Europe Moves Closer to Expanding Greek Bailout

 　　Stock markets are rallying in expectation that European governments are finally committed to a comprehensive solution to their spreading debt crisis.  Two of the most reluctant countries - Germany and Finland - are expected to vote this week for expanding a key bailout fund.

　　Time is running out for Greece to receive more bailout funds to avoid defaulting on its debt. But expectations are also rising that European governments are finally responding to calls that they take bigger and bolder steps to tackle a spreading financial crisis in the 17 nations sharing the euro currency.

　　In the coming days, European and International Monetary¹ Fund officials will be assessing Greece's progress toward pushing through tough austerity measures in return for more funds.  Analysts² and markets are also zeroing in on Germany, Europe's biggest economy, where opposition³ has been growing about bailing⁴ out Greece and other debt-strapped countries.

　　But there is a widespread expectation the German parliament will back expanding the European Union's bailout fund during a crucial vote, Thursday.

　　Underscoring the importance of German support, Greek Prime Minister George Papandreou held talks with German leader Angela Merkel on Tuesday.  He also appealed for help, in an address to German industries.

　　"This crisis must unite us to make Europe a stronger Europe - one that lives up to the common aspirations⁵ of our citizens.  I am confident that Greece will have undergone this same remarkable⁶ transformation⁷ achieve in Germany during the early 1990s.  What we are doing is nothing short than the rebirth of a nation," he said.

　　News reports suggest a larger plan for dealing⁸ with the debt crisis is being crafted.  But European officials have dampened those expectations.  And, a number of eurozone governments have yet to ratify⁹ a July decision to expand the bailout fund, which they need to do within weeks.

　　Even if they do, analysts like Simon Tilford, of the Center for European Reform in London, say the expanded fund will not be enough to deal with debt problems in bigger economies, like Italy.

　　"I think that, at this juncture¹⁰, they're certainly far behind the curve," he said. "They obviously need to agree to what they signed up to in July.  But that's not going to be anywhere near enough to prevent the crisis deepening and perhaps barreling out of control."

　　The United States and other countries are increasingly concerned that Europe's debt crisis will have far-reaching effects. President Barack Obama and his administration have been pressing European leaders for tougher action.

　　"They have not fully¹¹ healed from the crisis back in 2007 and never fully dealt with all the challenges that their banking¹² system faced.  It's now being compounded with what's been happening in Greece.  So they're now going through a financial crisis that is scaring the world," he said.

　　Underscoring the international concern, Japan's finance minister has suggested his government might help in bailing out Greece - if European leaders draft a plan that will calm the markets.

1 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• 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。

2 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• 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。

3 opposition   

n.反对，敌对

参考例句：

• The party leader is facing opposition in his own backyard.该党领袖在自己的党內遇到了反对。
• The police tried to break down the prisoner's opposition.警察设法制住了那个囚犯的反抗。

4 bailing   

（凿井时用吊桶）排水

参考例句：

• Both fountains were going furiously and both pumps bailing with might and main. 两个人的口水只管喷泉似地朝外涌，两个抽水机全力以赴往外抽水。
• The mechanical sand-bailing technology makes sand-washing operation more efficient. 介绍了机械捞砂的结构装置及工作原理，提出了现场操作注意事项。

5 aspirations   

强烈的愿望( aspiration的名词复数 )； 志向； 发送气音； 发 h 音

参考例句：

• I didn't realize you had political aspirations. 我没有意识到你有政治上的抱负。
• The new treaty embodies the aspirations of most nonaligned countries. 新条约体现了大多数不结盟国家的愿望。

6 remarkable   

adj.显著的，异常的，非凡的，值得注意的

参考例句：

• She has made remarkable headway in her writing skills.她在写作技巧方面有了长足进步。
• These cars are remarkable for the quietness of their engines.这些汽车因发动机没有噪音而不同凡响。

7 transformation   

n.变化；改造；转变

参考例句：

• Going to college brought about a dramatic transformation in her outlook.上大学使她的观念发生了巨大的变化。
• He was struggling to make the transformation from single man to responsible husband.他正在努力使自己由单身汉变为可靠的丈夫。

8 dealing   

n.经商方法，待人态度

参考例句：

• This store has an excellent reputation for fair dealing.该商店因买卖公道而享有极高的声誉。
• His fair dealing earned our confidence.他的诚实的行为获得我们的信任。

9 ratify   

v.批准，认可，追认

参考例句：

• The heads of two governments met to ratify the peace treaty.两国政府首脑会晤批准和平条约。
• The agreement have to be ratify by the board.该协议必须由董事会批准。

10 juncture   

n.时刻，关键时刻，紧要关头

参考例句：

• The project is situated at the juncture of the new and old urban districts.该项目位于新老城区交界处。
• It is very difficult at this juncture to predict the company's future.此时很难预料公司的前景。

11 fully   

adv.完全地，全部地，彻底地；充分地

参考例句：

• The doctor asked me to breathe in,then to breathe out fully.医生让我先吸气，然后全部呼出。
• They soon became fully integrated into the local community.他们很快就完全融入了当地人的圈子。

12 banking   

n.银行业，银行学，金融业

参考例句：

• 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。