What happens when an economy runs out of fiscal space? The presumption is embodied in the image of “hitting the wall”. Under this assumption, public debt exceeds a certain limit and financial confidence collapses. As a result, interest rates rise, the currency falls and panic ensues. At times this scenario holds true – for economies with sizeable foreign-denominated public debt or for economies that create political breakdowns.
manbetx20客户端下载 体缺乏财政空间(fiscal space)会发生什么？这一假定情形体现为一种类似于“生理极点”的现象。在这一情形下，公共债务超过某个限额，金融信心一落千丈。结果，利率出现上升，汇率出现下跌，公众进而产生恐慌情绪。对有庞大外币计价公共债务的manbetx20客户端下载 体或面临政治崩溃的manbetx20客户端下载 体来说，这一假定情形有时真的会发生。
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