Effectively the international (financial) system has a tow-tier structure:Countries that can borrow in their own currency constitute the center, and those, whose borrowings are denominated in one of the hard currencies, constitute the periphery. If individual countries get into difficulties they receive assistance but only on strict conditions. That holds true whether they are from the center or from the periphery. But if tie center itself becomes endangered, then, preserving the system take precedence over all other considerations.
adj. 集体的,共同的
n. 集体