sovereign risk

With Greece in crisis and the markets jittery about other EU nations, the EBA is keen to address the possibility of sovereign risk, though it does not officially acknowledge that a country could default.

尽管EBA没有正式承认有哪个国家可能违约，但考虑到希腊身陷危机、市场对其它欧盟国家（可能发生危机）感到担心，EBA现在急于对可能发生的主权债务违约做出应对。

And the European experience has already taught both parties what even a small dose of sovereign risk can do to credit and equity markets& especially to counties with heavy foreign debt.

而欧洲的经历早已使美国两党明白，即便是“小剂量”的主权风险也会对信贷市场及证券市场造成严重的影响&尤其是对于负有沉重外债的国家而言。

When trading desks see prices on long-term contracts with sovereigns start to fluctuate, they begin demanding traders take out sovereign credit default swaps, to hedge or lay off that risk.

当交易部门发现与主权国家的长期合约价格开始波动时，就会要求交易员进行信用违约互换，以对冲或者消除这种风险。

Going abroad: how to deal with sovereign risk

走出去企业如何应对国家风险

Markets reacted badly, unhappy at the convergence of sovereign and banking debt risk and a lack of clarity about bailout terms.

市场反应消极，对主权及银行债务风险的融合以及纾困条款不清晰感到不满。

But markets of late have been characterised by mass selling alternating with waves of buying, as investors upgrade or downgrade the risk of the US slipping into recession, or a financial crisis sparked by a European sovereign default.

但近来，随着投资者上调或下调美国经济陷入衰退、或欧洲主权违约引发金融危机的风险，市场上出现了群起抛售和竞相买进轮流转换的态势。

Control Risks a risk consultancy has seen a big increase in mandates from insurance companies and other financial institutions seeking to understand the part politics plays in sovereign default risk.

风险咨询公司Control Risks近期来自保险公司及其它金融机构的委托大增，对方都希望了解政治在主权违约风险中扮演的角色。

This was subsequently modified in Basel II, to give banks some theoretical discretion to raise reserves against sovereign risk.

后来的《巴塞尔协议ii》（basel ii）对这一点进行了修改，理论上授予银行一定的自由裁量权来增加针对主权风险的准备金。

This liquidity problem is compounded by worries about the default risk of some euro-area sovereign bonds, says Stephen Jen, a currency analyst at Morgan Stanley.

对欧元区某些公债的违约风险之担心更使这一流动性问题雪上加霜–大摩的货币分析师Stephen Jen如是说。

When regulators drew up the Basel I capital adequacy framework in the 1980s, for example, they gave Western sovereign bonds a "zero risk" weighting, in terms of how capital is calculated.

举例来说，监管机构上世纪80年代制定《巴塞尔协议i》（basel i）资本充足率框架时，就在资本金的计算方面赋予西方主权债券“零风险”权重。

Sovereign strains in Europe have become an increasing concern, potentially impacting the United States through financial markets and, in a tail risk scenario, trade links, the fund said.

IMF表示：欧洲主权压力已成为一个越来越严重的问题，可能会通过金融市场以及（在尾部风险假设中）贸易关系影响美国。