Belgium Buys Subsidiary of Troubled Dexia Bank

 　　Belgium decided¹ Monday to buy a subsidiary of the financially troubled Dexia bank, the first victim of new European worries about the spread of Greece's debt crisis.

　　The Belgian government said it is paying $5.4 billion to buy the national subsidiary of Dexia. The French, Luxembourg and Belgian governments said they would provide an additional $121 billion in funding guarantees for the bank for up to 10 years.

　　The Belgian nationalization of Dexia came as members of Qatar's royal family said they would pay $1.4 billion to buy the bank's Luxembourg division. Dexia's board is negotiating with two French banks to resolve further financing difficulties for local authorities in France.

　　Dexia was hurt by holding too much governmental debt, especially from Greece, but also from Italy and struggling local governments in the United States. Other banks increasingly were reluctant to loan money to Dexia, worried that it would collapse² and they would not be repaid. Belgian officials said the infusion³ of cash and loan guarantees insures that customers' deposits at Dexia are secure.

　　Meanwhile, Greece said Monday it has concluded talks with international creditors⁴ who have been reviewing the country's austerity budget measures. Greece needs their approval as it seeks release of a new round of financing from its $159 billion bailout from last year. Greek Finance Minister Evangelos Venizelos said he expects the $11 billion segment to be released before the country runs out of cash next month so it can avoid a default on its international obligations.

　　European leaders have been hard-pressed to stay a step ahead of the spreading debt contagion⁵, which has worried investors⁶ across the globe.

　　On Sunday, French President Nicolas Sarkozy and German Chancellor⁷ Angela Merkel met in Berlin and promised to soon produce a "global, lasting⁸ and quick response" to the European debt crisis.

　　The two leaders declined to give any details of their plans, which Mrs. Merkel says are still a work in progress. But Mr. Sarkozy says they include adding new funding for banks faced with losses. They say the plan will be ready when France hosts a summit of leaders from 20 industrialized and developing economies early next month.

　　Ireland and Portugal also have needed bailouts, and there are fears Italy and Spain, with Europe's third and fourth largest economies, could be next.

　　In Slovakia, another of the 17 nations that use the common euro currency, lawmakers are struggling to reach agreement on whether to approve expansion of the eurozone's bailout fund to assist countries that need international aid.

　　On Monday, Slovakia Prime Minister Iveta Radicova threatened to resign if the measure is not approved in a vote set for Tuesday. Opponents say the country is too poor to guarantee a proposed $10 billion share of the proposed $589 billion fund.

　　All but Malta and Slovakia have approved the expanded fund.

1 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

2 collapse   

vi.累倒；昏倒；倒塌；塌陷

参考例句：

• The country's economy is on the verge of collapse.国家的经济已到了崩溃的边缘。
• The engineer made a complete diagnosis of the bridge's collapse.工程师对桥的倒塌做了一次彻底的调查分析。

3 infusion   

n.灌输

参考例句：

• Old families need an infusion of new blood from time to time.古老的家族需要不时地注入新鲜血液。
• Careful observation of the infusion site is necessary.必须仔细观察输液部位。

4 creditors   

n.债权人，债主( creditor的名词复数 )

参考例句：

• They agreed to repay their creditors over a period of three years. 他们同意3年内向债主还清欠款。 来自《简明英汉词典》
• Creditors could obtain a writ for the arrest of their debtors. 债权人可以获得逮捕债务人的令状。 来自《简明英汉词典》

5 contagion   

n.(通过接触的疾病)传染；蔓延

参考例句：

• A contagion of fear swept through the crowd.一种恐惧感在人群中迅速蔓延开。
• The product contagion effect has numerous implications for marketing managers and retailers.产品传染效应对市场营销管理者和零售商都有很多的启示。

6 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• 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

7 chancellor   

n.(英)大臣；法官；(德、奥)总理；大学校长

参考例句：

• They submitted their reports to the Chancellor yesterday.他们昨天向财政大臣递交了报告。
• He was regarded as the most successful Chancellor of modern times.他被认为是现代最成功的财政大臣。

8 lasting   

adj.永久的，永恒的；vbl.持续，维持

参考例句：

• 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。