经济学人:商业模式:欧洲央行的货币刺激政策

 　　Mario Draghi defended negative rates in a speech to the legislative¹ assembly in the Netherlands.  Mario Draghi在荷兰立法会上的一次演说中为负利率辩护。

　　It was a rare trip to a national parliament by the president of the European Central Bank.  欧洲央行主席出席一国议会尚属罕见。

　　Along with their German counterparts, Dutch politicians have been the most vocal² critics of the ECB’s monetary³ stimulus,  荷兰政客与他们的德国对手一道，对欧洲央行的货币刺激政策给予最直言不讳的批评。

　　which, they say, helps profligate⁴ countries in the euro zone at the expense of banks and savers in more frugal⁵ ones. 他们称，货币刺激政策以节俭国的银行与储户为代价，为欧元区的奢侈国家提供帮助。

　　A rally in Greek government debt continued, with the yield on the benchmark ten-year bond falling to 5.5%, the lowest since its debt restructuring in 2012.  希腊政府债务状况正在继续复苏中，十年期国债基准收益率降至5.5%，为2012年债务重组以来的最低点。

　　The government recently agreed to a series of reforms in order to unlock the latest tranche of loans under the rescue package agreed with international creditors⁶. 希腊政府最近通过了一系列的改革措施，目的是在与国际债权人协议的救助措施下，解锁贷款的分期份额。

　　The European Bank for Reconstruction⁷ and Development flatly rejected a plea by Russia to end its freeze on investment in the country,  欧洲重建与发展银行断然拒绝了俄罗斯关于解冻向该国投资的请求。

　　which was introduced as a result of the conflict in Ukraine in 2014.  投资冻结是2014年乌克兰发生冲突时的结果。

　　The EBRD was created in 1991 to help post-Soviet countries make the transition to democracy.  欧洲重建与发展银行成立于1991年，帮助前苏维埃国家向民主制度过渡。

　　Russia claims the ban on investment is affecting the whole economy and breaches⁸ EBRD rules. 俄罗斯称投资禁令正在影响整个经济体，并违背了欧洲重建与发展银行的准则。

　　Oil prices recouped some of their recent losses.  油价恢复了最近的部分损失。

　　After falling by 6% in the space of a week to a five-month low, Brent crude rose to over $50 a barrel.  布伦特原油价格在一周的时间里下跌了6%后，回升至每桶50多美元。

　　Prices were boosted in part by comments from the Russian and Saudi energy ministers about the possibility of extending a deal that cuts oil production. 俄罗斯与沙特的能源部长在各自评论中表示有可能扩展削减石油产量的协定，这是油价升高的原因之一。

1 legislative   

n.立法机构，立法权；adj.立法的，有立法权的

参考例句：

• Congress is the legislative branch of the U.S. government.国会是美国政府的立法部门。
• Today's hearing was just the first step in the legislative process.今天的听证会只是展开立法程序的第一步。

2 vocal   

adj.直言不讳的；嗓音的；n.[pl.]声乐节目

参考例句：

• The tongue is a vocal organ.舌头是一个发音器官。
• Public opinion at last became vocal.终于舆论哗然。

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 profligate   

adj.行为不检的；n.放荡的人，浪子，肆意挥霍者

参考例句：

• This young man had all the inclination to be a profligate of the first water.这个青年完全有可能成为十足的浪子。
• Similarly Americans have been profligate in the handling of mineral resources.同样的，美国在处理矿产资源方面亦多浪费。

5 frugal   

adj.节俭的，节约的，少量的，微量的

参考例句：

• He was a VIP,but he had a frugal life.他是位要人，但生活俭朴。
• The old woman is frugal to the extreme.那老妇人节约到了极点。

6 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》

7 reconstruction   

n.重建，再现，复原

参考例句：

• The country faces a huge task of national reconstruction following the war.战后，该国面临着重建家园的艰巨任务。
• In the period of reconstruction,technique decides everything.在重建时期，技术决定一切。

8 breaches   

破坏( breach的名词复数 )； 破裂； 缺口； 违背

参考例句：

• He imposed heavy penalties for breaches of oath or pledges. 他对违反誓言和保证的行为给予严厉的惩罚。
• This renders all breaches of morality before marriage very uncommon. 这样一来，婚前败坏道德的事就少见了。