translate English to French: Some important areas of divergence between Member States concern: the relative importance of financing at long-term fixed rates versus variable or short-term rates; the size and composition of balance-sheet positions of the non-financial sectors; the degree of openness of the economy and the importance of the exchange rate channel; the speed with which money market rates and changes in official interest rates feed through to lending and borrowing rates; differences in the wage-price mechanism.
A des charges d'intérêts et la crainte moyen terme, cependant, il peut y avoir un effet de contraction, du fait que l'augmentation d'un alourdissement sans fin de ces charges contraindront à donner une orientation plus rigoureuse à la politique budgétaire.