Italy PM Sells Austerity Measures to Politicians

 　　Italian Prime Minister Mario Monti met with party leaders Saturday to build support for his proposed austerity measures as European leaders work to confront the continent's debt crisis.

　　The government has not officially released details of the measures, but they are believed to include a mix of cuts and tax hikes and an increase to the retirement¹ age.

　　Several politicians have described the measures as "severe" but necessary, and Monti has promised to make them as socially equitable² as possible.

　　Italy's cabinet is set to meet Monday to approve the package in hopes it will help resolve the country's debt crisis.

　　Greece, Ireland and Portugal have already been forced to secure international bailouts over the last year and a half. The main fear now for European leaders is that Italy, with the continent's third biggest economy, may also need a bailout to avoid defaulting on its debts - a crisis that would threaten the continent's monetary³ union and could lead to a renewed worldwide recession.

　　German Chancellor⁴ Angela Merkel and French President Nicolas Sarkozy are to meet in Paris on Monday to announce a joint⁵ German-French plan to resolve the crisis, ahead of an EU summit next Friday in Brussels.

　　All 27 EU nations would have to approve changes to the 1992 Maastricht Treaty that created the EU, but that broad approval may not be necessary if spending controls apply only to the 17 nations that use the euro as their currency.

1 retirement   

n.退休，退职

参考例句：

• She wanted to enjoy her retirement without being beset by financial worries.她想享受退休生活而不必为金钱担忧。
• I have to put everything away for my retirement.我必须把一切都积蓄起来以便退休后用。

2 equitable   

adj.公平的；公正的

参考例句：

• This is an equitable solution to the dispute. 这是对该项争议的公正解决。
• Paying a person what he has earned is equitable. 酬其应得,乃公平之事。

3 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。

4 chancellor   

n.(英)大臣；法官；(德、奥)总理；大学校长

参考例句：

• They submitted their reports to the Chancellor yesterday.他们昨天向财政大臣递交了报告。
• He was regarded as the most successful Chancellor of modern times.他被认为是现代最成功的财政大臣。

5 joint   

adj.联合的，共同的；n.关节，接合处；v.连接，贴合

参考例句：

• I had a bad fall,which put my shoulder out of joint.我重重地摔了一跤，肩膀脫臼了。
• We wrote a letter in joint names.我们联名写了封信。