VOA标准英语2013--Shrinking EU Economies Deepen Austerity Divisions

 

Shrinking EU Economies Deepen Austerity Divisions

Alongside Germany, France has been in the driving seat of European integration¹, but figures released Thursday show over 3.2 million French are jobless, and further cuts are looming².

Carmaker Citroen announced the closure of its factory in Aulnay-sous-Bois outside Paris, and Steel giant ArcelorMittal has begun mothballing furnaces.

In contrast, the biggest hiring announcement came from the national employment agency, Pole Emploi.

"GDP declined approximately 1 percent since the financial crisis started in 2008," said Philippe Brossard of investment group AG2R La Mondiale, adding that employment is declining at approximately the pace of GDP.

With both France and Spain revealing record unemployment figures, and a European economic crisis that shows little sign of ending, the relentless³ cycle of poor economic data appears to be turning the tide of opinion in Europe against the very austerity measures that were imposed to rein⁴ in government debt.

But the lack of growth has divided opinion: French President Francois Hollande — backed by many southern European leaders and the International Monetary⁵ Fund — blames excessive austerity, or government spending cuts, for the continent's economic stagnation⁶, while German and European Central Bank (ECB) officials say governments must continue to pay down their debts.

Amid anti-austerity protests across the continent, European Commission president José Manuel Barroso said this week that austerity had reached its limit of popular support, a view echoed by Olli Rehn, EU Commissioner⁷ for Economic and Monetary Affairs.

"This slowing down of the pace of fiscal⁸ consolidation⁹ has been made possible by three factors: first, the increased credibility of fiscal policy which euro-area member states have achieved since 2011; second, the decisive action the ECB has taken to stabilize¹⁰ markets; and third, the reform of EU economic governance."

Simon Tilford, chief economist¹¹ at the Center for European Reform, a London-based think-tank, there is a growing acceptance that austerity hasn't worked.

"Lots of European countries are chasing their tails," he said. "They are cutting public spending at a time when businesses are not investing, and consumers are not consuming."

An easing of austerity does not mean a sudden change in big government spending, says Tobias Blattner, chief European economist at Daiwa Capital Markets, the investment banking¹² arm of Japanese brokerage Daiwa Securities Group.

"Everybody still wants and thinks that fiscal consolidation should be the aim and is exactly the right policy," he said. "But I think, as the European Commission president said, this should be done at a much slower pace in order to ensure social cohesion¹³."

Meanwhile, Spain's unemployment figures have reached more than six million, over 27 percent of the workforce¹⁴ — the highest since the country's transition to democracy in 1976. 

1 integration   

n.一体化，联合，结合

参考例句：

• We are working to bring about closer political integration in the EU.我们正在努力实现欧盟內部更加紧密的政治一体化。
• This was the greatest event in the annals of European integration.这是欧洲统一史上最重大的事件。

2 looming   

n.上现蜃景（光通过低层大气发生异常折射形成的一种海市蜃楼）v.隐约出现，阴森地逼近( loom的现在分词 )；隐约出现，阴森地逼近

参考例句：

• The foothills were looming ahead through the haze. 丘陵地带透过薄雾朦胧地出现在眼前。 来自《简明英汉词典》
• Then they looked up. Looming above them was Mount Proteome. 接着他们往上看，在其上隐约看到的是蛋白质组山。 来自英汉非文学 - 生命科学 - 回顾与展望

3 relentless   

adj.残酷的，不留情的，无怜悯心的

参考例句：

• The traffic noise is relentless.交通车辆的噪音一刻也不停止。
• Their training has to be relentless.他们的训练必须是无情的。

4 rein   

n.疆绳，统治，支配；vt.以僵绳控制，统治

参考例句：

• The horse answered to the slightest pull on the rein.只要缰绳轻轻一拉,马就作出反应。
• He never drew rein for a moment till he reached the river.他一刻不停地一直跑到河边。

5 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。

6 stagnation   

n. 停滞

参考例句：

• Poor economic policies led to a long period of stagnation and decline. 糟糕的经济政策道致了长时间的经济萧条和下滑。
• Motion is absolute while stagnation is relative. 运动是绝对的，而静止是相对的。

7 commissioner   

n.（政府厅、局、处等部门）专员，长官，委员

参考例句：

• The commissioner has issued a warrant for her arrest.专员发出了对她的逮捕令。
• He was tapped for police commissioner.他被任命为警务处长。

8 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

9 consolidation   

n.合并,巩固

参考例句：

• The denser population necessitates closer consolidation both for internal and external action. 住得日益稠密的居民，对内和对外都不得不更紧密地团结起来。 来自英汉非文学 - 家庭、私有制和国家的起源
• The state ensures the consolidation and growth of the state economy. 国家保障国营经济的巩固和发展。 来自汉英非文学 - 中国宪法

10 stabilize   

vt.（使）稳定，使稳固，使稳定平衡；vi.稳定

参考例句：

• They are eager to stabilize currencies.他们急于稳定货币。
• His blood pressure tended to stabilize.他的血压趋向稳定。

11 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

12 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。

13 cohesion   

n.团结，凝结力

参考例句：

• I had to bring some cohesion into the company.我得使整个公司恢复凝聚力。
• The power of culture is deeply rooted in the vitality,creativity and cohesion of a nation. 文化的力量，深深熔铸在民族的生命力、创造力和凝聚力之中。

14 workforce   

n.劳动大军，劳动力

参考例句：

• A large part of the workforce is employed in agriculture.劳动人口中一大部分受雇于农业。
• A quarter of the local workforce is unemployed.本地劳动力中有四分之一失业。