VOA标准英语2011Europe Struggles to Restore Confidence in Troubled Economies

Europe Struggles to Restore Confidence in Troubled Economies

Greece named a new prime minister Thursday, and Italy is planning to do the same fairly soon, as European leaders move to regain¹ the confidence of financial markets and to ensure that the region’s economic crisis does not get any worse.

Greece chose economist² Lucas Papademos to head its interim³ government, with the goal of getting the tough conditions of the European financial rescue package approved.

Italy’s embattled Prime Minister Silvio Berlusconi is also expected to give way to an interim government, perhaps also to be led by an economist.

The goal is to restore confidence in the two troubled economies and their leadership, and to stabilize⁴ financial markets, in the hope of avoiding the kind of dire⁵ consequences highlighted by headline writers in recent days.

But Economist Ben May at London’s Capital Economics analysis firm says it is not all about image and confidence. He says Italy’s debt is so high that even as the world’s eighth-largest economy it will not be able to pay all of it back, with huge regional and global repercussions⁶.

“Clearly what has happened now is fears about Italy are growing and certainly we think there is a real chance it might have to default to get its debts down to a sustainable level," said May.

Italian-born political economist Leila Simona Talani of London’s King’s College says such concerns are unwarranted.

“I do not think it is unsustainable," said Talani. "I know that non-Italians have the feeling that it is not possible to handle such a huge debt. It is a huge debt. Italians know, however, that this debt is financed by Italians, and is very likely to keep on being financed, even in a higher percentage than before, by Italians.”

But the European Union is imposing⁷ tough conditions on continued financing of the troubled economies, and insisting on tighter monitoring.

Already, austerity plans are causing social unrest, particularly in Greece.

Even in Britain there have been demonstrations⁸, including one this week by students protesting higher tuition fees caused by government spending cuts designed to avoid an Italian or Greek scenario⁹.

Some experts are concerned about an austerity-based approach that could lead to many years of recession in some countries, and have begun to call for targeted spending to stimulate¹⁰ growth.

“You lost competitiveness," said Talani. "You lost productivity. So you have to invest in these.”

And that is a tough thing for European leaders to contemplate¹¹ as they focus on reducing debt and convincing banks and investors¹² that, with help, troubled countries can live within their means.

1 regain   

vt.重新获得，收复，恢复

参考例句：

• He is making a bid to regain his World No.1 ranking.他正为重登世界排名第一位而努力。
• The government is desperate to regain credibility with the public.政府急于重新获取公众的信任。

2 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。

3 interim   

adj.暂时的，临时的；n.间歇，过渡期间

参考例句：

• The government is taking interim measures to help those in immediate need.政府正在采取临时措施帮助那些有立即需要的人。
• It may turn out to be an interim technology.这可能只是个过渡技术。

4 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。

5 dire   

adj.可怕的，悲惨的，阴惨的，极端的

参考例句：

• There were dire warnings about the dangers of watching too much TV.曾经有人就看电视太多的危害性提出严重警告。
• We were indeed in dire straits.But we pulled through.那时我们的困难真是大极了，但是我们渡过了困难。

6 repercussions   

n.后果，反响( repercussion的名词复数 )；余波

参考例句：

• The collapse of the company will have repercussions for the whole industry. 这家公司的垮台将会给整个行业造成间接的负面影响。
• Human acts have repercussions far beyond the frontiers of the human world. 人类行为所产生的影响远远超出人类世界的范围。 来自《简明英汉词典》

7 imposing   

adj.使人难忘的，壮丽的，堂皇的，雄伟的

参考例句：

• The fortress is an imposing building.这座城堡是一座宏伟的建筑。
• He has lost his imposing appearance.他已失去堂堂仪表。

8 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。

9 scenario   

n.剧本，脚本；概要

参考例句：

• But the birth scenario is not completely accurate.然而分娩脚本并非完全准确的。
• This is a totally different scenario.这是完全不同的剧本。

10 stimulate   

vt.刺激，使兴奋；激励，使…振奋

参考例句：

• Your encouragement will stimulate me to further efforts.你的鼓励会激发我进一步努力。
• Success will stimulate the people for fresh efforts.成功能鼓舞人们去作新的努力。

11 contemplate   

vt.盘算，计议；周密考虑；注视，凝视

参考例句：

• The possibility of war is too horrifying to contemplate.战争的可能性太可怕了，真不堪细想。
• The consequences would be too ghastly to contemplate.后果不堪设想。

12 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会