devaluation

Nothing like that has happened in Europe — yet. But it’s certainly within the realm of possibility, especially as the pain of austerity and internal devaluation drags on.

在欧洲还没有发生这样的事情，但肯定在可能性范畴之内，尤其是随着财政紧缩与内部贬值痛苦的持续，这种可能会增大。

The risk of devaluation (of the currency) does not affect them as much as it does other investors.

（货币）贬值风险对他们的影响不像对其他投资商那么大。