两者的问题都是资不抵债，而不仅仅是流动性短缺。
In both cases the problem was insolvency, not just a shortage of liquidity.
但冰岛领导人早就被警告过流动性短缺的潜在危害。
But Iceland's leaders had long been warned of the potential damage of a liquidity squeeze.
危机面前，可怕的不只是流动性短缺，更是决心缺失。
When crisis hits, what is more frightening is not the shortage of liquidity, but the shortage of confidence.
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