VOA标准英语2011--Moody's Threatens Downgrade of France's Triple A Rating

Moody's Threatens Downgrade of France's Triple A Rating

The Moody's ratings agency warns that France's credit rating could be downgraded in the next three months if the nation's budget is stretched further by bank bailouts to help other debt-heavy eurozone countries. France has vowed¹ to defend its AAA credit rating. A potential downgrade could complicate² the European Union's efforts to stabilize³ the region.

France, the eurozone's second largest economy, is under pressure to find solutions to the region's mounting debt problems. Given the nation's lackluster growth this year and its exposure to Greek debt, the ratings agency Moody's warns that France could be dragged into a costly⁴ bank bailout, dashing hopes of finding a quick fix.

Robert Halver at Baader Bank AG says the threat is real. "Because regarding the economy, it's weakening definitely and the most important point is that the French Republic and their policy is not able to find a solution common with Germany, to have a clear solution, a long-lasting solution for the eurozone. And that's why the rating agencies have all the power to downgrade France," Halver said.

The warning comes after Moody's downgraded Spain's sovereign rating by two notches⁵ -- and just days ahead of a crucial EU summit Sunday aimed at strengthening Europe's financial stability fund.

Economist⁶ James Ashley at RBC Capital Markets expects some progress.

"I think we will see significant steps forward this weekend but I don't think it's the end of the crisis. I don't think we come in on Monday morning and the market thinks this thing is over. But I do think we'll see significant steps both on Greece, EFSF reform, and private sector⁷ involvement in terms of future bailouts," Ashley said.

Despite the potential damage to investor⁸ confidence, European markets were mostly upbeat Wednesday.

Investment fund manager Nathalie Pelras sees the warning as an urgent call to action. "It's more to push the government to act in the next three months, so it's more like an alert. It's in anticipation⁹ and it's maybe a good thing for an agency, because for the first time, they just say: be careful without downgrading the outlook," Pelras said.

Financial markets have experienced wild swings from one day to the next in anticipation of a dramatic plan that will stabilize debt-heavy countries such as Greece, and guarantee the future viability¹⁰ of all 17 countries that use the euro.

1 vowed   

起誓，发誓（vow的过去式与过去分词形式）

参考例句：

• He vowed quite solemnly that he would carry out his promise. 他非常庄严地发誓要实现他的诺言。
• I vowed to do more of the cooking myself. 我发誓自己要多动手做饭。

2 complicate   

vt.使复杂化，使混乱，使难懂

参考例句：

• There is no need to complicate matters.没有必要使问题复杂化。
• These events will greatly complicate the situation.这些事件将使局势变得极其复杂。

3 stabilize   

vt.（使）稳定，使稳固，使稳定平衡；vi.稳定

参考例句：

• They are eager to stabilize currencies.他们急于稳定货币。
• His blood pressure tended to stabilize.他的血压趋向稳定。

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 notches   

n.（边缘或表面上的）V型痕迹( notch的名词复数 )；刻痕；水平；等级

参考例句：

• The Indians cut notches on a stick to keep count of numbers. 印第安人在棒上刻V形凹痕用来计数。 来自《现代英汉综合大词典》
• They cut notches in the handle of their pistol for each man they shot. 他们每杀一个人就在枪托上刻下一个V形记号。 来自辞典例句

6 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

7 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

8 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

9 anticipation   

n.预期，预料，期望

参考例句：

• We waited at the station in anticipation of her arrival.我们在车站等着，期待她的到来。
• The animals grew restless as if in anticipation of an earthquake.各种动物都变得焦躁不安，像是感到了地震即将发生。

10 viability   

n.存活(能力)

参考例句：

• What is required to achieve or maintain such viability? 要达到或维持这种生存能力需要什么？
• Scientists are experimenting to find ways to ensure the viability of seeds for even longer periods of time. 正如我们所说，科学家正在试验努力寻找让种子的生命力更加延长的方法。