VOA标准英语2010年-Euro Hits Crisis Stage

Storm clouds have been brewing¹ over Europe and not even the biggest and most prudent² economies are exempt³ from their threat.  Europe's decade-old currency, the euro, is in crisis with some eurozone members mired⁴ in massive debt and others having to provide bailout-loan guarantees to prevent default and shore up the common currency.

Europe's economic giant, Germany, has put up a large share of those guarantees.  Many Germans, however, are not happy about having to bail⁵ out what they consider Europe's big spenders, such as Greece.  Some are even questioning whether the euro can survive in the long-term.

Germany has introduced the country's most ambitious austerity plan since World War II, to bring its public debt within European Union limits and hopefully encourage others to follow suit, thereby⁶ stabilizing⁷ the euro.

Artur Fischer

The austerity plan has calmed markets down, says Artur Fischer, head of the Berlin Stock Exchange.

"The normal retail⁸ investor⁹, he understands and realizes that serious measures have been taken," says Fischer.  "The professional investors¹⁰, they understand that what happened right now is significant and going in the right direction."

The markets had been jittery¹¹ for months about the stability of the euro.  The crisis was triggered by the Greek government's inability to pay back loans.  Fears spread about a possible default that could drag the entire eurozone with it.  Germany agreed to a bailout package of loan guarantees, but in return, Greece had to implement¹² strict austerity measures. Those have not been popular on the streets.  The bailout was not popular in Germany either, where many felt they were being called on to help those who had simply spent beyond their means.

Fischer says that Germans need to understand why the bailout is important for the German economy.

"Let's just say we let Greece go into bankruptcy¹³ - well, their loan is in euros so going into bankruptcy the ones who are lending them the money they would have to take a cut [loss]," says Fischer.  "Who lent that money?  Well to some extent, quite a lot of German banks.  So, if Greece would have gone into default, as a consequence a number of banks in Europe, and in Germany especially, would have another big problem."

Since then Europe's big economic players and the International Monetary¹⁴ Fund have hammered out an additional loan guarantee plan worth around a trillion dollars to shore up other fragile European economies.

Michael Stuermer

It has Michael Stuermer worried.  He is a historian and chief political correspondent for the influential¹⁵ German newspaper, Die Welt. He has doubts about the long-term viability¹⁶ of the euro and sees a break-up as quite possible.

"Some of the more solid partners in the euro system led by Germany would turn around and say, 'Look we've had enough of that'.  In order to save you, we first have to save ourselves.  We suspend our membership and we go back or we go forward to a kind of north European franc or guilder or something which sounds good and solid.  And, of course the southern part of the euro would fall apart," says Stuermer.

Many analysts¹⁸ have pointed¹⁹ to structural²⁰ flaws in the euro, noting that countries in the eurozone may share the currency, but have little say over individual member budgets and spending.

Economic analyst¹⁷ Markus Kerber of Berlin's Technische University says the eurozone must be restructured.

"In the current form, the eurozone can not survive," says Kerber.  "We have to reshape it.  In the long run, in my opinion, unless there is a miracle, Greece cannot belong to the European Monetary Union because we cannot provide for the financial means to keep that country stable."

Kerber believes the German bailout plan is unconstitutional and violates the EU treaty, and he's bringing suit against the German government over it.

Not everyone sees such cracks within the euro and the European Union.  Fischer has no doubt, the euro will survive.

"What we experience now was predicted when the eurozone and the euro were put together because we all understood that we have economies with different kinds of speeds, different kind of abilities.  Now, today we're in a world where a few countries are very strong and others are weak.  So, we reach out and we try to help them.  There will be a point in time where that might the other way around," says Fischer.

So while the euro is under severe strain - and some see its demise²¹ - others believe the common currency along with Europe's political bonds have benefited too many to be discarded.

