A Euro LIBOR does exist, but mainly for continuity purposes in swap contracts dating back to pre-EMU times.

欧元伦敦银行同业拆借利率确实存在，但这要追溯到前欧洲货币联盟时代出于连续性目的而进行的互换。

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The mechanism, endorsed in 2000 in Chiang Mai, Thailand, already exists in the form of bilateral swap contracts between eight nations.

该机制于2000年在泰国清迈签署，已经以双边互换协议的形式在8个国家之间实行。

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This downward spiral may have been exacerbated by Europe's efforts to cut the value of Greek sovereign debt without triggering a payout on credit-default-swap contracts.

欧洲尝试在不必为信贷违约掉期合同埋单的情况下削减希腊主权债务，这更加剧了下行螺旋。

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In fact, DB lost a case in Germany for inappropriately selling swap contracts to German small businesses.

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On Tuesday, CME Group and Citadel announced they would be creating an electronic trading platform for credit-default-swap contracts.

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This downward spiral may have been exacerbated by Europe's efforts to cut the value of Greek sovereign debt without triggering a payout on credit-default-swap contracts.

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