With tax revenue collapsing and expenditure ballooning, the government found itself running such large deficits that the markets were spooked – government-bond prices collapsed, interest rates soared, and the country found itself unable to finance its deficit. Where were the rock-bottom interest rates that are supposed to characterize periods of weak growth and high unemployment?
但是，2009年春，索尔韦斯被迫调转枪头。税收收入大跌和支出膨胀让政府陷入了巨大的赤字中，市场因此恐慌——政府债券价格暴跌，利率暴涨，西班牙无法为其赤字融资。标志低增长、高失业时期的最低利率水平在何处？