It is difficult to see how the cycle of austerity, economic contraction, contagion, and financial retrenchment can be broken without the promise of substantial ECB support for sovereign debts.
如果欧洲央行不为这些主权债务提供实质上的支持，我们很难看到如何打破这一轮严酷的经济收缩，金融风暴，以及财政紧缩的循环。
This kind of understanding has great significance in solving many problems in educational practice for our nation under the background of the current global education financial retrenchment.
这种诠释，在当今全球教育财政普遍紧缩的背景下，对解决我国教育实践中诸多问题具有重要意义。
Not with the financial system in virtual lockdown, and much of the world in a similar state of retrenchment, shrinking demand for American goods and services.
处于实质防备状态的金融系统不允许节俭，况且几乎全球都处于类似的需求紧缩状态，对美国产品和服务需求也在减少。
Between then and now, however, to avoid severe retrenchment Banks and other financial intermediaries will need the support that only the substitution of sovereign credit for private credit can bestow.
不过在那天到来之前，为了防止出现严重紧缩，银行和其他金融中介机构需要得到帮助，用主权信用替代私人信用是唯一的途径。
Eroding consumer confidence was a hallmark of the Asian financial crisis that began in 1997, when falling currency values contributed to painful economic retrenchment in many countries.
消费信心受到侵蚀是1997年亚洲金融危机的主要特点，当时汇率的下降导致许多国家出现严重经济困难。
Eroding consumer confidence was a hallmark of the Asian financial crisis that began in 1997, when falling currency values contributed to painful economic retrenchment in many countries.
消费信心受到侵蚀是1997年亚洲金融危机的主要特点，当时汇率的下降导致许多国家出现严重经济困难。
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