股市、债市、汇市的联动机制和风险传递引人深思。在经济全球化和一体化的背景下,全球市场传递机制和连锁反应日渐明显,比如欧洲、美国和新兴市场。始于2009年末的希腊债务危机,逐渐由希腊、爱尔兰等小国向西班牙、意大利等中大型国家蔓延,银行财务状况恶化和资产负债表的连锁反应亦使法国、德国、英国等发达经济体深陷主权债务危机。同时,巨额财政赤字引发货币贬值和通货 The stock market, bond markets, foreign exchange market mechanism and risk transfer thought-provoking. In the context of economic globalization and integration, the global market transmission mechanism and chain reaction have become increasingly evident, such as Europe, the United States and emerging markets. The Greek debt crisis, which started in late 2009, gradually spread from small countries such as Greece and Ireland to medium and large-sized countries such as Spain and Italy. The deteriorating financial position of banks and the chain reaction in the balance sheet have also left deep-seated economies like France, Germany and the United Kingdom Sovereign debt crisis. At the same time, huge fiscal deficits trigger currency devaluations and currency