Europe's Economic Crisis Intensifies

 　　Europe's financial and political problems deepened, as stock markets tumbled, Italian bond yields rose over the political turmoil¹ in Rome, and a new coalition² government prepares to take over in Greece.

　　The eurozone crisis has risen another notch³ with Italy's government heading for the door, stock markets plunging⁴ and Greece in crisis.

　　Outgoing Greek Prime Minister George Papandreou announced agreement with opposition⁵ lawmakers on a new coalition government that likely will have to carry out austerity measures demanded by the country's international creditors⁶.

　　And, after hanging on for weeks, veteran Italian Prime Minister Silvio Berlusconi now says he will resign and not run for office again.  President Giorgio Napolitano must either work on forming a new government or call early elections.

　　Rome becomes the latest casualty of the financial crisis that already has brought down the governments of Portugal, Ireland and Greece.  But as Europe's third-largest economy, Italy's skyrocketing debt and deficit⁷ are viewed as far more serious.

　　Analyst⁸ Ben May, with London-based Capital Economics, said it will take more than political change to put Italy on a healthier path.

　　"It is not just that the current government is not up to the job, but Italy has huge structural⁹ problems that are going to take years to resolve," said May. "And that, given that backdrop, it may well be very difficult for Italy to get its debt on a stable footing either without huge amounts of assistance from abroad or some form of a deal."

　　Eurozone countries are now scrambling¹⁰ to build a firewall to contain the spreading debt crisis. In an interview on France's RFI radio, French Foreign Minister Alain Juppe said the goals were clear.

　　Juppe said it was out of the question for Europe to abandon either the 17-nation eurozone or the euro. His remarks appear targeted at speculation¹¹ that Greece could leave the currency union.

　　The fast moving events have left analysts¹² like Janis Emmanouilidis, of the Brussels-based European Policy Center, uncertain about where Europe is headed.

　　"What is obvious is that the crisis has again reached a new level, a new phase. At the same time we are seeing E.U. member states,  especially Berlin and Paris, Germany and France, ready to act more boldly than they have this summer... At the same time, we do not know whether this crisis has reached a size in which it has become unstoppable or whether we are in a way in the final phase of it," said Emmanouilidis.

　　Greece's new coalition government must meet EU terms for a new installment¹³ of aid by December. After that, Greek officials say, they will be unable to pay their bills.

1 turmoil   

n.骚乱，混乱，动乱

参考例句：

• His mind was in such a turmoil that he couldn't get to sleep.内心的纷扰使他无法入睡。
• The robbery put the village in a turmoil.抢劫使全村陷入混乱。

2 coalition   

n.结合体，同盟，结合，联合

参考例句：

• The several parties formed a coalition.这几个政党组成了政治联盟。
• Coalition forces take great care to avoid civilian casualties.联盟军队竭尽全力避免造成平民伤亡。

3 notch   

n.(V字形)槽口，缺口，等级

参考例句：

• The peanuts they grow are top-notch.他们种的花生是拔尖的。
• He cut a notch in the stick with a sharp knife.他用利刃在棒上刻了一个凹痕。

4 plunging   

adj.跳进的，突进的v.颠簸( plunge的现在分词 )；暴跌；骤降；突降

参考例句：

• War broke out again, plunging the people into misery and suffering. 战祸复发，生灵涂炭。 来自《现代汉英综合大词典》
• He is plunging into an abyss of despair. 他陷入了绝望的深渊。 来自《简明英汉词典》

5 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。

6 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》

7 deficit   

n.亏空，亏损；赤字，逆差

参考例句：

• 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。

8 analyst   

n.分析家，化验员；心理分析学家

参考例句：

• What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
• The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。

9 structural   

adj.构造的，组织的，建筑（用）的

参考例句：

• The storm caused no structural damage.风暴没有造成建筑结构方面的破坏。
• The North American continent is made up of three great structural entities.北美大陆是由三个构造单元组成的。

10 scrambling   

v.快速爬行( scramble的现在分词 )；攀登；争夺；（军事飞机）紧急起飞

参考例句：

• Scrambling up her hair, she darted out of the house. 她匆忙扎起头发，冲出房去。 来自《现代英汉综合大词典》
• She is scrambling eggs. 她正在炒蛋。 来自《简明英汉词典》

11 speculation   

n.思索，沉思；猜测；投机

参考例句：

• Her mind is occupied with speculation.她的头脑忙于思考。
• There is widespread speculation that he is going to resign.人们普遍推测他要辞职。

12 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。

13 installment   

n.(instalment)分期付款；(连载的)一期

参考例句：

• I shall soon pay the last installment of my debt.不久我将偿付我的最后一期债款。
• He likes to buy things on the installment plan.他喜欢用分期付款法购买货物。