VOA标准英语2010年-Greek Debt Crisis Affects Europe, Worl
时间:2018-12-16 作者:英语课 分类:VOA标准英语2010年(二月)
As Greece embarks 1 on tough economic reforms it is facing the prospect 2 of deep social unrest, with tens of thousands of workers taking to the streets this week. The Greek debt crisis is spilling over to other European economies - and threatening international prospects 3 for economic recovery.
More strikes and social unrest. Tens of thousands of disgruntled workers spilled into Greek streets on Wednesday, registering their discontent with government austerity measures to control Greece's spiraling public deficit 4 and debt. Greece's economic woes 5 have posed the biggest challenge yet for the decade-old euro currency - and the 16 nations, including Greece, that make up the eurozone economy.
Greece has been a top subject in Brussels, where European Union leaders registered support for Athens and its economic reforms this month - but offered no financial assistance.
The Greek government has promised to slash 6 its public deficit from nearly 13 percent of gross domestic product to nearly nine percent of Gross Domestic Product by the year's end. Greece's debt is currently estimated at more than $404 billion - or about 113 percent of its GDP.
Just how serious is the Greek crisis? Very serious, says economist 7 Paula Subacchi of the Chatham House policy institute in London.
"The crisis is serious and it is serious for many reasons. One is because of the credibility of Greece. And the events of the past couple of days do not really improve confidence in the country and therefore foreign investors 8 are very concerned," she said.
European Commissioner 9 for the Economy Olli Rehn speaks during a media conference at EU headquarters in Brussels, 25 Feb. 2010
On Thursday, European Economic Commissioner Olli Rehn said he would personally inspect Greek's austerity plans after receiving a report from EU, European bank and IMF auditors 10 who were in Athens this week. Speaking to reporters, Rehn outlined some of the spillover effects of Greece's problems.
"The mood deteriorated 11 in some segments at the start of this year following growing concerns of the fiscal 12 situation in some countries. This led to sharp increases in sovereign bond spreads in the euro area as we have seen recently - especially in the case of Greece," he said.
The European Commission - the EU's executive arm - says it will be monitoring Greece carefully to see it lives up to its promises. Commissioner Rehn says the Greek crisis serves as a lesson for the eurozone as a whole.
Several credit tracking agencies have downrated Greece's credit rating and Standard & Poor's warned it could do so again. That could put Greece in the high risk investment category, making it very difficult for the country to borrow money.
Polls show that despite the social protests, the majority of Greeks support the government's austerity measures. And Subacchi says it is critical Athens sticks to them.
"The Greek government has a huge problem. It needs first of all to regain 13 credibility. And the way to do it is to make sure that the deficit reduction plan is credible 14. It's not overambitious with the risk of triggering the kind of protest we're seeing - but it's not too mild," said Subacchi.
Analysts 15 fault several factors for Greece's debt crisis. The country overspent and failed to report the true size of its ballooning deficit to the European Union. Critics also say the European Union did not properly scrutinize 16 the figures sent in by Athens.
But Simon Tilford, chief economist at the Center for European Reform in London, says the Greek crisis reflects a larger economic problem in Europe. EU members like the Netherlands and Germany have spent too little and their economies are driven by exports. Meanwhile, southern economies like Greece and Portugal have spent too much and amassed 17 debts as a result.
"So in order to find a lasting 18 solution, we need change on both sides. we need countries that have been hard hit in the south - such as Spain, Greece, Portugal, Italy - to take reforms to boost productivity growth, to cut costs, to manage their public sectors 19 more efficiently," he said.
But Tilford says surplus countries like Germany have to provide more demand for southern European products.
Analysts fear Greece's economic crisis risks spilling over to other southern European countries with shaky economies. It has also raised questions on complex and questionable 20 financial deals between Athens and financial companies like Goldman Sachs. But Tilford says these are symptoms and not the root causes of Greece's dilemma 21.
