| 单词 | moratorium |
| 释义 | moratorium 1) An agreement between a creditor and a debtor to allow additional time for the settlement of a debt. 2) A period during which one government permits a government of a foreign country to suspend repayments of a debt. 3) A period during which all the trading debts in a particular market are suspended as a result of some exceptional crisis in the market. In these circumstances, not to call a moratorium would probably lead to more insolvencies than the market could stand. The intention of such a moratorium is, first, that firms should be given a breathing space to find out exactly what their liabilities are and, secondly, that they should be given time to make the necessary financial arrangements to settle their liabilities. |
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