VOA标准英语10月-Recession Fears Keep Downward Pressure on Europea

European stock indexes have been lower, following earlier falls in Asia. For VOA, Tom Rivers reports from London.

Fears of a sharp global economic slowdown gripped European markets, with all the major trading centers showing volatility¹. The primary concern was that a worldwide recession might just be inevitable², despite a coordinated³ bank rescue plan being discussed in places like Brussels, where European leaders are meeting.
　

Britain's PM Gordon Brown gives a press conference after a working session of a second day of a European Council summit in Brussels, 16 Oct. 2008

One of the leading voices there is British Prime Minister Gordon Brown whose so-called British model of bank recapitalization is being mirrored elsewhere around the world.

Mr. Brown acknowledges that turbulent times still lie ahead as the international financial problems filter down into the real economy.

"People have suffered that hit on their standards of living as a result of the rise in global oil prices and food prices and at the same time, we have had this credit crunch," he said. "These are both what you might call the problems of an economy that is now global. So, We have seen the first resources crisis of the global economy when oil demand has been higher than supply and we have seen the first financial crisis of this new age of globalization and that is what we are trying to deal with at the moment."

The Swiss government is the latest to announce plans to support its banking⁴ system with billions of dollars. UBS is being offered up to $54 billion so it can rid itself of some bad securities.

For leaders like Prime Minister Brown, actions like this represent yet another battle in what may well be a lengthy⁵ campaign.

"I think people know that these problems did not start in Britain," he said. "That they started in America as far as the banking system is concerned. I think they know that every government around the world is trying to deal with them. It is my aim to take the British people through these difficulties and do so in the fairest possible way."

Despite coordinated interest rate drops and massive injections of cash into the system from central banks, turning around global markets is an inexact science.

Leaders like Gordon Brown remind consumers that remedies will take time. And until the tight global credit logjam really can be broken up, the currently tense economic climate will remain.

1 volatility   

n.挥发性，挥发度，轻快，（性格）反复无常

参考例句：

• That was one reason why volatility was so low last year.这也是去年波动性如此低的原因之一。
• Yet because volatility remained low for so long,disaster myopia prevailed.然而，由于相当长的时间里波动性小，灾难短视就获胜了。

2 inevitable   

adj.不可避免的，必然发生的

参考例句：

• Mary was wearing her inevitable large hat.玛丽戴着她总是戴的那顶大帽子。
• The defeat had inevitable consequences for British policy.战败对英国政策不可避免地产生了影响。

3 coordinated   

adj.协调的

参考例句：

• The sound has to be coordinated with the picture. 声音必须和画面协调一致。
• The numerous existing statutes are complicated and poorly coordinated. 目前繁多的法令既十分复杂又缺乏快调。 来自英汉非文学 - 环境法 - 环境法

4 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。

5 lengthy   

adj.漫长的，冗长的

参考例句：

• We devoted a lengthy and full discussion to this topic.我们对这个题目进行了长时间的充分讨论。
• The professor wrote a lengthy book on Napoleon.教授写了一部有关拿破仑的巨著。