QE3 could be state and local debt.
QE3可能是国家和地方的债务。
The figures for state and local debt are scary too.
联邦州和地方债务的数字也是很可怕的。
In Mexico a quarter of the long-dated local debt is held by foreigners.
在墨西哥四分之一长期本地债券由外国人所有。
Transferring all foreign-currency debt into local currency could cost 7% of GDP, the central bank reckons.
据中央银行估计，将所有的外国货币债务转移到本货币将会消耗GDP的7%。 紧张的投资者将无法恢复信心。
And I can say that this debt, at the local level, is still within a range that we can manage.
但我也能说，这些地方的债务水平，也是在我们可控的范围内。
And I can say that this debt, at the local level, is still within a range that we can manage.
但我也能说，这些地方的债务水平，也是在我们可控的范围内。
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