Moral hazard and herd behaviour are natural consequences .

道德风险和羊群效应是自然的结果。

This can only have negative consequences .

这样做只会带来负面结果。

These reforms had further consequences .

这些改革有了更深远的结果。

This has several undesirable consequences .

这就导致了一些不良的结果。

But the global consequences could be severe .

但是全球的结果是严重的。