But the EFSF’s founders did not take into account banks’ enormous short-term liabilities, which in a crisis effectively become government debt, as Ireland has been the most recent to demonstrate.
Но основатели EFSF не приняли во внимание многочисленные краткосрочные обязательства банков, которые во время кризиса, в сущности, становятся государственным долгом.