Europe Keeps Interest Rate Steady

 The European Central Bank is keeping its key interest rate unchanged, even as its leader says there is "increased downside risk" for economic growth in the euro currency bloc¹.

The bank kept its key lending rate at a record low 1 percent Wednesday, despite some calls from European bankers and financial analysts² for cutting it to spur the continent's stagnant³ economy. The 17-nation eurozone is struggling to resolve its governmental debt crisis, as concern mounts over Spain's financially troubled banks and whether Greece becomes the first country to exit the currency union.

Britain says Prime Minister David Cameron and U.S. President Barack Obama agreed in a telephone call late Tuesday that the eurozone nations need an "immediate⁴ plan" to resolve the crisis, now in its third year, to restore investors⁵' confidence, and then secure a stronger euro.

European Central Bank president Mario Draghi said economic growth "remains⁶ weak" in the eurozone and there is "heightened uncertainty⁷" that weighs on the confidence of businesses and consumers.

"In the governing council's assessment⁸, the economic outlook for the euro area is subject to increased downside risk, relating in particular to a further increase in tensions in several euro area financial markets, and their potential spillover to the euro area real economy," he said.

But Draghi predicted there would be a gradual improvement in the coming months. The bank left its economic growth projection⁹ unchanged, saying that the eurozone economy could advance by up to one-half of one percent this year.

In the meantime, Spain's banking¹⁰ crisis remains unresolved.

Spanish Finance Minister Luis de Guindos said the government would decide within the next two weeks how to finance the $100 billion recapitalization of Spanish banks faced with mounting losses on toxic¹¹ real estate loans. Spain could seek some form of a rescue package from its European neighbors, who already have sent billions of dollars in bailouts to Greece, Portugal and Ireland during the past two years.

Greek voters are headed to a second round of parliamentary elections June 17, after a splintered vote last month left the country's fractious political parties unable to form a new coalition¹² government.

European leaders have called on the Athens government to keep its earlier pledge to impose new austerity measures in exchange for its second bailout in two years. But there is widespread opposition¹³ to the spending cuts within Greece and the election has effectively become a referendum on whether it stays in the eurozone.

1 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。

2 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。

3 stagnant   

adj.不流动的，停滞的，不景气的

参考例句：

• Due to low investment,industrial output has remained stagnant.由于投资少，工业生产一直停滞不前。
• Their national economy is stagnant.他们的国家经济停滞不前。

4 immediate   

adj.立即的；直接的，最接近的；紧靠的

参考例句：

• His immediate neighbours felt it their duty to call.他的近邻认为他们有责任去拜访。
• We declared ourselves for the immediate convocation of the meeting.我们主张立即召开这个会议。

5 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

6 remains   

n.剩余物，残留物；遗体，遗迹

参考例句：

• He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
• The remains of the meal were fed to the dog.残羹剩饭喂狗了。

7 uncertainty   

n.易变，靠不住，不确知，不确定的事物

参考例句：

• Her comments will add to the uncertainty of the situation.她的批评将会使局势更加不稳定。
• After six weeks of uncertainty,the strain was beginning to take its toll.6个星期的忐忑不安后，压力开始产生影响了。

8 assessment   

n.评价；评估；对财产的估价，被估定的金额

参考例句：

• This is a very perceptive assessment of the situation.这是一个对该情况的极富洞察力的评价。
• What is your assessment of the situation?你对时局的看法如何？

9 projection   

n.发射，计划，突出部分

参考例句：

• Projection takes place with a minimum of awareness or conscious control.投射在最少的知觉或意识控制下发生。
• The projection of increases in number of house-holds is correct.对户数增加的推算是正确的。

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 toxic   

adj.有毒的，因中毒引起的

参考例句：

• The factory had accidentally released a quantity of toxic waste into the sea.这家工厂意外泄漏大量有毒废物到海中。
• There is a risk that toxic chemicals might be blasted into the atmosphere.爆炸后有毒化学物质可能会进入大气层。

12 coalition   

n.结合体，同盟，结合，联合

参考例句：

• The several parties formed a coalition.这几个政党组成了政治联盟。
• Coalition forces take great care to avoid civilian casualties.联盟军队竭尽全力避免造成平民伤亡。

13 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。