After savaging the financial markets , the credit crisis has broken loose into the real economy .

在把金融市场搅了个天翻地覆之后，次贷危机的魔爪开始伸向实体经济。

They believe they are at a disadvantage to us banks , which can shift their holdings to a cost basis more easily and escape the savaging of asset values in today 's markets .

这些欧洲银行认为，他们相较于美国银行处于劣势美国银行能够更容易地将资产转换为以成本计价，避免资产价值在当前市场中大幅缩水。

Cutting back public services , savaging pension entitlements and imposing a regime of near zero interest rates that guarantees negative returns for ordinary savers does not have the same devastating impact as hyperinflation or full scale deflation .

减少共同服务设施，野蛮的养老金制度以及普通工薪阶层负回报、零利率的税收政策不如恶性通货膨胀和高度供货紧缩那般具有破坏性。

At the time , many economists said that greece would struggle to generate enough economic growth to escape a sovereign debt burden which equaled about 150 per cent of gross domestic product while savaging government spending .

当时，很多经济学家表示，希腊难以在大幅削减政府支出的情况下，实现足够的经济增长，以摆脱主权债务负担（相对于其国内生产总值（gdp）的150%左右）。

How we go about stemming the tide of red ink is , however , a choice - and by making tax increases part of the solution , we can avoid savaging the poor and undermining the security of the middle class .

不过，如何堵住财政赤字的潮流其实是一种选择而将提高税收作为解决方案的一部分，我们可以避免对穷人的迫害，避免破坏中产阶级的社会保障。