欧元区经济
<p> 2015复习正是强化复习阶段，在考研英语中占了40分，所以考研英语阅读是英语科目中重要的一项。名师老师曾建议过考研生需要坚持每天泛读10-15分钟的英文原刊。强烈推荐了杂志《经济学人》.杂志中的文章也是考研英语的主要材料来源.希望考研考生认真阅读，快速提高考研英语阅读水平。 <span word="The">The</span> <span word="euro">euro</span>-<span word="zone">zone</span> <span word="economy">economy</span> 欧元区经济 <span word="Cyclical">Cyclical</span> <span word="stagnation">stagnation</span> 周期性萧条 <span word="The">The</span> <span word="recovery">recovery</span> <span word="grinds">grinds</span> <span word="to">to</span> <span word="a">a</span> <span word="halt">halt</span> 复苏放缓 <span word="THIS">THIS</span> <span word="week">week</span> <span word="s">s</span> <span word="figures">figures</span> <span word="for">for</span> <span word="the">the</span> <span word="euro">euro</span>-<span word="zone">zone</span> <span word="economywere">economywere</span> <span word="dispiriting">dispiriting</span> <span word="by">by</span> <span word="any">any</span> <span word="measure">measure</span>. <span word="An">An</span> <span word="alreadyfeeble">alreadyfeeble</span> <span word="and">and</span> <span word="faltering">faltering</span> <span word="recovery">recovery</span> <span word="has">has</span> <span word="stumbled">stumbled</span>. <span word="Output">Output</span> <span word="across">across</span> <span word="the">the</span> <span word="euro">euro</span> <span word="area">area</span> <span word="was">was</span> <span word="flat">flat</span> <span word="in">in</span> <span word="thesecond">thesecond</span> <span word="quarter">quarter</span>. <span word="That">That</span> <span word="followed">followed</span> <span word="a">a</span> <span word="poor">poor</span> <span word="start">start</span> <span word="to">to</span> <span word="the">the</span> <span word="year">year</span> <span word="when">when</span> <span word="the">the</span> <span word="single">single</span>-<span word="currency">currency</span> <span word="clubmanaged">clubmanaged</span> <span word="to">to</span> <span word="grow">grow</span> <span word="by">by</span> <span word="just">just</span> 0.2%. 无论怎么看，欧元区本周的经济数据都是令人失望的，疲软脆弱的复苏已经摇摇欲坠。第二季度欧元区的<span word="GDP">GDP</span>增长速度为零，而在此之前的第一季度，这个单一货币组织仅仅实现了0.2%的增长。 <span word="There">There</span> <span word="were">were</span> <span word="some">some</span> <span word="bright">bright</span> <span word="spots">spots</span> <span word="in">in</span> <span word="the">the</span> <span word="bulletin">bulletin</span> <span word="of">of</span> <span word="misery">misery</span>. <span word="Both">Both</span> <span word="the">the</span> <span word="Dutch">Dutch</span> <span word="and">and</span> <span word="Portugueseeconomies">Portugueseeconomies</span>, <span word="which">which</span> <span word="had">had</span> <span word="contracted">contracted</span> <span word="in">in</span> <span word="the">the</span> <span word="first">first</span> <span word="quarter">quarter</span>, <span word="rebounded">rebounded</span>, <span word="growing">growing</span> <span word="by">by</span> 0.5% <span word="and">and</span> 0.6%<span word="respectively">respectively</span>. <span word="Spanish">Spanish</span> <span word="growth">growth</span> <span word="picked">picked</span> <span word="up">up</span> <span word="from">from</span> 0.4% <span word="in">in</span> <span word="the">the</span> <span word="first">first</span> <span word="quarter">quarter</span> <span word="to">to</span> 0.6% <span word="in">in</span> <span word="the">the</span> <span word="second">second</span>.