以下是高顿网校小编为ACCA学员整理的：P4高级财务管理，供大家参考。
 
　　WHAT HAS BEEN DONE SO FAR?
　　No country has been allowed to default for fear that this could cause a domino effect and cause defaults of other banks and nations known as contagion. However, this has led to piecemeal action  "bail outs" as and where the crisis has required it and many commentators fear it is simply putting off the day when the problem must be faced properly "kicking the can down the road" is an * that has been much used. The existence of credit default swaps (CDS) which provide guarantees on sovereign bonds has exacerbated the fears as it is has made it less clear as to where exactly the pain will fall if a country defaults. There is perhaps too much fear of default. For instance, Russia defaulted in 1998 but can once again borrow in the international money markets at reasonable rates.
　　高顿网校小编寄语：身体常动，内心常静。

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