VOA标准英语10月-World Leaders Continue Efforts to Stem Financial

European leaders met in Paris Sunday to forge a coordinated¹ effort for confronting the global financial crisis. VOA's Michael Bowman reports from Washington, the gathering² was the latest multi-national effort to contain fallout from a credit crunch³ that has sparked market meltdowns and threatened worldwide economic growth.
　

From left: European Central Bank president Jean-Claude Trichet, French President Nicolas Sarkozy, British PM Gordon Brown, and EU Commission President José Manuel Barroso, in Paris, 12 Oct 2008

While European leaders gathered in France, the World Bank and the International Monetary⁴ Fund continued consultations⁵ in Washington, where G-Seven finance ministers met late last week. Although the meeting generated no concrete, immediate⁶ actions by the world's top industrialized nations, participants pledged close cooperation to rescue distressed⁷ banks, prevent bankruptcies⁸ and assure that credit flows resume.

Recent weeks have seen nations employ more aggressive measures to prop⁹ up financial institutions, ease tight credit, and reassure¹⁰ panicky investors¹¹.

Now, the Bush administration is proposing the federal government invest directly in troubled U.S. banks, which would constitute a partial-nationalization of America's banking¹² sector¹³. Several European countries have already undertaken similar initiatives.

Former Treasury¹⁴ Secretary Lawrence Summers says strengthening the banking system is vital.

"The stock market is merely the sideshow in this circus," said Summers. "It is the banking system that has to be put back together, and it has got to be put back together fast."

Summers was speaking on ABC's This Week program.

Last week saw most major stock markets fall by a record 20 percent or more.

Only concrete, coordinated action by governments around the world can stop the slide, according to the head of the Washington-based Institute for International Economics, Fred Bergsten.

"We are in the midst of a crisis of confidence. The financial markets are near panic. They need reassuring¹⁵ steps from the governments and the central banks," said Bergsten. "The governments and central banks need to take a series of very specific measures to get the credit markets functioning again, to get the banks lending again, to get the economy moving forward again. We need those decisions in the next day or two to get confidence back on track."

Bergsten was speaking on CBS' Face the Nation.

The worldwide credit crunch began in the United States, which has weathered a wave of home foreclosures after a prolonged period of lax lending standards that saw millions of Americans acquire mortgages they could not afford.

In recent weeks, the financial contagion¹⁶ has spread to Europe, Asia, and scores of developing nations.

To combat the problem, the Bush administration has propped¹⁷ up and taken over failing U.S. financial institutions, championed a massive government rescue package, and tried to make it easier for businesses to finance short term needs.

A growing consensus¹⁸ among economists¹⁹ and government officials holds that while individual nations must take steps on their own, only coordinated global efforts can stem the crisis.

1 coordinated   

adj.协调的

参考例句：

• The sound has to be coordinated with the picture. 声音必须和画面协调一致。
• The numerous existing statutes are complicated and poorly coordinated. 目前繁多的法令既十分复杂又缺乏快调。 来自英汉非文学 - 环境法 - 环境法

2 gathering   

n.集会，聚会，聚集

参考例句：

• He called on Mr. White to speak at the gathering.他请怀特先生在集会上讲话。
• He is on the wing gathering material for his novels.他正忙于为他的小说收集资料。

3 crunch   

n.关键时刻；艰难局面；v.发出碎裂声

参考例句：

• If it comes to the crunch they'll support us.关键时刻他们是会支持我们的。
• People who crunch nuts at the movies can be very annoying.看电影时嘎吱作声地嚼干果的人会使人十分讨厌。

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 consultations   

n.磋商（会议）( consultation的名词复数 )；商讨会；协商会；查找

参考例句：

• Consultations can be arranged at other times by appointment. 磋商可以通过预约安排在其他时间。 来自《现代汉英综合大词典》
• Consultations are under way. 正在进行磋商。 来自《现代汉英综合大词典》

6 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。

7 distressed   

痛苦的

参考例句：

• He was too distressed and confused to answer their questions. 他非常苦恼而困惑，无法回答他们的问题。
• The news of his death distressed us greatly. 他逝世的消息使我们极为悲痛。

8 bankruptcies   

n.破产( bankruptcy的名词复数 )；倒闭；彻底失败；（名誉等的）完全丧失

参考例句：

• It's a matter of record that there were ten bankruptcies in the town last year. 去年这个城市有十家破产是事实。 来自《简明英汉词典》
• Business bankruptcies rose 50 percent over the previous year. 破产企业的数量比前一年增加５０％。 来自英汉非文学 - 政府文件

9 prop   

vt.支撑；n.支柱，支撑物；支持者，靠山

参考例句：

• A worker put a prop against the wall of the tunnel to keep it from falling.一名工人用东西支撑住隧道壁好使它不会倒塌。
• The government does not intend to prop up declining industries.政府无意扶持不景气的企业。

10 reassure   

v.使放心，使消除疑虑

参考例句：

• This seemed to reassure him and he continued more confidently.这似乎使他放心一点，于是他更有信心地继续说了下去。
• The airline tried to reassure the customers that the planes were safe.航空公司尽力让乘客相信飞机是安全的。

11 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

12 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。

13 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。

14 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

15 reassuring   

a.使人消除恐惧和疑虑的，使人放心的

参考例句：

• He gave her a reassuring pat on the shoulder. 他轻拍了一下她的肩膀让她放心。
• With a reassuring pat on her arm, he left. 他鼓励地拍了拍她的手臂就离开了。

16 contagion   

n.(通过接触的疾病)传染；蔓延

参考例句：

• A contagion of fear swept through the crowd.一种恐惧感在人群中迅速蔓延开。
• The product contagion effect has numerous implications for marketing managers and retailers.产品传染效应对市场营销管理者和零售商都有很多的启示。

17 propped   

支撑，支持，维持( prop的过去式和过去分词 )

参考例句：

• He sat propped up in the bed by pillows. 他靠着枕头坐在床上。
• This fence should be propped up. 这栅栏该用东西支一支。

18 consensus   

n.(意见等的)一致，一致同意，共识

参考例句：

• Can we reach a consensus on this issue?我们能在这个问题上取得一致意见吗？
• What is the consensus of opinion at the afternoon meeting?下午会议上一致的意见是什么？

19 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》