Banking sector causes collapse of Spanish stocks
MADRID, June 29 (Xinhua) -- The Spanish stock market suffered this year's third major downfall on Tuesday (-5.45 percent) as a result of the banking 1 sector's liquidity 2 problems. Fears of a double dip world recession grew sharply ahead of U.S. jobs report to be released on Friday.
Once again, banks caused the Ibex-35 to sink under 9,200 points. Santander and BBVA shares fell by 6.8 and 7.2 percent respectively, whilst Bankinter saw the value of its shares reduced by 8 percent.
The Spanish financial sector（金融部门） was once more under close scrutiny 3 （审查,监视）by the international press on Tuesday when its liquidity problems were highlighted. According to the Financial Times, Spanish banks have been exerting pressure on the European Central Bank (ECB) ahead of Thursday's redemption of 442 billion euro (539.7 billion U.S. dollars) granted to European banks at an interest rate of 1 percent one year ago.
The London-based journal reported that Spanish banks accuse the ECB of "absurd" behavior if the European monetary 4 authorities（货币当局） finally decide to terminate their emergency-cash policies. The one- year credits were a novel policy introduced by the ECB as an extraordinary support measure during the financial crisis.
Given the time-length of these loans, the Financial Times reports, the ECB will not renew them since they may distort markets and condition the ECB's monetary policies. The ECB is even more reluctant to renew the loan scheme in the current climate, with the ongoing 5 sovereign debt crisis still unresolved.
(本文由在线英语听力室整理编辑)
- John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
- He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
- The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
- The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。
- His work looks all right,but it will not bear scrutiny.他的工作似乎很好，但是经不起仔细检查。
- Few wives in their forties can weather such a scrutiny.很少年过四十的妻子经得起这么仔细的观察。
- The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
- Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。