<span word="But">But</span> <span word="these">these</span> <span word="perky">perky</span> <span word="performances">performances</span> <span word="were">were</span> <span word="overshadowed">overshadowed</span> <span word="by">by</span> <span word="the">the</span> <span word="poor">poor</span> <span word="figures">figures</span> <span word="recorded">recorded</span> <span word="in">in</span> <span word="the">the</span> <span word="threebiggest">threebiggest</span> <span word="economies">economies</span>. <span word="Italy">Italy</span>, <span word="the">the</span> <span word="third">third</span> <span word="largest">largest</span>, <span word="had">had</span> <span word="already">already</span> <span word="reported">reported</span> <span word="a">a</span> <span word="decline">decline</span> <span word="of">of</span> 0.2%, <span word="pushingit">pushingit</span> <span word="into">into</span> <span word="a">a</span> <span word="triple">triple</span>-<span word="dip">dip</span> <span word="recession">recession</span>. <span word="France">France</span>, <span word="the">the</span> <span word="second">second</span> <span word="biggest">biggest</span>, <span word="continued">continued</span> <span word="to">to</span> <span word="stagnate">stagnate</span>. <span word="But">But</span> <span word="the">the</span> <span word="realblow">realblow</span> <span word="came">came</span> <span word="from">from</span> <span word="Germany">Germany</span>, <span word="the">the</span> <span word="powerhouse">powerhouse</span> <span word="of">of</span> <span word="the">the</span> <span word="euro">euro</span> <span word="zone">zone</span>, <span word="where">where</span> <span word="output">output</span> <span word="slipped">slipped</span> <span word="by">by</span> 0.2%. 在整个欧元区的阴霾中仍有几缕阳光。荷兰和葡萄牙继第一季度的经济萎缩后，在第二季度有所反弹，增长率分别达到0.5%和0.6%。西班牙的经济增速也从第一季度的0.4%攀升到第二季度的0.6%。然而，这些姣好的成绩被欧元区中最大的三个国家的经济数据冲淡了。意大利，欧元区的第三大经济体，已经公布了0.2%的衰退，这使得意大利陷入了自2008年经济危机以来的第三个衰退期。法国，欧元区的第二大经济体，其经济增长仍然保持停滞。但是最致命的一击来自德国，作为欧元区的驱动机，其<span word="GDP">GDP</span>下滑了0.2%。 <span word="The">The</span> <span word="setback">setback</span> <span word="may">may</span> <span word="reflect">reflect</span> <span word="some">some</span> <span word="temporary">temporary</span> <span word="factors">factors</span>, <span word="as">as</span> <span word="workers">workers</span> <span word="took">took</span> <span word="extra">extra</span> <span word="time">time</span> <span word="off">off</span> <span word="afterpublic">afterpublic</span> <span word="holidays">holidays</span>. <span word="German">German</span> <span word="output">output</span> <span word="was">was</span> <span word="also">also</span> <span word="depressed">depressed</span> <span word="by">by</span> <span word="a">a</span> <span word="fall">fall</span> <span word="in">in</span> <span word="construction">construction</span>, <span word="some">some</span> <span word="ofwhich">ofwhich</span> <span word="had">had</span> <span word="been">been</span> <span word="brought">brought</span> <span word="forward">forward</span> <span word="to">to</span> <span word="the">the</span> <span word="first">first</span> <span word="quarter">quarter</span> <span word="thanks">thanks</span> <span word="to">to</span> <span word="warm">warm</span> <span word="weather">weather</span>. <span word="This">This</span> <span word="effectshould">effectshould</span> <span word="also">also</span> <span word="be">be</span> <span word="temporary">temporary</span>. <span word="However">However</span>, <span word="the">the</span> <span word="tensions">tensions</span> <span word="between">between</span> <span word="Europe">Europe</span> <span word="and">and</span> <span word="Russia">Russia</span> <span word="over">over</span> <span word="Ukraineand">Ukraineand</span> <span word="the">the</span> <span word="resulting">resulting</span> <span word="sanctions">sanctions</span> <span word="may">may</span> <span word="adversely">adversely</span> <span word="affect">affect</span> <span word="German">German</span> <span word="growth">growth</span> <span word="in">in</span> <span word="the">the</span> <span word="coming">coming</span> <span word="months">months</span>. 这次衰退可能反映了一些时事问题，比如工人罢工。德国的萧条部分是因为建筑业的下滑，由于气候原因一些工程已经被提前到第一季度实施。这些因素都是暂时的。然而，欧盟和俄罗斯在乌克兰事件上紧张关系，以及由此产生的制裁可能在未来一段时间内对德国的经济增长有不利影响。 <span word="The">The</span> <span word="new">new</span> <span word="GDP">GDP</span> <span word="figures">figures</span> <span word="are">are</span> <span word="yet">yet</span> <span word="more">more</span> <span word="evidence">evidence</span> <span word="that">that</span> <span word="the">the</span> <span word="euro">euro</span>-<span word="zone">zone</span> <span word="economy">economy</span> <span word="is">is</span> <span word="in">in</span> <span word="a">a</span> <span word="bad">bad</span> <span word="way">way</span>,<span word="not">not</span> <span word="least">least</span> <span word="since">since</span> <span word="it">it</span> <span word="has">has</span> <span word="come">come</span> <span word="to">to</span> <span word="rely">rely</span> <span word="so">so</span> <span word="heavily">heavily</span> <span word="upon">upon</span> <span word="Germany">Germany</span>, <span word="which">which</span> <span word="had">had</span> <span word="grown">grown</span> <span word="by">by</span> 0.7% <span word="in">in</span> <span word="thefirst">thefirst</span> <span word="quarter">quarter</span>. <span word="It">It</span> <span word="is">is</span> <span word="not">not</span> <span word="only">only</span> <span word="that">that</span> <span word="growth">growth</span> <span word="is">is</span> <span word="evaporating">evaporating</span>; <span word="inflation">inflation</span> <span word="is">is</span> <span word="also">also</span> <span word="extraordinarily">extraordinarily</span> <span word="low">low</span>. <span word="InJuly">InJuly</span> <span word="it">it</span> <span word="was">was</span> <span word="only">only</span> 0.4%, <span word="far">far</span> <span word="below">below</span> <span word="the">the</span> <span word="target">target</span> <span word="of">of</span> <span word="just">just</span> <span word="below">below</span> 2% <span word="set">set</span> <span word="by">by</span> <span word="the">the</span> <span word="European">European</span> <span word="CentralBank">CentralBank</span> . <span word="Consistently">Consistently</span> <span word="low">low</span> <span word="inflation">inflation</span> <span word="has">has</span> <span word="prompted">prompted</span> <span word="fears">fears</span> <span word="that">that</span> <span word="Europe">Europe</span> <span word="will">will</span> <span word="soon">soon</span> <span word="slide">slide</span> <span word="intodeflation">intodeflation</span>. <span word="Prices">Prices</span> <span word="are">are</span> <span word="already">already</span> <span word="falling">falling</span> <span word="in">in</span> <span word="Spain">Spain</span> <span word="and">and</span> <span word="three">three</span> <span word="other">other</span> <span word="euro">euro</span>-<span word="zone">zone</span> <span word="countries">countries</span>. 新的<span word="GDP">GDP</span>数据还表明，欧元区经济增长呈现颓势，尤其是它对德国强烈的依赖--德国在第一季度的增速为0.7%。经济恶化不仅是因为这个增长速度已经不复存在了，还因为极低的通胀水平。七月份的通胀水平仅为0.4%，远远低于欧洲中央银行设立的略低于2%的目标。持续的低通胀水平让人担忧欧洲可能即将进入通货紧缩期。西班牙以及其他三个欧元区国家的物价早已经开始下降了。 <span word="Deflation">Deflation</span> <span word="would">would</span> <span word="be">be</span> <span word="particularly">particularly</span> <span word="grave">grave</span> <span word="for">for</span> <span word="the">the</span> <span word="euro">euro</span> <span word="area">area</span> <span word="because">because</span> <span word="both">both</span> <span word="private">private</span> <span word="and">and</span> <span word="public">public</span> <span word="debtis">debtis</span> <span word="so">so</span> <span word="high">high</span> <span word="in">in</span> <span word="many">many</span> <span word="of">of</span> <span word="the">the</span> 18 <span word="countries">countries</span> <span word="that">that</span> <span word="share">share</span> <span word="the">the</span> <span word="single">single</span> <span word="currency">currency</span>. <span word="Even">Even</span> <span word="if">if</span> <span word="inflation">inflation</span> <span word="ispositive">ispositive</span> <span word="but">but</span> <span word="stays">stays</span> <span word="low">low</span> <span word="it">it</span> <span word="hurts">hurts</span> <span word="debtors">debtors</span>, <span word="as">as</span> <span word="their">their</span> <span word="incomes">incomes</span> <span word="rise">rise</span> <span word="more">more</span> <span