VOA标准英语10月-European Markets Edge Slightly Higher in Nervous,

European markets are reacting nervously¹ again as the banking² crisis continues to worry many. For VOA, Tom Rivers reports from London.

While financial jitters³ were felt right across Europe Tuesday, European stocks generally posted moderate gains on hopes that central banks will cut interest rates soon.

Also improving the mood slightly, a decision by European Union finance ministers to guarantee bank deposits up to $68,000.

But for the second day in a row, banking stocks in particular faced a rough ride.
　

A Royal Bank of Scotland branch in central London, 07 Oct 2007

In Britain, the Royal Bank of Scotland shed around 40 percent of its value at one stage. At issue were questions over the institution's liquidity⁴ and solvency⁵.

Britain is typical of European countries facing a tough financial storm. Mark Saunders, the chief U.K. economist⁶ at Citigroup says the effects of the problem will take time to resolve and it will require a multiple approach.

"Getting out of this is going to be a mix of pain in the financial sector⁷ but also a lot of pain in the real economy," he said. "That is why the measures to get us out, it is not just any one single thing. It a mix of public sector recapitalization of the banks, emergency liquidity support for the banks and lower interest rates for the economy."

In Iceland, the board of directors of Landsbanki, the country's second largest bank, has been dismissed and the institution placed into receivership. The country is also negotiating a $5.4 billion loan from Russia to shore up the nation's finances as it faces a severe financial crisis.

John Danielson from the London School of Economics says the country is facing the toughest financial strains seen in generations.

"Iceland is clearly facing the worst depression since the Great Depression and things are absolutely catastrophic in Iceland," he said. "With the failures due partly on the banking system, it more due to the fact that consumers and companies borrowed in foreign currencies to finance car loans and houses. When the currency drops 50 percent, people are finding themselves 50, 60, 70 percent in negative equity⁸."

Elsewhere, Russia announced an aid package for its own banks amounting to $36.4 billion of new credit. The move has come after Russian stocks suffered their worst pounding ever in trading on Monday.

1 nervously   

adv.神情激动地，不安地

参考例句：

• He bit his lip nervously,trying not to cry.他紧张地咬着唇，努力忍着不哭出来。
• He paced nervously up and down on the platform.他在站台上情绪不安地走来走去。

2 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。

3 jitters   

n.pl.紧张(通常前面要有the)

参考例句：

• I always get the jitters before exams. 我考试前总是很紧张。
• The whole city had the jitters from the bombing. 全城居民都为轰炸而心神不宁。

4 liquidity   

n.流动性，偿债能力，流动资产

参考例句：

• The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
• The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。

5 solvency   

n.偿付能力，溶解力

参考例句：

• Fears about the solvency of the banks precipitated the great economic crash.对银行偿付能力出现恐慌更加速了经济的崩溃。
• Their targets,including profitability ratios,solvency ratios,asset management ratios.其指标包括盈利比率、偿债能力比率、资产管理比率。

6 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

7 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。

8 equity   

n.公正，公平，（无固定利息的）股票

参考例句：

• They shared the work of the house with equity.他们公平地分担家务。
• To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。