Little Iceland had banking liabilities worth close to ten times its GDP, all piled up by its own Banks and mostly in foreign currency.

冰岛这个小国背负的银行债务接近其GDP的10倍，都是由该国银行累积起来的，并且大多都是外汇债务。

youdao

The fact that interest rates are close to all-time lows and investors have piled into low yielding fixed income instruments the last several years, suggests to me that deflation is not a likely outcome.

FORBES: Interest Rates, Equities And Bonds: Getting Ahead Of The Curve