This week all eyes have been on Greece. If it defaults, it will be the first EU member to do so.

本周，希腊万众瞩目：倘若违约，希腊将成为欧盟成员国先例。

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The fund would be levered up by offering a kind of state-sanctioned risk insurance on euro zone bonds, which would cover the first 20% of losses if it defaults.

基金将通过为欧元区债券提供类似于国家认可的风险保单，借助民间资金；如果出现违约，基金将承担损失的20%。

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If Brazil defaults on its foreign debt, it will cause ripples throughout the world.

如果巴西不还外债的话，这将在全世界引起连锁反应。

《柯林斯英汉双解大词典》

The job is even tougher because the documents governing a CDO are vague and contradictory about when the different tranche holders get paid--and how much--if it defaults.

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Greece's long-running economic woes have shaken global markets and led to fears the country could crash out of the eurozone single currency if it defaults on its debt.

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If the United States government, for the first time, cannot pay its bills, if it defaults, then the consequences for the U.S. economy will be significant and unpredictable.

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