 

1 brewing   

n. 酿造, 一次酿造的量 动词brew的现在分词形式

参考例句：

• It was obvious that a big storm was brewing up. 很显然，一场暴风雨正在酝酿中。
• She set about brewing some herb tea. 她动手泡一些药茶。

2 prudent   

adj.谨慎的，有远见的，精打细算的

参考例句：

• A prudent traveller never disparages his own country.聪明的旅行者从不贬低自己的国家。
• You must school yourself to be modest and prudent.你要学会谦虚谨慎。

3 exempt   

adj.免除的；v.使免除；n.免税者，被免除义务者

参考例句：

• These goods are exempt from customs duties.这些货物免征关税。
• He is exempt from punishment about this thing.关于此事对他已免于处分。

4 mired   

abbr.microreciprocal degree 迈尔德（色温单位）v.深陷( mire的过去式和过去分词 )

参考例句：

• The country was mired in recession. 这个国家陷入了经济衰退的困境。
• The most brilliant leadership can be mired in detail. 最有才干的领导也会陷于拘泥琐事的困境中。 来自《现代汉英综合大词典》

5 bail   

v.舀（水），保释；n.保证金，保释，保释人

参考例句：

• One of the prisoner's friends offered to bail him out.犯人的一个朋友答应保释他出来。
• She has been granted conditional bail.她被准予有条件保释。

6 thereby   

adv.因此，从而

参考例句：

• I have never been to that city,,ereby I don't know much about it.我从未去过那座城市，因此对它不怎么熟悉。
• He became a British citizen,thereby gaining the right to vote.他成了英国公民，因而得到了投票权。

7 stabilizing   

n.稳定化处理[退火]v.（使）稳定， （使）稳固( stabilize的现在分词 )

参考例句：

• The disulfide bridges might then be viewed primarily as stabilizing components. 二硫桥可以被看作是初级的稳定因素。 来自辞典例句
• These stabilizing design changes are usually not desirable for steady-state operation. 这些增加稳定性的设计改变通常不太符合稳态工作的要求。 来自辞典例句

8 retail   

v./n.零售；adv.以零售价格

参考例句：

• In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
• These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。

9 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

10 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

11 jittery   

adj. 神经过敏的, 战战兢兢的

参考例句：

• However, nothing happened though he continued to feel jittery. 可是，自从拉上这辆车，并没有出什么错儿，虽然他心中嘀嘀咕咕的不安。 来自汉英文学 - 骆驼祥子
• The thirty-six Enterprise divebombers were being squandered in a jittery shot from the hip. 这三十六架“企业号”上的俯冲轰炸机正被孤注一掷。

12 implement   

n.(pl.)工具，器具；vt.实行，实施，执行

参考例句：

• Don't undertake a project unless you can implement it.不要承担一项计划，除非你能完成这项计划。
• The best implement for digging a garden is a spade.在花园里挖土的最好工具是铁锹。

13 bankruptcy   

n.破产；无偿付能力

参考例句：

• You will have to pull in if you want to escape bankruptcy.如果你想避免破产，就必须节省开支。
• His firm is just on thin ice of bankruptcy.他的商号正面临破产的危险。

14 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。

15 influential   

adj.有影响的，有权势的

参考例句：

• He always tries to get in with the most influential people.他总是试图巴结最有影响的人物。
• He is a very influential man in the government.他在政府中是个很有影响的人物。

16 viability   

n.存活(能力)

参考例句：

• What is required to achieve or maintain such viability? 要达到或维持这种生存能力需要什么？
• Scientists are experimenting to find ways to ensure the viability of seeds for even longer periods of time. 正如我们所说，科学家正在试验努力寻找让种子的生命力更加延长的方法。

17 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。

18 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。

19 pointed   

adj.尖的，直截了当的

参考例句：

• He gave me a very sharp pointed pencil.他给我一支削得非常尖的铅笔。
• She wished to show Mrs.John Dashwood by this pointed invitation to her brother.她想通过对达茨伍德夫人提出直截了当的邀请向她的哥哥表示出来。

20 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。

21 demise   

n.死亡；v.让渡，遗赠，转让

参考例句：

• He praised the union's aims but predicted its early demise.他赞扬协会的目标，但预期这一协会很快会消亡。
• The war brought about the industry's sudden demise.战争道致这个行业就这么突然垮了。