VOA慢速英语2011--EU Officials Urge Tighter Fiscal Rules for Euro Countries

Economics Report - EU Officials Urge Tighter Fiscal¹ Rules for Euro Countries

 

This is the VOA Special English Economics Report.

Stock prices around the world rose and fell this week on news of efforts to help countries using the euro.

The European Central Bank took action Wednesday to support the worldwide financial system. Central banks in Britain, Canada, Japan, Switzerland and the United States also acted.

The banks made it less costly² for other countries to borrow American dollars. The United States Federal Reserve said the joint³ effort was meant to help central banks in Europe provide financial support to nations that need it. The action sent American stock measures up more than three percent.

On Thursday, European Central Bank President Mario Draghi suggested that the ECB may provide new financial support for European countries struggling with debt. But first, he said, euro-area countries must establish trust by enacting⁴ big financial reforms. He called for a new fiscal compact, or financial agreement.

MARIO DRAGHI: "A credible⁵ signal is needed to give ultimate assurance over the short term. What I believe our economic and monetary⁶ union needs is a new fiscal compact, a fundamental restatement of the fiscal rules together with the mutual⁷ fiscal commitments that euro area governments have made."

Italy's Prime Minister, Mario Monti,left, talks with President of the European Central Bank Mario Draghi, before a meeting of EU finance ministers in Brussels.

Seventeen members of the European Union share the euro currency. Concern over its future has been building in recent years. The Greek debt crisis, rescue loans for Ireland and Portugal, and worries over Italy’s debt have all increased fears that Europe may have to abandon the euro.

The euro is the world’s second most traded and second most used reserve currency after the United States dollar.

European finance ministers failed to agree on a plan to provide economic support for debt-troubled countries last month. European Economic Commissioner⁸ Olli Rehn says the need for agreement is urgent.

OLLI REHN: "Overall, I could say that we are now entering the critical period of 10 days to complete and conclude the crisis response over the European Union.”

Financial officials say a lack of economic and financial cooperation is at the heart of the two-year debt crisis. Dutch Finance Minister Jan Kees de Jager said the need for tougher rules is deep.

JAN KEES DE JAGER: "Lack of economic reforms and lack of fiscal discipline has brought us into this crisis. So you also have to address these fundamental issues."

That means euro-nations may have to surrender some power over their budgets to the European Union.

European finance ministers have so far failed to agree to increasing the size of an emergency fund for troubled European economies. They hope to reach some agreement before a meeting of European leaders set for December eighth and ninth.

And that's the VOA Special English Economics Report. Lisa Bryant contributed to this report. I'm June Simms.

1 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

2 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。

3 joint   

adj.联合的，共同的；n.关节，接合处；v.连接，贴合

参考例句：

• I had a bad fall,which put my shoulder out of joint.我重重地摔了一跤，肩膀脫臼了。
• We wrote a letter in joint names.我们联名写了封信。

4 enacting   

制定（法律），通过（法案）( enact的现在分词 )

参考例句：

• Generally these statutes apply only to wastes from reactors outside the enacting state. 总之，这些法令只适宜用在对付那些来自外州的核废料。 来自英汉非文学 - 环境法 - 环境法
• In addition, the complexion of enacting standards for live working is described. 另外，介绍了带电作业标准的制订情况。

5 credible   

adj.可信任的，可靠的

参考例句：

• The news report is hardly credible.这则新闻报道令人难以置信。
• Is there a credible alternative to the nuclear deterrent?是否有可以取代核威慑力量的可靠办法？

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 mutual   

adj.相互的，彼此的；共同的，共有的

参考例句：

• We must pull together for mutual interest.我们必须为相互的利益而通力合作。
• Mutual interests tied us together.相互的利害关系把我们联系在一起。

8 commissioner   

n.（政府厅、局、处等部门）专员，长官，委员

参考例句：

• The commissioner has issued a warrant for her arrest.专员发出了对她的逮捕令。
• He was tapped for police commissioner.他被任命为警务处长。