such a scale and speed, causing financial markets and economies to collapse.
这个世界从来没有见过资本以如此大的规模和速度逃逸，竟足以造成金融市场和经济体系的崩溃。
Never before had the world seen capital flight on such a scale and speed, causing financial markets and economies to collapse.
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