2019年经济学人 伦敦金融城能否挺过英国退欧(2)

 

London’s prowess is something to behold¹. It hosts 37% of the world’s currency dealing² and 18% of cross-border lending. It is a hub for derivatives³, asset management, insurance and investment banks. Relations with EUrope are particularly intimate. The City generates a quarter of its income from the continent, and EUrope gets a quarter of its financial services from London, often the most sophisticated ones. French or Italian firms go to London to meet investors⁴ or organise⁵ a takeover. When the EUropean Central Bank buys bonds as part of its monetary⁶ policy, the sellers are very often asset managers and banks domiciled in Britain. Some 90% of EUropean interest-rate swaps⁷ are cleared through the City’s plumbing⁸.

伦敦的实力值得一看。中国拥有世界37%的外汇交易和18%的跨境贷款。它是衍生品、资产管理、保险和投资银行的中心。与欧洲的关系尤其密切。伦敦金融城四分之一的收入来自欧洲大陆，而欧洲四分之一的金融服务来自伦敦，这些金融服务往往是最复杂的。法国或意大利公司前往伦敦会见投资者或组织收购。当欧洲央行将购买债券作为其货币政策的一部分时，卖方往往是在英国注册的资产管理公司和银行。大约90%的欧洲利率掉期交易都是通过伦敦金融城的管道结算的。

The City’s history is long but serpentine⁹. In 1873 Walter Bagehot, The Economist’s then-editor, wrote of its “natural pre-eminence”. In fact decades of decline lay ahead. A revival¹⁰ began in the 1960s when the offshore¹¹ market for dollar lending boomed. Another lift came with the stockmarket deregulation of Big Bang in 1986 and again after 2000 when London became a centre for trading the Euro and emerging markets. Even the financial crisis of 2008 did not do much damage to the City’s standing¹² abroad. Today the magic formula has many parts: openness to people and capital, the time zone, proximity¹³ to subsea data cables, and posh schools. But, above all, it relies on stable politics and regulation, close ties to America and seamless ones to Europe. Brexit and Mr Corbyn threaten this formula in three ways.

这座城市的历史悠久，但很曲折。1873年，时任《经济学人》编辑的沃尔特?白芝浩曾写道，它“天生卓越”。事实上，数十年的衰退还在后面。上世纪60年代，离岸美元贷款市场蓬勃发展，复苏由此开始。另一个提振因素是1986年股市对“金融大爆炸”的放松管制，2000年伦敦成为欧元和新兴市场的交易中心后又一次放松管制。即便是2008年的金融危机也没有对伦敦金融城的国际地位造成太大损害。如今，这个神奇的公式有很多部分：对人和资本的开放、时区、接近海底数据电缆以及豪华的学校。但最重要的是，它依赖于稳定的政治和监管、与美国的密切关系以及与欧洲的无缝连接。英国退欧和科尔宾在三方面威胁着这一模式。

1 behold   

v.看，注视，看到

参考例句：

• The industry of these little ants is wonderful to behold.这些小蚂蚁辛勤劳动的样子看上去真令人惊叹。
• The sunrise at the seaside was quite a sight to behold.海滨日出真是个奇景。

2 dealing   

n.经商方法，待人态度

参考例句：

• This store has an excellent reputation for fair dealing.该商店因买卖公道而享有极高的声誉。
• His fair dealing earned our confidence.他的诚实的行为获得我们的信任。

3 derivatives   

n.衍生性金融商品；派生物，引出物( derivative的名词复数 )；导数

参考例句：

• Many English words are derivatives of Latin words. 许多英语词来自拉丁语。 来自《简明英汉词典》
• These compounds are nitrosohydroxylamine derivatives. 这类合成物是亚硝基羟胺衍生物。 来自辞典例句

4 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

5 organise   

vt.组织，安排，筹办

参考例句：

• He has the ability to organise.他很有组织才能。
• It's my job to organise all the ceremonial events.由我来组织所有的仪式。

6 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。

7 swaps   

交换( swap的名词复数 )； 交换物，被掉换者

参考例句：

• He swaps his old car for a new motorcycle. 他用旧车换了一辆新摩托车。 来自英汉 - 翻译样例 - 口语
• Swaps the anchor and end points of the current selection. 交换当前所选内容的定位点和结束点。

8 plumbing   

n.水管装置；水暖工的工作；管道工程v.用铅锤测量（plumb的现在分词）；探究

参考例句：

• She spent her life plumbing the mysteries of the human psyche. 她毕生探索人类心灵的奥秘。
• They're going to have to put in new plumbing. 他们将需要安装新的水管。 来自《简明英汉词典》

9 serpentine   

adj.蜿蜒的，弯曲的

参考例句：

• One part of the Serpentine is kept for swimmers.蜿蜒河的一段划为游泳区。
• Tremolite laths and serpentine minerals are present in places.有的地方出现透闪石板条及蛇纹石。

10 revival   

n.复兴，复苏，（精力、活力等的）重振

参考例句：

• The period saw a great revival in the wine trade.这一时期葡萄酒业出现了很大的复苏。
• He claimed the housing market was showing signs of a revival.他指出房地产市场正出现复苏的迹象。

11 offshore   

adj.海面的，吹向海面的；adv.向海面

参考例句：

• A big program of oil exploration has begun offshore.一个大规模的石油勘探计划正在近海展开。
• A gentle current carried them slowly offshore.和缓的潮流慢慢地把他们带离了海岸。

12 standing   

n.持续，地位；adj.永久的，不动的，直立的，不流动的

参考例句：

• After the earthquake only a few houses were left standing.地震过后只有几幢房屋还立着。
• They're standing out against any change in the law.他们坚决反对对法律做任何修改。

13 proximity   

n.接近，邻近

参考例句：

• Marriages in proximity of blood are forbidden by the law.法律规定禁止近亲结婚。
• Their house is in close proximity to ours.他们的房子很接近我们的。