In the second stage, starting in the spring of 2009, the crisis spread to the sovereigns, as investors grew increasingly worried that propping up banks would strain government finances. In turn, sovereign weakness made the banks appear riskier, and the banks and their home governments became joined at the hip.
第二阶段始于2009年春，危机蔓延到主权债务，因为投资者越来越担心支持银行会拖累政府财政。反过来，主权弱势导致银行风险增加，银行和母国政府成了一条绳上的蚂蚱。