Eurozone Gives Final OK for Greek Bailout

 　　After months of negotiations¹ with its European neighbors, Greece has secured final approval of a new $170 billion bailout, the country's second rescue package in two years.

　　Luxembourg Prime Minister Jean-Claude Juncker said Wednesday the first installment² of more than $51 billion would be sent to the Athens government in several segments. The bailout, along with the agreement by Greece's private creditors³ to eliminate $142 billion in debt the country owes them, is intended to keep it from defaulting on its financial obligations and fund the government through 2014.

　　Juncker described the bailout as "a unique opportunity for Greece that should not be missed," and said the country must keep a "strong commitment" to carry out the austerity measures it has adopted to cut the budget deficits⁴ it has routinely incurred⁵.

　　The first segment of funding is expected to be used to recapitalize Greek banks that wrote down the debt the government owed them, as well as cover government funding needs through the end of June.

　　German Chancellor⁶ Angela Merkel, meeting with Italian Prime Minister Mario Monti in Rome on Tuesday, hailed the outcome of the Greek debt negotiations, but said that all 17 countries in the euro currency bloc⁷ must now work toward boosting their own economic fortunes.

　　"The first thing is that we showed clearly that we all stand for the stability of the euro currency and the way we coped with the Greece crisis is proof of that," she said. "The second thing is that every member has to work in their own country to improve its economic strength, in order to make confidence come back."

1 negotiations   

协商( negotiation的名词复数 )； 谈判； 完成（难事）； 通过

参考例句：

• negotiations for a durable peace 为持久和平而进行的谈判
• Negotiations have failed to establish any middle ground. 谈判未能达成任何妥协。

2 installment   

n.(instalment)分期付款；(连载的)一期

参考例句：

• I shall soon pay the last installment of my debt.不久我将偿付我的最后一期债款。
• He likes to buy things on the installment plan.他喜欢用分期付款法购买货物。

3 creditors   

n.债权人，债主( creditor的名词复数 )

参考例句：

• They agreed to repay their creditors over a period of three years. 他们同意3年内向债主还清欠款。 来自《简明英汉词典》
• Creditors could obtain a writ for the arrest of their debtors. 债权人可以获得逮捕债务人的令状。 来自《简明英汉词典》

4 deficits   

n.不足额( deficit的名词复数 )；赤字；亏空；亏损

参考例句：

• The Ministry of Finance consistently overestimated its budget deficits. 财政部一贯高估预算赤字。 来自《简明英汉词典》
• Many of the world's farmers are also incurring economic deficits. 世界上许多农民还在遭受经济上的亏损。 来自辞典例句

5 incurred   

[医]招致的，遭受的； incur的过去式

参考例句：

• She had incurred the wrath of her father by marrying without his consent 她未经父亲同意就结婚，使父亲震怒。
• We will reimburse any expenses incurred. 我们将付还所有相关费用。

6 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。

7 bloc   

n.集团；联盟

参考例句：

• A solid bloc of union members support the decision.工会会员团结起来支持该决定。
• There have been growing tensions within the trading bloc.贸易同盟国的关系越来越紧张。