If Dubai defaults on its debts, it would be the largest sovereign default since Argentina in 2001.
如果迪拜拖欠债务，它将是继2001年阿根廷之后的最大主权债务违约国。
Sovereign default is far from inconceivable.
主权国拖欠债务也绝非天方夜谭。
Not every sovereign default is as convoluted as Argentina's.
不是每支主权债务违约都像阿根廷那样纠结。
More fundamentally, Dubai’s wobble raised the spectre of a sovereign default.
更重要的是，迪拜的动摇燃起了人们对主权债券的恐惧。
More fundamentally, Dubai's wobble raised the spectre of a sovereign default.
更重要的是，迪拜的动摇燃起了人们对主权违约的恐惧。
Speculators anticipate a sovereign default and speculate in this direction via CDSs.
投机者预期主权违约，通过CDS进行违约投机。
Not all of these debts would be affected by a sovereign default, let alone be wiped out.
并非所有这些债务都将受主权违约的影响，更不用说是被消灭。
Rescue proposals in Europe have turned on how ratings agencies define a sovereign default.
欧洲的救助提案已开始将议题转向评级机构是如何定义主权违约的。
Second, it has to shore up Europe's banks to ensure they can withstand a sovereign default.
第二，要力挺欧洲银行，确保他们能够经受得住主权债务违约。
If Dubai defaults on its debts it would be the largest sovereign default since Argentina in 2001.
如果迪拜拖欠债务，它将是继2001年阿根廷之后最大主权债务违约国。
Some creditors fret that the facility's loans will be repaid first in the event of a sovereign default.
一些债权人担心倘若国家违约，该机构的贷款将首先被偿还。
The excessive “convergence” of bond yields over the decade reversed as investors have factored in the risk of sovereign default.
过去十年来债券收益的过度“收敛”随着投资者受到国债违约的威胁而转变。
The excessive "convergence" of bond yields over the decade reversed as investors have factored in the risk of sovereign default.
过去十年来债券收益的过度“收敛”随着投资者受到国债违约的威胁而转变。
The panic revealed another gap in the euro area’s fiscal set-up: a process for dealing with a sovereign default, or the threat of one.
恐慌揭示了欧元区财政建设的另一隔阂：处理国家违约的程序，或者说处理这种威胁的程序。
The panic revealed another gap in the euro area's fiscal set-up: a process for dealing with a sovereign default, or the threat of one.
恐慌揭示了欧元区财政建设的另一隔阂：处理国家违约的程序，或者说处理这种威胁的程序。
In THEORY, fears about the economic damage wrought by a sovereign default should play a big role in disciplining countries considering repudiating their debts.
理论上讲，打算拒绝偿还债务的国家，最大的顾虑是主权(债务)违约会对本国经济造成伤害。
That meant it would cost as much as 236, 000 euros per year for an investor holding 10 million euros of French bonds to protect themselves from a sovereign default.
这意味着如果一个持有1,000万欧元法国债券的投资者要保护自己免受主权债券违约的损失，需要每年支付多达236,000欧元。
Meanwhile Italy’s cost of borrowing, which now falls when Mr Berlusconi wobbles and rises when he looks more secure, has reached levels that point towards sovereign default.
与此同时，意大利的借贷成本在贝卢斯科尼地位不稳时就下跌，在他似乎稍有起色时就上升，它现在已经达到了直指主权债务违约的水平。
Meanwhile Italy's cost of borrowing, which now falls when Mr Berlusconi wobbles and rises when he looks more secure, has reached levels that point towards sovereign default.
与此同时，意大利的借贷成本在贝卢斯科尼地位不稳时就下跌，在他似乎稍有起色时就上升，它现在已经达到了直指主权债务违约的水平。
And you can forget those fiscal targets, In our simulation, the austerity measures are simply overwhelmed by the impact such a huge sovereign default event has on global bond yields.
至于那些财政目标，你可以不管。在我们的模拟试验中，庞大的主权债务违约事件对全球债券收益率的影响使得紧缩措施不堪重负。
One is the chilling specter of sovereign default, something that never should have come up in the United States but did for a while because of the reckless brinkmanship of House Republicans.
一个是可怕的主权违约，一些本不应该出现在美国却因众议院共和党不计后果的边缘政策而存在了一段时间。
Only around 12% of this is sovereign or public debt, but a sovereign default could easily lead to a slew of domestic bank and corporate defaults too, to which the country is far more exposed.
这2300亿欧元中，只有大约12%是主权或公共债务，但是主权债务违约也会很容易引起大量国内银行和公司的违约，这会给该国带来更多风险。
When something goes wrong in the financial markets—a currency crisis, a housing collapse or a sovereign default—they are quick to be blamed, their shadowy character making them ideal scapegoats.
当金融市场出现诸如货币危机、房地产崩溃或者主权债务危机等问题的时候，由于他们神秘的特性使之成为替罪羊。
Then they said that banks would not need recapitalising because sovereign nations would never default. They now seem to be facing reality on this score.
然后他们又说，银行不需要进行资本重组，因为从未有过主权国家违约的，现在这个说法也正面临严峻的现实。
There is a clear temptation for the West to extricate itself from the errors of the Greenspan asset bubble, the Brown credit bubble, and the EMU sovereign bubble by stealth default through inflation.
西方人有一种明显的倾向，希望通过通货膨胀造成的隐性违约，摆脱格林斯潘的资产泡沫、布朗信贷泡沫和欧洲货币联盟主权泡沫。
The immediate worry is that Spain and Italy are now borrowing money at unsustainable rates and may be forced into the kind of slow-motion default on sovereign loans that is happening in Greece.
近期的担忧是目前西班牙和意大利正以无法支撑的高利率借贷，很可能被迫变为缓慢的主权贷款偿还拖欠，正如现在希腊的情况。
The massive selloff in U.S. markets on Thursday appears rooted in Europe as fears of a sovereign debt default in Italy and Spain caused traders to panic and run for cover.
上周四，美国股市出现大幅抛售，根源或许来自欧洲，因为对意大利和西班牙主权债务违约的担忧造成市场恐慌，投资者纷纷抛售股票以避免损失。
The massive selloff in U.S. markets on Thursday appears rooted in Europe as fears of a sovereign debt default in Italy and Spain caused traders to panic and run for cover.
上周四，美国股市出现大幅抛售，根源或许来自欧洲，因为对意大利和西班牙主权债务违约的担忧造成市场恐慌，投资者纷纷抛售股票以避免损失。
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