EU Leaders Pledge New Economic Integration

 　　Key European leaders pledged at a meeting with U.S. President Barack Obama Monday that they will push for closer economic integration¹ of the 17-nation eurozone to help resolve the continent's burgeoning² debt crisis.

　　European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso called for uniform, binding³ controls over government spending in the countries that use the euro currency. Mr. Van Rompuy said a "roadmap" spelling out a new eurozone economic plan would be presented to a European Union summit in early December.

　　Barroso, speaking after a White House summit in Washington with President Obama, said European leaders "are determined⁴ to overcome the current difficulties." Debt-ridden Greece, Ireland and and Portugal have already been forced to secure international bailouts, while Italy, Spain and other countries are facing sharply increased borrowing costs to finance their governments.

　　Mr. Obama said the U.S. is prepared "to do our part" to help Europe solve its debt crisis, which he described as being "of huge importance to our economy." But he did not spell out any specific actions the U.S. might take.

　　A new report says the eurozone's economy is falling into a recession.

　　The Organization for Economic Cooperation and Development said it expects the eurozone economy will shrink by an annualized rate of one percent in the last three months of the year, and by another four-tenths of one percent in the first quarter of 2012. The OECD, a policy forum⁵ for 34 advanced economies, said the European Central Bank needs to intervene decisively to stabilize⁶ the continent's debt crisis.

　　White House spokesman Jay Carney said the European debt crisis has "created a headwind for much of the year" on the sluggish⁷ U.S. economy.  He said the U.S. government believes it is "critical" for European leaders to "move forcefully" to resolve the debt issue and that the eurozone nations have the financial capacity to deal with it.

　　As debt worries in Italy, Spain and elsewhere roil⁸ international financial markets, the continent's economic leaders - Germany and France - are starting to negotiate a new fiscal⁹ agreement that would enforce budget discipline across the eurozone. That is something individual countries have long resisted, as they fear the loss of sovereign control.

　　The effects of the debt crisis have been widespread. Belgium was forced to pay sharply higher interest rates on Monday, while the Italian Banking¹⁰ Association promoted a patriotic¹¹ drive to get Italians to buy government bonds to try to keep interest rates from spiraling out of control.

　　Credit rating agency Moody's warned in a statement Monday that while it believes there will not be widespread defaults in the eurozone, the probability of multiple debt defaults is "no longer negligible."

1 integration   

n.一体化，联合，结合

参考例句：

• We are working to bring about closer political integration in the EU.我们正在努力实现欧盟內部更加紧密的政治一体化。
• This was the greatest event in the annals of European integration.这是欧洲统一史上最重大的事件。

2 burgeoning   

adj.迅速成长的，迅速发展的v.发芽，抽枝( burgeon的现在分词 )；迅速发展；发（芽），抽（枝）

参考例句：

• Our company's business is burgeoning now. 我们公司的业务现在发展很迅速。 来自《简明英汉词典》
• These efforts were insufficient to contain the burgeoning crisis. 这些努力不足以抑制迅速扩散的危机。 来自辞典例句

3 binding   

有约束力的，有效的，应遵守的

参考例句：

• The contract was not signed and has no binding force. 合同没有签署因而没有约束力。
• Both sides have agreed that the arbitration will be binding. 双方都赞同仲裁具有约束力。

4 determined   

adj.坚定的；有决心的

参考例句：

• I have determined on going to Tibet after graduation.我已决定毕业后去西藏。
• He determined to view the rooms behind the office.他决定查看一下办公室后面的房间。

5 forum   

n.论坛，讨论会

参考例句：

• They're holding a forum on new ways of teaching history.他们正在举行历史教学讨论会。
• The organisation would provide a forum where problems could be discussed.这个组织将提供一个可以讨论问题的平台。

6 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。

7 sluggish   

adj.懒惰的，迟钝的，无精打采的

参考例句：

• This humid heat makes you feel rather sluggish.这种湿热的天气使人感到懒洋洋的。
• Circulation is much more sluggish in the feet than in the hands.脚部的循环比手部的循环缓慢得多。

8 roil   

v.搅浑，激怒

参考例句：

• Times of national turmoil generally roil a country's financial markets.在国家动荡不安的时代，该国的金融市场一般都会出现混乱。
• Some of her habits are off-putting but don't let them roil you.她的一些习惯让人恶心，但最好别烦你。

9 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。

10 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

11 patriotic   

adj.爱国的，有爱国心的

参考例句：

• His speech was full of patriotic sentiments.他的演说充满了爱国之情。
• The old man is a patriotic overseas Chinese.这位老人是一位爱国华侨。