What the country owes is referred to as its national debt, or sovereign debt.

一个国家所欠的债务被称为国家债务或主权债务。

In both 2010 and 2011 Europe's sovereign debt crisis flared up, damaging confidence in America.

在2010年和2011年里，欧洲主权国家的债务危机愈演愈烈，甚至打击了美国对金融市场的信心。

So U.S. Treasury bonds, for example, that is sovereign debt.

例如，美国国债就是主权债务。

He famously saved the euro during the eurozone sovereign debt crisis.

他在欧元区主权债务危机期间拯救了欧元，这一点是众所周知的。

America is home to the world's biggest sovereign debt market.

美国是世界上最大的主权债务市场的所在地。

Britain's sovereign debt is not flashing red with bankruptcy risk.

英国的主权债务并没有因破产风险而闪烁红光。

Of course, sovereign debt restructuring is more complicated than that, but you get the basic idea.

当然， 主权债务重组比这更复杂，但你明白了基本的想法。

And it actually has to do with debt, specifically sovereign debt, which is the money that countries borrow.

它实际上与债务有关，特别是主权债务，即各国借入的资金。

Familiar measures from the corporate-bond market do not mean the same thing when applied to sovereign debt.

来自公司债券市场的常见指标在应用于主权债务时并不意味着同样的事情。

The rising risk of recession will damage a fragile European banking sector, which already faces potential losses of around €200 billion from higher risk on sovereign debt, according to new IMF estimates.

根据国际货币基金最新估计，由于更加危险的债务危机，欧洲银行已经面临大约2000亿欧元的潜在损失，而经济衰退的风险持续上升，则将损害到本就已经十分脆弱的欧洲银行业。

Think of tricky customers like Argentina, whose profligacy made it a serial defaulter on its sovereign debt, or Turkey, where interest rates remain low even as inflation blazes above 80%.

想想狡猾的客户， 比如阿根廷，其挥霍无度使其成为主权债务的连续违约者， 或者土耳其， 即使通货膨胀率超过 80%， 利率仍然很低。