As such, these hidden banking losses are actually quasi-fiscal deficits, rather than traditional non-performing loans.

因此，这些银行体系中的隐性亏损实际上是准财政赤字， 而不是传统意义上的不良贷款。

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Therefore, central bank should control the Quasi-fiscal operations in reasonable scale, and compare the efficiency of financial operations with Quasi-fiscal operations.

应将央行“准财政”行为控制在合意“财力”水平之内，并比较财政行为与“准财力”行为的政策效率。

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To avoid it just being a sticking plaster it would have to come with large amounts of fiscal transfer, as suggested on 21 July, in the form a quasi-Marshall Plan (since eurobonds are off the agenda due to the German court ruling).

BBC: What might a Greek default look like?