VOA慢速英语2010年-Economics Report - EU Offers Words of

This is the VOA Special English Economics Report.

Leaders of the European Union say they will help Greece as it struggles under a mountain of debt. They promise to take action, if needed, "to safeguard financial stability in the euro area as a whole." But the leaders did not announce any detailed¹ plan for Greece after meeting Thursday in Brussels.

They said that was because Greece has not requested any financial support. European Commission President Jose Manuel Barroso said this means the government believes it does not need the support.

Protesters hold a banner reading ''No to the Stability Pact²'' at the Greek Parliament in Athens on Thursday; the 1996 pact sets limits on E.U. members' deficits⁴

Investors⁵ had a mixed reaction to the statements from Brussels. Worries over Greek debt have pushed the euro to its lowest value in months against the dollar. European Union finance ministers are expected to talk about Greece when they meet in the Belgian capital next week.

Sixteen of the twenty-seven nations in the European Union use the euro as their currency. Now, the stronger members are seeking ways to help the weaker ones like Greece. European Union rules limit the choices for a rescue. The European Central Bank and national central banks are barred from aiding members by purchasing their debt.

European officials hope to avoid the crisis that could spread if Greece fails to pay its debts. Greece needs to borrow more than seventy billion dollars this year to finance its budget and refinance its debts.

In October, Greece said its budget deficit³ would reach almost thirteen percent of its gross domestic product last year. G.D.P. is the widest measure of economic activity.

Greece represents less than three percent of the euro area economy. But its deficit is around four times the level permitted by the euro group. Greece has promised to cut public spending in an effort to reduce its deficit by four percentage points this year.

And Greece is not the only country in trouble. High levels of public debt in Ireland, Portugal and Spain are also worrying debt markets.

Nations in the euro area share a common currency, but not a common financial policy. This leads to big differences in economic results. Some members have very low levels of public debt. Others have very high levels. Greece's debt could reach one hundred twenty percent of its G.D.P. this year.

Last week, the European Commission approved a Greek plan to cut government spending. On Wednesday, thousands of public employees in Greece held a strike to protest cost-cutting measures.

And that's the VOA Special English Economics Report. I'm Mario Ritter.

　
 

1 detailed   

adj.详细的，详尽的，极注意细节的，完全的

参考例句：

• He had made a detailed study of the terrain.他对地形作了缜密的研究。
• A detailed list of our publications is available on request.我们的出版物有一份详细的目录备索。

2 pact   

n.合同，条约，公约，协定

参考例句：

• The two opposition parties made an electoral pact.那两个反对党订了一个有关选举的协定。
• The trade pact between those two countries came to an end.那两国的通商协定宣告结束。

3 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。

4 deficits   

n.不足额( deficit的名词复数 )；赤字；亏空；亏损

参考例句：

• The Ministry of Finance consistently overestimated its budget deficits. 财政部一贯高估预算赤字。 来自《简明英汉词典》
• Many of the world's farmers are also incurring economic deficits. 世界上许多农民还在遭受经济上的亏损。 来自辞典例句

5 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