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(单词翻译:双击或拖选)
HARI SREENIVASAN: Now to Greece, where Prime Minister Alexis Tsipras is running out of time to save his country from potential economic collapse1.
Tsipras will make his case for financial relief at an emergency Eurozone summit tomorrow, hoping to head off a looming2 1.6 billion euro debt payment which is due by June 30.
Wall Street Journal reporter Ian Talley joins me to explain what's at stake in these negotiations3.
So, Ian, we all kind of have this debt fatigue4, this cycle. Greece is on the brink5, and Greece is not on the brink. And, well, what is at stake tomorrow? How significant is this?
It's the heads of state meeting, after a finance ministers meeting had failed to get agreement after months of negotiations. What's at stake is a failed state in Europe. What is at stake is a potential financial contagion7. A lot of people say that Europe is much better prepared.
But, as Ben Bernanke said the mortgage crisis wasn't at hand right before the financial crisis, no one really knows how bad things could get.
HARI SREENIVASAN: Yes. We have seen video of people kind of making a run on the banks on Friday and Saturday, taking out money from ATMs and — because they're so uncertain on what's going to happen tomorrow.
IAN TALLEY: Yes.
I think, if there's a decision tomorrow, a deal, then there could be a slow unwinding of the crisis over the months. But few people are giving that deal good odds8. More likely is failure to get agreement, and Tuesday comes along, and there's basically financial martial9 law imposed, capital controls, so that frantic10 customers, markets, depositors can't take their cash out en masse, which would put Greece, already in a crisis, into a financial maelstrom11.
HARI SREENIVASAN: And what happens to their membership in the Eurozone if this debt deal doesn't goes through?
IAN TALLEY: That's a really unanswered question.
I think a lot of people had been warning of a Greek exit. There certainly is a risk of that. Nobody is ruling that out. At the same time, there are other possibilities, where Greece could issue IOUs in — denominated in euros that could keep it within the political zone, yet within still having a financial and a political crisis.
There is still — there is very much a risk of a Greek exit. I think another worry about, not just Greece — Greece exiting, is that being the first domino of other political factions12 gaining ground in Europe that also want to leave Europe. You could see the beginning of the end of the monetary13 union as we know it, though many analysts14 and economists15 say that that is not the likeliest option.
There still is a desire in Greece, there still is desire in Europe to hold that monetary union together. So, while tomorrow is a critical juncture, it is not the complete endgame.
HARI SREENIVASAN: All right, Ian Talley of The Wall Street Journal joining us from Washington, thanks so much.
IAN TALLEY: Great. Thank you.
点击收听单词发音
1 collapse | |
vi.累倒;昏倒;倒塌;塌陷 | |
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2 looming | |
n.上现蜃景(光通过低层大气发生异常折射形成的一种海市蜃楼)v.隐约出现,阴森地逼近( loom的现在分词 );隐约出现,阴森地逼近 | |
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3 negotiations | |
协商( negotiation的名词复数 ); 谈判; 完成(难事); 通过 | |
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4 fatigue | |
n.疲劳,劳累 | |
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5 brink | |
n.(悬崖、河流等的)边缘,边沿 | |
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6 juncture | |
n.时刻,关键时刻,紧要关头 | |
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7 contagion | |
n.(通过接触的疾病)传染;蔓延 | |
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8 odds | |
n.让步,机率,可能性,比率;胜败优劣之别 | |
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9 martial | |
adj.战争的,军事的,尚武的,威武的 | |
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10 frantic | |
adj.狂乱的,错乱的,激昂的 | |
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11 maelstrom | |
n.大乱动;大漩涡 | |
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12 factions | |
组织中的小派别,派系( faction的名词复数 ) | |
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13 monetary | |
adj.货币的,钱的;通货的;金融的;财政的 | |
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14 analysts | |
分析家,化验员( analyst的名词复数 ) | |
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15 economists | |
n.经济学家,经济专家( economist的名词复数 ) | |
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