word="slowly">slowly</span> <span word="than">than</span> <span word="they">they</span> <span word="expectedwhen">expectedwhen</span> <span word="they">they</span> <span word="borrowed">borrowed</span>. <span word="If">If</span> <span word="deflation">deflation</span> <span word="were">were</span> <span word="to">to</span> <span word="set">set</span> <span word="in">in</span>, <span word="the">the</span> <span word="effects">effects</span> <span word="would">would</span> <span word="be">be</span> <span word="worse">worse</span> <span word="still">still</span>: <span word="when">when</span> <span word="pricesand">pricesand</span> <span word="wages">wages</span> <span word="fall">fall</span>, <span word="debts">debts</span>, <span word="which">which</span> <span word="do">do</span> <span word="not">not</span> <span word="shrink">shrink</span>, <span word="become">become</span> <span word="harder">harder</span> <span word="to">to</span> <span word="repay">repay</span>. 通货紧缩对于欧元区是非常严重的，因为在使用单一货币的18个国家中，私人债务和公共债务大都相当繁重。即使是偏低的正水平通胀也会伤害到债务人，因为他们收入的增长要比借债时候的预期慢。如果通货紧缩真的到来，其影响将会很糟糕：当物价和工资都降低了，债务却并不同时缩减，因此偿还债务变得更加困难。 <span word="The">The</span> <span word="poor">poor</span> <span word="GDP">GDP</span> <span word="figures">figures</span> <span word="will">will</span> <span word="intensify">intensify</span> <span word="pressure">pressure</span> <span word="on">on</span> <span word="the">the</span> <span word="ECB">ECB</span> <span word="to">to</span> <span word="do">do</span> <span word="more">more</span>. <span word="Already">Already</span> <span word="in">in</span> <span word="June">June</span> <span word="itlowered">itlowered</span> <span word="its">its</span> <span word="main">main</span> <span word="borrowing">borrowing</span> <span word="rate">rate</span> <span word="to">to</span> <span word="just">just</span> 0.15% <span word="and">and</span> <span word="became">became</span> <span word="the">the</span> <span word="first">first</span> <span word="big">big</span> <span word="central">central</span> <span word="bank">bank</span> <span word="tointroduce">tointroduce</span> <span word="negative">negative</span> <span word="interest">interest</span> <span word="rates">rates</span>, <span word="in">in</span> <span word="effect">effect</span> <span word="charging">charging</span> <span word="banks">banks</span> <span word="for">for</span> <span word="deposits">deposits</span> <span word="they">they</span> <span word="leave">leave</span> <span word="with">with</span> <span word="it">it</span>.<span word="That">That</span> <span word="has">has</span> <span word="helped">helped</span> <span word="bring">bring</span> <span word="short">short</span>-<span word="term">term</span>, <span word="wholesale">wholesale</span> <span word="interest">interest</span> <span word="rates">rates</span> <span word="close">close</span> <span word="to">to</span> <span word="zero">zero</span> <span word="and">and</span> <span word="has">has</span> <span word="alsoweakened">alsoweakened</span> <span word="the">the</span> <span word="euro">euro</span>. <span word="Both">Both</span> <span word="these">these</span> <span word="effects">effects</span> <span word="will">will</span> <span word="help">help</span> <span word="to">to</span> <span word="bolster">bolster</span> <span word="the">the</span> <span word="economy">economy</span> <span word="and">and</span> <span word="restore">restore</span> <span word="growth">growth</span>. 低靡的<span word="GDP">GDP</span>数据将迫使欧洲央行采取更多的措施。早在今年六月，就将基准利率低到了0.15%，成为引进负利率的第一大央行，实际上对银行存留的资金收取利息。这项举措使得短期大额利率接近零，同时欧元走弱。这两种效应都有助于经济复苏。 <span word="As">As</span> <span word="well">well</span> <span word="as">as</span> <span word="these">these</span> <span word="interest">interest</span>-<span word="rate">rate</span> <span word="cuts">cuts</span>, <span word="the">the</span> <span word="ECB">ECB</span> <span word="announced">announced</span> <span word="that">that</span> <span word="it">it</span> <span word="would">would</span> <span word="lend">lend</span> <span word="copiously">copiously</span> <span word="tobanks">tobanks</span> <span word="for">for</span> <span word="as">as</span> <span word="long">long</span> <span word="as">as</span> <span word="four">four</span> <span word="years">years</span>, <span word="as">as</span> <span word="long">long</span> <span word="as">as</span> <span word="they">they</span> <span word="pledged">pledged</span> <span word="to">to</span> <span word="improve">improve</span> <span word="their">their</span> <span word="own">own</span> <span word="lendingperformance">lendingperformance</span> <span word="to">to</span> <span word="the">the</span> <span word="private">private</span> <span word="sector">sector</span>. <span word="The">The</span> <span word="plan">plan</span>, <span word="which">which</span> <span word="resembles">resembles</span> <span word="the">the</span> <span word="Bank">Bank</span> <span word="of">of</span> <span word="England">England</span> <span word="sfunding">sfunding</span> <span word="for">for</span> <span word="lending">lending</span> <span word="scheme">scheme</span>, <span word="has">has</span> <span word="some">some</span> <span word="merit">merit</span> <span word="but">but</span> <span word="may">may</span> <span word="not">not</span> <span word="boost">boost</span> <span word="lending">lending</span> <span word="as">as</span> <span word="much">much</span> <span word="asexpected">asexpected</span> <span word="due">due</span> <span word="to">to</span> <span word="the">the</span> <span word="feeble">feeble</span> <span word="state">state</span> <span word="of">of</span> <span word="the">the</span> <span word="banks">banks</span>. <span word="It">It</span> <span word="will">will</span> <span word="also">also</span> <span word="take">take</span> <span word="a">a</span> <span word="long">long</span> <span word="time">time</span> <span word="to">to</span> <span word="work">work</span> <span word="its">its</span> <span word="waythrough">waythrough</span> <span word="the">the</span> <span word="economy">economy</span>. 除了降息之外，<span word="ECB">ECB</span>申明，四年内，只要商业银行保证增加对私有部门的信贷，央行将提供充足的资金。类似英格兰银行的融资换贷款计划，这个计划已经小有成效，但是由于银行本身元气已伤，其促进贷款的效果可能不如设想中的那么好。并且，这几个计划从开始实行到发挥作用需要很长一段时间。 <span word="The">The</span> <span word="ECB">ECB</span> <span word="s">s</span> <span word="critics">critics</span> <span word="say">say</span> <span word="that">that</span> <span word="this">this</span> <span word="is">is</span> <span word="not">not</span> <span word="enough">enough</span> <span word="and">and</span> <span word="urge">urge</span> <span word="the">the</span> <span word="central">central</span> <span word="bank">bank</span> <span word="to">to</span> <span word="introducequantitative">introducequantitative</span> <span word="easingcreating">easingcreating</span> <span word="money">money</span> <span word="to">to</span> <span word="buy">buy</span> <span word="financial">financial</span> <span word="assets">assets</span>. <span word="The">The</span> <span word="ECB">ECB</span> <span word="is">is</span> <span word="likely">likely</span> <span word="to">to</span> <span word="hold">hold</span> <span word="off">off</span>; <span word="itseems">itseems</span> <span word="to">to</span> <span word="consider">consider</span> <span word="QE">QE</span> <span word="as">as</span> <span word="a">a</span> <span word="weapon">weapon</span> <span word="of">of</span> <span word="last">last</span> <span word="resort">resort</span>. <span word="For">For</span> <span word="his">his</span> <span word="part">part</span> <span word="Mario">Mario</span> <span word="Draghi">Draghi</span>, <span word="the">the</span> <span word="centralbank">centralbank</span> <span word="s">s</span> <span word="president">president</span>, <span word="urges">urges</span> <span word="countries">countries</span> <span word="like">like</span> <span word="Italy">Italy</span> <span word="and">and</span> <span word="France">France</span> <span word="to">to</span> <span word="get">get</span> <span word="on">on</span> <span word="with">with</span> <span word="structural">structural</span> <span word="reforms">reforms</span> <span word="thatwould">thatwould</span> <span word="improve">improve</span> <span word="their">their</span> <span word="underlying">underlying</span> <span word="growth">growth</span> <span word="potential">potential</span>. <span word="Patience">Patience</span> <span word="on">on</span> <span word="all">all</span> <span word="sides">sides</span> <span word="is">is</span> <span word="wearing">wearing</span> <span word="thin">thin</span>. 