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(单词翻译:双击或拖选)
The Greek government sent a package of reform proposals on Thursday to its euro zone creditors1 to avert2 bankruptcy3.
Athens is now proposing a new set of tax hikes, pension cuts and economic reforms in exchange of a 53.2-billion-euro third bailout program through the European Stability Mechanism4 over the next three years.
The Greek parliament voted overwhelmingly on Saturday in favour of authorizing5 the government of Prime Minister Alexis Tsipras to negotiate with international creditors with the package.
The bill was passed by the plenum with 251 votes in favor and 32 against.
The latest reforms package is strikingly similar to the terms Greece had rejected in a referendum Tsipras had called in June.
Head of the Cologne Institute for Economic Research, Michael Hueter, said although he was skeptical6 about Greece's ability to enact7 all of the reforms, the Greek government's public support made the situation easier.
"The experience of the last five years is not very favorable for the assumption that they will [be] successful in succeeding all these, solvings of problems they have, but I think it's the first time that they have a government in Greece who have a big support from the public, impressive support in the parliament, so they are able to solve these problems more creatively and more... Straight to the target rather than the previous governments."
He added that he was optimistic that contagion8 in the euro zone could be avoided.
"I am very optimistic that we can avoid this because all the other crisis countries -- Portugal, Italy, Spain and Ireland -- had a very different situation and had a different experience from the last five years (of economic crisis). From the crisis management they were able to go ahead in the restructuring the economy and restructuring the public budgets. So we have a different situation than in spring 2010. There is an isolated9 problem of Greece and there is a more stable euro zone of the rest, so I am optimistic that we will be able to manage this problem."
Finance ministers of the 19-nation euro area will meet to decide whether to recommend opening negotiations10 despite exasperation11 at the five-year-old Greek crisis.
A senior EU official said the meeting would include discussions on whether Greece needs more debt relief.
Noah Barkin. Reuters Bureau Chief for Germany said the topic is one of the key issues to reach a deal.
"Yes, well, one of the big stumbling blocks has been Greek demands for debt relief. They are supported by the International Monetary12 Fund (IMF) which says that Greece cannot return to sustainable debt levels without significant debt relief. What we'll probably see is instead of a sort of classic haircut, which means writing down the face value of the debt, the principle, we are going to see a stretching out of maturities13 of Greek debt if there is a deal."
Greek banks have been closed since June 29, when capital controls were imposed and cash withdrawals14 rationed15 after the collapse16 of previous bailout talks.
Greece defaulted on an IMF loan repayment17 the following day and now faces a critical July 20 bond redemption to the ECB of 3.49 billion euros, which it cannot make without aid.
For CRI, I'm Guo Yan.
1 creditors | |
n.债权人,债主( creditor的名词复数 ) | |
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2 avert | |
v.防止,避免;转移(目光、注意力等) | |
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3 bankruptcy | |
n.破产;无偿付能力 | |
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4 mechanism | |
n.机械装置;机构,结构 | |
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5 authorizing | |
授权,批准,委托( authorize的现在分词 ) | |
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6 skeptical | |
adj.怀疑的,多疑的 | |
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7 enact | |
vt.制定(法律);上演,扮演 | |
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8 contagion | |
n.(通过接触的疾病)传染;蔓延 | |
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9 isolated | |
adj.与世隔绝的 | |
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10 negotiations | |
协商( negotiation的名词复数 ); 谈判; 完成(难事); 通过 | |
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11 exasperation | |
n.愤慨 | |
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12 monetary | |
adj.货币的,钱的;通货的;金融的;财政的 | |
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13 maturities | |
n.成熟(maturity的复数形式) | |
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14 withdrawals | |
n.收回,取回,撤回( withdrawal的名词复数 );撤退,撤走;收回[取回,撤回,撤退,撤走]的实例;推出(组织),提走(存款),戒除毒瘾,对说过的话收回,孤僻 | |
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15 rationed | |
限量供应,配给供应( ration的过去式和过去分词 ) | |
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16 collapse | |
vi.累倒;昏倒;倒塌;塌陷 | |
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17 repayment | |
n.偿还,偿还款;报酬 | |
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