Moreover, the new federal bonds’ very long maturities meant that there was no rollover risk. It would have been very dangerous to expose the federal government to this danger, given that the operation was rightly perceived at the outset as extremely risky.
此外，新的联邦债券极长的到期期限意味着不存在展期风险。联邦政府暴露于这一风险之下是十分危险的，如果这一操作从一开始就被正确地意识到风险极高的话。