G20 Agrees to Boost IMF Resources

 　　The Group of 20 leading economies have agreed to boost the resources of the International Monetary¹ Fund to help curb² the European debt crisis.

　　European Union President Herman Van Rompuy said the decision was reached Friday at the G20 summit in the French resort of Cannes. But the shape of the additional aid for the IMF remained uncertain at a time when some of the world's largest economies, such as the U.S. and China, are facing their own economic difficulties.

　　The world leaders discussed a variety of options, including setting aside a special IMF fund for assisting debt-ridden European governments.

　　Efforts to contain the European governmental debt contagion³ remained at the forefront of the G20 discussions, even after Greek Prime Minister George Papandreou on Thursday dropped his plan to hold a referendum on the week-old European debt-relief agreement. Under pressure from the U.S. and emerging economies, Italy agreed that the IMF would monitor implementation⁴ of its austerity measures aimed at keeping it from needing a bailout.

　　On the second and final day of their summit, the world leaders also focused on the stabilization⁵ of the global economy and efforts to boost domestic consumption in their respective countries.

　　Rescue package

　　Thursday's talks were largely overshadowed by Greece's hesitancy to abide⁶ by the terms of the financial rescue package agreed to last week by the European Union, under which European banks plan to forgive $140 billion in Greek debt in exchange for the Athens government's agreement to adopt years of austerity measures that are hugely unpopular in Greece.

　　Late Thursday, French President Nicolas Sarkozy again urged Greece to accept the deal.

　　"I have admiration⁷ for Greece and its people. I have old family ties there, and in no way would I want to give the impression that we are interfering⁸ in their domestic affairs," he said. "But on the other hand, this is about the defense⁹ of the euro and the defense of Europe - and that's our duty. For us, the red line is very simple. Europe and the euro are our homeland - and that has to be defended."

　　Earlier this week, Papandreou caused global financial panic by announcing a nation-wide vote on the bailout plan. He backed off his call for the vote after Greek opposition¹⁰ parties finally agreed to back the rescue package.

　　Sarkozy and German Chancellor¹¹ Angela Merkel have warned that Greece will not receive "one more cent" of the next $11 billion disbursement¹² of its rescue loan scheduled for December 4 unless it implements¹³ the austerity measures.

　　Without the funds, Greece risks a catastrophic debt default within weeks, putting at risk its membership in the 17-member bloc¹⁴ of nations that use the common European currency.

1 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。

2 curb   

n.场外证券市场，场外交易；vt.制止，抑制

参考例句：

• I could not curb my anger.我按捺不住我的愤怒。
• You must curb your daughter when you are in church.你在教堂时必须管住你的女儿。

3 contagion   

n.(通过接触的疾病)传染；蔓延

参考例句：

• A contagion of fear swept through the crowd.一种恐惧感在人群中迅速蔓延开。
• The product contagion effect has numerous implications for marketing managers and retailers.产品传染效应对市场营销管理者和零售商都有很多的启示。

4 implementation   

n.实施，贯彻

参考例句：

• Implementation of the program is now well underway.这一项目的实施现在行情看好。

5 Stabilization   

稳定化

参考例句：

• The position of barycentre on plane directly impacts the stabilization and manipulation of plane. 飞机重心位置直接影响飞机的稳定和操纵特性。
• With the higher olefins, stabilization of the energetic intermediates occurs more easily. 在较高的烯烃情况下，高能的中间物稳定作用更易出现。

6 abide   

vi.遵守；坚持；vt.忍受

参考例句：

• You must abide by the results of your mistakes.你必须承担你的错误所造成的后果。
• If you join the club,you have to abide by its rules.如果你参加俱乐部，你就得遵守它的规章。

7 admiration   

n.钦佩，赞美，羡慕

参考例句：

• He was lost in admiration of the beauty of the scene.他对风景之美赞不绝口。
• We have a great admiration for the gold medalists.我们对金牌获得者极为敬佩。

8 interfering   

adj. 妨碍的 动词interfere的现在分词

参考例句：

• He's an interfering old busybody! 他老爱管闲事！
• I wish my mother would stop interfering and let me make my own decisions. 我希望我母亲不再干预，让我自己拿主意。

9 defense   

n.防御，保卫；[pl.]防务工事；辩护，答辩

参考例句：

• The accused has the right to defense.被告人有权获得辩护。
• The war has impacted the area with military and defense workers.战争使那个地区挤满了军队和防御工程人员。

10 opposition   

n.反对，敌对

参考例句：

• The party leader is facing opposition in his own backyard.该党领袖在自己的党內遇到了反对。
• The police tried to break down the prisoner's opposition.警察设法制住了那个囚犯的反抗。

11 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。

12 disbursement   

n.支付，付款

参考例句：

• Marine bill of lading showing any disbursement charges marked COLLECT not acceptable. 海运提单上显示的任何费用标明“到付”将不予接受。
• This makes the disbursement of 51 channel is very convenient. 这就使得51的支付渠道非常方便。

13 implements   

n.工具( implement的名词复数 )；家具；手段；[法律]履行（契约等）v.实现( implement的第三人称单数 )；执行；贯彻；使生效

参考例句：

• Primitive man hunted wild animals with crude stone implements. 原始社会的人用粗糙的石器猎取野兽。 来自《现代汉英综合大词典》
• They ordered quantities of farm implements. 他们订购了大量农具。 来自《现代汉英综合大词典》

14 bloc   

n.集团；联盟

参考例句：

• A solid bloc of union members support the decision.工会会员团结起来支持该决定。
• There have been growing tensions within the trading bloc.贸易同盟国的关系越来越紧张。