The euro's crisis boils down to this: national treasuries do not have enough spare cash both to guarantee outstanding debt and maintain their own credit ratings.
欧洲所面临的危机可以归结为以下几点:国家财政缺乏足够的富余资金去担保未偿债务,维持他们的信用等级。
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When the cost rises, sellers of such insurance, including banks and big insurers such as AIG, must put up extra cash as collateral to guarantee they'll be able to make good on their obligations.