We do not know how to handle the fiscal issues posed by the financial crisis. Doubts about the sustainability of government debt produce sudden surges in interest rates, as risk premia rise dramatically with perceptions of the likelihood of default.
我们不知道如何处理金融危机引发的财政难题。对政府债务可持续性的质疑导致债券息率飙升，对违约可能性的觉察使得风险溢价大涨。这些上涨曲线非常陡峭，因此极具干扰性。