In 3 yrs when carry trade debt… Posted on December 21, 2011December 21, 2011 by Site Administrator In 3 yrs when carry trade debt must be repaid to ECB, banks will default after 3 yrs of shrinking balance sheets & recession/slow growth. To access this post, you must purchase The Credit Strategist Corporate Membership Subscription, The Credit Strategist Individual Membership Subscription, The Credit Strategist 1-Year Corporate Membership or The Credit Strategist 1-Year Individual Membership. Posted in The Credit Strategist.