Analysts like Tilford and Subacchi believe European governments will ultimately come to Athens's financial rescue - because a Greek crisis may soon become a European one.
"I'm personally very convinced there eventually will be a solution to the Greek problem. Because we cannot think what a default of Greece will trigger. It's a risk nobody wants to take," said Subacchi.
Greece's problems are also spilling beyond Europe's borders. The value of the euro currency has plunged 22 for example, which makes American exports - key to the U.S. economic recovery - less competitive.
Ultimately, Tilford says, the Greek problem reflects a world economic problem.
"The eurozone s really just a microcosm of the global problems we see. So unless we see the big countries in East Asia rebalancing away from exports and toward domestic demand, we are not going to generate a self-sustaining global economic recovery," he said.
But Tilford does not believe Europe is ready, or willing, yet to undertake fundamental economic reforms he thinks are needed to right these imbalances. The region may rescue Greece, he says, but it will only be putting a bandage on a far bigger problem.
- Patricia is a free-spirited girl who embarks on an erotic odyssey. 翠茜亚是个任性少女、毅然踏上一次性爱之旅。
- Passenger train driver: Punctually embarks. 客车司机:准时出发。
- This state of things holds out a cheerful prospect.事态呈现出可喜的前景。
- The prospect became more evident.前景变得更加明朗了。
- There is a mood of pessimism in the company about future job prospects. 公司中有一种对工作前景悲观的情绪。
- They are less sanguine about the company's long-term prospects. 他们对公司的远景不那么乐观。
- The directors have reported a deficit of 2.5 million dollars.董事们报告赤字为250万美元。
- We have a great deficit this year.我们今年有很大亏损。
- Thanks for listening to my woes. 谢谢您听我诉说不幸的遭遇。
- She has cried the blues about its financial woes. 对于经济的困难她叫苦不迭。
- The shop plans to slash fur prices after Spring Festival.该店计划在春节之后把皮货降价。
- Don't slash your horse in that cruel way.不要那样残忍地鞭打你的马。
- He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
- He's an economist who thinks he knows all the answers.他是个经济学家,自以为什么都懂。
- a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
- a cash bonanza for investors 投资者的赚钱机会
- The commissioner has issued a warrant for her arrest.专员发出了对她的逮捕令。
- He was tapped for police commissioner.他被任命为警务处长。
- The company has been in litigation with its previous auditors for a full year. 那家公司与前任审计员已打了整整一年的官司。
- a meeting to discuss the annual accounts and the auditors' report thereon 讨论年度报表及其审计报告的会议
- Her health deteriorated rapidly, and she died shortly afterwards. 她的健康状况急剧恶化,不久便去世了。
- His condition steadily deteriorated. 他的病情恶化,日甚一日。
- The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
- The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。
- He is making a bid to regain his World No.1 ranking.他正为重登世界排名第一位而努力。
- The government is desperate to regain credibility with the public.政府急于重新获取公众的信任。
- The news report is hardly credible.这则新闻报道令人难以置信。
- Is there a credible alternative to the nuclear deterrent?是否有可以取代核威慑力量的可靠办法?
- City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
- I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。
- Her purpose was to scrutinize his features to see if he was an honest man.她的目的是通过仔细观察他的相貌以判断他是否诚实。
- She leaned forward to scrutinize their faces.她探身向前,端详他们的面容。
- He amassed a fortune from silver mining. 他靠开采银矿积累了一笔财富。
- They have amassed a fortune in just a few years. 他们在几年的时间里就聚集了一笔财富。 来自《简明英汉词典》
- The lasting war debased the value of the dollar.持久的战争使美元贬值。
- We hope for a lasting settlement of all these troubles.我们希望这些纠纷能获得永久的解决。
- Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
- Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》
- There are still a few questionable points in the case.这个案件还有几个疑点。
- Your argument is based on a set of questionable assumptions.你的论证建立在一套有问题的假设上。