Europe and America were emerging from the nightmare of financialinsolvency, and praised international bodies as much as they failed to participate fully in them.
欧洲和美洲正逐渐从金融破产的梦魇中走出来,他们不可能完全参与进来,只能尽量赞美国际机构的做法。
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Most recently, they have joined European deficit hawks in calling for further spending cuts to prevent national insolvency - a threat that financial markets have discounted.
Insolvent firms pose a risk to the financial system, but they could also conceivably slow recovery if their insolvency prevented them from making new loans.