EU Throws a Lifeline to Troubled Spanish Banks

 PARIS — Markets were up slightly Tuesday, after European Union finance ministers threw a lifeline to troubled Spanish banks by agreeing to the terms of a bailout.  The ministers are back in Brussels later this month to finalize¹ the deal.

Spanish banks are expected to get a first installment² of aid, worth nearly $37 billion, by the end of the month. At an early Tuesday news conference Luxembourg Prime Minister Jean-Claude Juncker, who heads the eurogroup of finance ministers, said more aid will follow later in the year.

But Juncker said the money comes with a catch - Spanish banks must meet certain conditions and overall supervision³ of Spain's financial sector⁴ must be strengthened.

"We are convinced that this conditionality⁵ will succeed in addressing the remaining weakness in the Spanish banking⁶ sector," he said.

The finance ministers also gave Spain a one-year extension to meet the eurozone's three percent budget deficit⁷ limit. Madrid now has until 2014 to meet that target.

"This was based on the positive assessment⁸ by the [EU] Commission on effective action taken and the significantly worsening situation in Spain and its impact on the budgetary situation," Juncker said.  "We expect Spain to take all necessary measures to meet the new 2014 deadline."After Greece, Portugal and Ireland, Spain is now the biggest worry for the 17-nation eurozone. Besides its banking problems, the eurozone's fourth largest economy is struggling with high unemployment and a recession.

Spanish Economy Minister Luis de Guindos was upbeat about the decisions reached for his country. He called the agreement positive for Spain's financial system. And he said Spain must fulfill⁹ the three percent budget deficit target by the 2014 deadline.

The two-day finance meeting began with ministers from just the euro currency nations before expanding to include all 27 European Union ministers on Tuesday. They are tasked to fill in the blanks of  decisions EU leaders made last month to tackle the eurozone crisis and strengthen the economic union.

New measures include creating a banking union and giving the European Central Bank a supervisory role over euro-area banks.

On another troubled economy - Greece - the finance ministers have decided¹⁰ to wait for the conclusions of international debt inspectors¹¹ before responding to a request by Athens to renegotiate its bailout agreements.

The ministers also appointed Juncker for another term as euro group leader, although he says he will step down early.

1 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。

2 installment   

n.(instalment)分期付款；(连载的)一期

参考例句：

• I shall soon pay the last installment of my debt.不久我将偿付我的最后一期债款。
• He likes to buy things on the installment plan.他喜欢用分期付款法购买货物。

3 supervision   

n.监督，管理

参考例句：

• The work was done under my supervision.这项工作是在我的监督之下完成的。
• The old man's will was executed under the personal supervision of the lawyer.老人的遗嘱是在律师的亲自监督下执行的。

4 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

5 conditionality   

n.受限制性，制约性

参考例句：

• We have the same value plus half the upside, with no conditionality. 我们获得了相同价值，外加一半的上行机会，而且没有条件限制。 来自互联网
• Gate conditionality does not mitigate the adverse effect of gate review criteria. 关卡制约性不会减少关卡评价标准的反作用。 来自互联网

6 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。

7 deficit   

n.亏空，亏损；赤字，逆差

参考例句：

• The directors have reported a deficit of 2.5 million dollars.董事们报告赤字为250万美元。
• We have a great deficit this year.我们今年有很大亏损。

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 fulfill   

vt.履行，实现，完成；满足，使满意

参考例句：

• If you make a promise you should fulfill it.如果你许诺了，你就要履行你的诺言。
• This company should be able to fulfill our requirements.这家公司应该能够满足我们的要求。

10 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

11 inspectors   

n.检查员( inspector的名词复数 )；（英国公共汽车或火车上的）查票员；（警察）巡官；检阅官

参考例句：

• They got into the school in the guise of inspectors. 他们假装成视察员进了学校。 来自《简明英汉词典》
• Inspectors checked that there was adequate ventilation. 检查员已检查过，通风良好。 来自《简明英汉词典》