This step was necessary, but it produced unintended adverse consequences: many other countries, from Eastern Europe to Latin America, Africa, and Southeast Asia, could not offer similarly convincing guarantees. Abetted by the determination of national financial authorities at the center of the world economy to protect their own institutions, capital fled from the periphery.
此项措施是必要的，但它却无意造成了不利后果：从东欧到拉丁美洲、非洲以及东南亚，许多国家无法同样提供令人信服的担保。由于受到世界经济中心各国金融机构决定保护自己的金融机构、资本领地免遭外围损害的怂恿，货币贬值，利率上升，信贷违约互换飙升。当这次金融危机被编入史册时，它将被如此记录下来：与大萧条期形成鲜明对比，保护主义首先在金融领域盛行，而不是贸易领域。