S&P Downgrades French Credit Rating

 　　Standard & Poor's Friday downgraded the credit ratings of nine European countries caught up in the eurozone crisis. This includes France, which has Europe's second-largest economy.

　　S&P's downgrade of France's credit rating has been expected for weeks. French Finance Minister Francois Baroin called it only "half a surprise," as he confirmed on TV Friday night the downgrade from AAA to AA+. He described it as among a series of S&P credit changes across the 17-nation eurozone.

　　Baroin said the news was not good, but that France's credit rating remained excellent. He said the downgrade only reaffirmed the government's determination to stabilize¹ the governance of the eurozone. France was not alone as S&P also downgraded the credit standings of eight other nations.

　　Baroin said it was important to stay calm and not to politicize the event. France's downgrade is clearly a blow to French President Nicolas Sarkozy, however, just a few months ahead of presidential elections. Sarkozy, who remains² deeply unpopular in France, has put a premium³ on maintaining the country's sterling⁴ rating.

　　His rivals have quickly pounced⁵ on the news.

　　Far-right presidential contender Marine⁶ Le Pen blamed the downgrade on the French leader. She said it was critical to shelter France through what she called "reasoned protectionism."

　　The euro currency and markets fell at expectations over the eurozone downgrades. In another blow to the shaky eurozone, banks suspended debt restructuring talks with Greece.

　　Some analysts⁷ consider the downgrades a major blow ahead of the year's first European Union summit that will address a French and German plan to bring new rigor⁸ to EU economies. But Laurent Maruani, of the HEC business school in Paris, downplays the impact of the French downgrade as "nonsense." He noted⁹ that a number of other countries have seen their credit ratings slashed¹⁰.

　　'Because people from rating agencies have no real power, no real trust that we put in them. So if everybody's degraded what can happen?  Nothing really," said Maruani.

　　The eurozone sovereign debt and banking¹¹ crisis is now in its third year. There has also been some good news, though, with the European Central Bank recently moving to end a credit crunch¹² at banks.

1 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。

2 remains   

n.剩余物，残留物；遗体，遗迹

参考例句：

• He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
• The remains of the meal were fed to the dog.残羹剩饭喂狗了。

3 premium   

n.加付款；赠品；adj.高级的；售价高的

参考例句：

• You have to pay a premium for express delivery.寄快递你得付额外费用。
• Fresh water was at a premium after the reservoir was contaminated.在水库被污染之后，清水便因稀而贵了。

4 sterling   

adj.英币的(纯粹的，货真价实的)；n.英国货币(英镑)

参考例句：

• Could you tell me the current rate for sterling, please?能否请您告诉我现行英国货币的兑换率？
• Sterling has recently been strong,which will help to abate inflationary pressures.英国货币最近非常坚挺，这有助于减轻通胀压力。

5 pounced   

v.突然袭击( pounce的过去式和过去分词 )；猛扑；一眼看出；抓住机会（进行抨击）

参考例句：

• As soon as I opened my mouth, the teacher pounced on me. 我一张嘴就被老师抓住呵斥了。 来自《简明英汉词典》
• The police pounced upon the thief. 警察向小偷扑了过去。 来自《现代汉英综合大词典》

6 marine   

adj.海的；海生的；航海的；海事的；n.水兵

参考例句：

• Marine creatures are those which live in the sea. 海洋生物是生存在海里的生物。
• When the war broke out,he volunteered for the Marine Corps.战争爆发时，他自愿参加了海军陆战队。

7 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。

8 rigor   

n.严酷，严格，严厉

参考例句：

• Their analysis lacks rigor.他们的分析缺乏严谨性。||The crime will be treated with the full rigor of the law.这一罪行会严格依法审理。

9 noted   

adj.著名的，知名的

参考例句：

• The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
• Jim is noted for arriving late for work.吉姆上班迟到出了名。

10 slashed   

v.挥砍( slash的过去式和过去分词 )；鞭打；割破；削减

参考例句：

• Someone had slashed the tyres on my car. 有人把我的汽车轮胎割破了。
• He slashed the bark off the tree with his knife. 他用刀把树皮从树上砍下。 来自《简明英汉词典》

11 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。

12 crunch   

n.关键时刻；艰难局面；v.发出碎裂声

参考例句：

• If it comes to the crunch they'll support us.关键时刻他们是会支持我们的。
• People who crunch nuts at the movies can be very annoying.看电影时嘎吱作声地嚼干果的人会使人十分讨厌。