Greek Leader Warns of 'Uncontrolled Default'

 　　Greek Prime Minister Lucas Papademos says his country faces an "uncontrolled default" unless worker unions and employers can agree on wage cuts to boost Greece's economic competitiveness.

　　The interim¹ Greek leader met with labor² leaders and business representatives Wednesday, warning them that international creditors³ will not approve a new $169 billion bailout for Greece unless significant wage and financial bonus reforms are imposed.

　　But one labor chief rejected any wage reductions for Greek workers.

　　Yannis Panagopoulos, president of the General Confederation of Greek Workers, said his members "are not willing to take a single step back" in the face of any wage-reduction demands.

　　The European Union, the International Monetary⁴ Fund (IMF) and the European Central Bank have asked the Greek government to change the country's wage agreements as a way to boost its competitiveness with other countries in the 17-nation bloc⁵ that uses the euro currency.  Until now, Greece has rejected the request, fearing that it would worsen the country's economic conditions and force more layoffs⁶ of workers.

　　A new private survey showed that business activity in the eurozone contracted in December for the fourth consecutive⁷ month, the latest sign that Europe is falling into recession.

　　Markit Economics said its index of manufacturing and service industries rose slightly last month, but still remained below the mark that would indicate economic growth.  Europe's economic fortunes have been weighed down by the continent's governmental debt crisis and imposition of austerity spending plans that has curtailed⁸ growth.  Greece, Ireland and Portugal have already been forced to secure bailouts and now Greece is trying to finalize⁹ details on its second package.

　　Analysts¹⁰ said the slowdown in the eurozone's economy could force the European Central Bank to reduce its already record-low one percent benchmark interest rate to spur economic growth.  Worries about inflation in the eurozone have eased, with the annualized rate falling in December to 2.8 percent, down from three percent the month before.

1 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。

2 labor   

n.劳动，努力，工作，劳工；分娩；vi.劳动，努力，苦干；vt.详细分析；麻烦

参考例句：

• We are never late in satisfying him for his labor.我们从不延误付给他劳动报酬。
• He was completely spent after two weeks of hard labor.艰苦劳动两周后，他已经疲惫不堪了。

3 creditors   

n.债权人，债主( creditor的名词复数 )

参考例句：

• They agreed to repay their creditors over a period of three years. 他们同意3年内向债主还清欠款。 来自《简明英汉词典》
• Creditors could obtain a writ for the arrest of their debtors. 债权人可以获得逮捕债务人的令状。 来自《简明英汉词典》

4 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。

5 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。

6 layoffs   

临时解雇( layoff的名词复数 )； 停工，停止活动

参考例句：

• Textile companies announced 2000 fresh layoffs last week. 各纺织公司上周宣布再次裁员两千人。
• Stock prices broke when the firm suddenly announced layoffs. 当公司突然宣布裁员时，股票价格便大跌

7 consecutive   

adj.连续的，联贯的，始终一贯的

参考例句：

• It has rained for four consecutive days.已连续下了四天雨。
• The policy of our Party is consecutive.我党的政策始终如一。

8 curtailed   

v.截断，缩短( curtail的过去式和过去分词 )

参考例句：

• Spending on books has been severely curtailed. 购书开支已被大大削减。
• Their public health programme had to be severely curtailed. 他们的公共卫生计划不得不大大收缩。 来自《简明英汉词典》

9 finalize   

v.落实，定下来

参考例句：

• Let us finalize tonight.让我们今天晚上干完
• 。At the same time,industrial designers work with engineers to finalize components and assembly.同时，工业设计师和工程师一道来完成部件和组装部分的工作。

10 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。