VOA慢速英语2009-Economics Report - Slowing Exports, High Debt Sh

This is the VOA Special English Economics Report.

Leaders of the European Union met Sunday in Brussels to discuss measures to deal with the world financial crisis. But the emergency meeting showed growing divisions between western European countries and newer members of the European Union.

Economies in central and eastern Europe have been hit hard by the worldwide credit crisis and less demand for exports in western Europe.
　
Hungarian Prime Minister Ferenc Gyurcsany, left, and Czech Prime Minister Mirek Topolanek at the E.U. meeting in Belgium

Hungary's prime minister, Ferenc Gyurscany, has called for two hundred thirty billion dollars in aid for the weakest of the twenty-seven members of the European Union. The leader of Europe's biggest economy, however, opposes such a large plan. German Chancellor¹ Angela Merkel has suggested targeted aid for a few countries instead.

The European Union and the International Monetary² Fund have already lent Hungary twenty-five billion dollars. Latvia received more than nine billion from the I.M.F. in December. But demonstrations³ fueled by the economic crisis led the Latvian government to resign last month.

The World Bank and two European development banks agreed last week to provide up to thirty-one billion dollars in aid to central and eastern Europe. A main concern is that the failure of some banks or governments to pay their debts could send a financial shock across many countries.

The effects could reach beyond central and eastern Europe. Banks in Austria, Italy and Sweden that expanded into the area during good times are now in danger of heavy losses.

Even in countries outside the euro area, like Hungary and Poland, businesses and individuals often borrowed in euros. Lower interest rates made euro loans a good deal at the time. Now, those loans have become more costly⁴ as local currencies have lost value. Chances are greater that foreign currency loans in some countries will not be paid back.

But some of the central and eastern economies in the European Union are in relatively⁵ good health. Poland is the biggest and its economy is less dependent on exports. The Czech Republic is also considered in a better position. The Czechs currently hold the E.U. presidency⁶.

On Wednesday, banking⁷ supervisors⁸ from the Czech Republic, Slovakia, Poland, Romania, Bulgaria and Hungary released a statement. They expressed concerns that information about risks to financial systems in central and eastern Europe is "often simplified and misleading."

And that's the VOA Special English Economics Report, written by Mario Ritter. I'm Steve Ember.

1 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。

2 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。

3 demonstrations   

证明( demonstration的名词复数 )； 表明； 表达； 游行示威

参考例句：

• Lectures will be interspersed with practical demonstrations. 讲课中将不时插入实际示范。
• The new military government has banned strikes and demonstrations. 新的军人政府禁止罢工和示威活动。

4 costly   

adj.昂贵的，价值高的，豪华的

参考例句：

• It must be very costly to keep up a house like this.维修这么一幢房子一定很昂贵。
• This dictionary is very useful,only it is a bit costly.这本词典很有用，左不过贵了些。

5 relatively   

adv.比较...地，相对地

参考例句：

• The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
• The operation was relatively painless.手术相对来说不痛。

6 presidency   

n.总统(校长，总经理)的职位(任期)

参考例句：

• Roosevelt was elected four times to the presidency of the United States.罗斯福连续当选四届美国总统。
• Two candidates are emerging as contestants for the presidency.两位候选人最终成为总统职位竞争者。

7 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。

8 supervisors   

n.监督者，管理者( supervisor的名词复数 )

参考例句：

• I think the best technical people make the best supervisors. 我认为最好的技术人员可以成为最好的管理人员。 来自辞典例句
• Even the foremen or first-level supervisors have a staffing responsibility. 甚至领班或第一线的监督人员也有任用的责任。 来自辞典例句