It is difficult to see how the cycle of austerity, economic contraction, contagion, and financialretrenchment can be broken without the promise of substantial ECB support for sovereign debts.
This kind of understanding has great significance in solving many problems in educational practice for our nation under the background of the current global education financialretrenchment.
这种诠释，在当今全球教育财政普遍紧缩的背景下，对解决我国教育实践中诸多问题具有重要意义。
3
Not with the financial system in virtual lockdown, and much of the world in a similar state of retrenchment, shrinking demand for American goods and services.