在法国，信用卡公司创建了 EMV，部分原因是电话垄断的效率低得令人抓狂，而且价格昂贵。

In France, card companies created EMV in part because the telephone monopoly was so maddeningly inefficient and expensive.

youdao

英镑的贬值也将减弱通货紧缩的压力，不然此压力有可能加剧信用危机，因为当价格开始下降时，按实值计算的债务负担则会增加。

The fall in sterling will also blunt deflationary pressures that might otherwise exacerbate the credit crisis, since when prices start falling the burden of debt rises in real terms.

youdao

至少，这是市场的看法，这是根据如果借款人违约而需要支付的信用违约掉期的价格而得出的结论（见图表）。

That at any rate is the market view, according to the price of a credit-default swap which pays out if the borrower defaults (see chart).

youdao

That's a brilliant market timing device that-- I think enlightened people thought that those prices were getting high-- and also made some play on credit spreads and now on real estate, he said.

这个决策的市场时机非常正确,有见识的人都觉得,那时网络股的价格太高了,他们也参与了信用利差交易,现在又转向了房地产

耶鲁公开课 - 金融市场课程节选