欧洲央行的批评者认为这些措施并不够，并且他们要求央行推出量化宽松政策--创造货币来购买金融资产。<span word="ECB">ECB</span>的态度是尽可能延缓推出<span word="QE">QE</span>，在它看来，<span word="QE">QE</span>是最后的武器。央行行长马里奥德拉吉就此发表了言论，他鼓励意大利、法国等国家继续进行结构化改革以提高其经济增长的潜力。各方人士对欧元区经济复苏都已迫不及待。 词语解释 1.<span word="manage">manage</span> <span word="to">to</span> 设法;达成 <span word="I">I</span> <span word="suppose">suppose</span> <span word="every">every</span> <span word="foreigner">foreigner</span> <span word="would">would</span> <span word="manage">manage</span> <span word="to">to</span> <span word="seeone">seeone</span>. 我想每个外国人都会设法去看看的。 <span word="Those">Those</span> <span word="who">who</span> <span word="manage">manage</span> <span word="to">to</span> <span word="roll">roll</span> <span word="with">with</span> <span word="the">the</span> <span word="punches">punches</span>, <span word="andenjoy">andenjoy</span> <span word="change">change</span> <span word="rather">rather</span> <span word="than">than</span> <span word="fighting">fighting</span> <span word="it">it</span>, <span word="tend">tend</span> <span word="to">to</span> <span word="dowell">dowell</span>. 那些表现良好的人会设法从容应对困难，并享受改变，而不是与它搏斗。 2.<span word="pick">pick</span> <span word="up">up</span> 捡起;获得;收拾 <span word="Where">Where</span> <span word="can">can</span> <span word="you">you</span> <span word="pick">pick</span> <span word="up">up</span> <span word="your">your</span> <span word="suitcase">suitcase</span>? 你在哪里取你的手提箱呢? <span word="With">With</span> <span word="this">this</span> <span word="in">in</span> <span word="mind">mind</span>, <span word="the">the</span> <span word="next">next</span> <span word="time">time</span> <span word="you">you</span> <span word="need">need</span> <span word="a">a</span> <span word="bit">bit</span> <span word="of">of</span> <span word="time">time</span> <span word="to">to</span> <span word="yourself">yourself</span>, <span word="pick">pick</span> <span word="up">up</span> <span word="a">a</span> <span word="book">book</span>. 记住这个方法，下次当你需要一点自我放松的时间时，你则可以挑选一本书来阅读。 3.<span word="thanks">thanks</span> <span word="to">to</span> 由于，幸亏 <span word="He">He</span> <span word="preceded">preceded</span> <span word="his">his</span> <span word="speech">speech</span> <span word="with">with</span> <span word="a">a</span> <span word="vote">vote</span> <span word="of">of</span> <span word="thanks">thanks</span> <span word="to">to</span> <span word="the">the</span> <span word="committee">committee</span>. 他发表讲话前先提议向全体委员表示感谢。 <span word="To">To</span> <span word="be">be</span> <span word="sure">sure</span>, <span word="war">war</span>, <span word="violence">violence</span> <span word="and">and</span> <span word="poverty">poverty</span> <span word="are">are</span> <span word="still">still</span> <span word="with">with</span> <span word="us">us</span> <span word="and">and</span> <span word="we">we</span> <span word="as">as</span> <span word="mankind">mankind</span> <span word="are">are</span> <span word="probablymore">probablymore</span> <span word="aware">aware</span> <span word="of">of</span> <span word="these">these</span> <span word="problems">problems</span> <span word="worldwide">worldwide</span> <span word="than">than</span> <span word="ever">ever</span> <span word="before">before</span> <span word="thanks">thanks</span> <span word="to">to</span> <span word="advances">advances</span> <span word="in">in</span> <span word="technologyand">technologyand</span> <span word="communication">communication</span>. 毫无疑问，战争、暴力以及贫穷仍然伴随着我们，并且，作为人类，由于技术与通信的进步，我们可能比以往任何时候都更深切地意识到了这些问题。</p>
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