20110519 Follow Me 9

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我已经开始记不清次数了...
public debt relative to economic output:国家债务占经济产出比例

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Schroeder’s comments may jibe with a change that’s emerging in Europe’s crisis-fighting strategy, as finance ministers in Brussels indicated they may shift some costs to bondholders in a “soft restructuring” of Greek debt.

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vested interests 既得利益集团、特权阶级
Sovereign debt is an economic phenomenon with growing importance in world economy. More and more developed economies have been faced with overdebt.When UNCTAD pays much attention to sovereign debt, which is usually referrig to foreign debt developing countries owe, foreign debt owed by developed countries also need a watchful eye.

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go on
continuing

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呵呵，补上昨天的~

默克尔的前任施罗德说，她领导的希腊球迷赤字危机[英汉对照]

德国总理默克尔并没有导致在欧洲的债务危机，现在必须超越德国公众舆论更多的国家提供帮助陷入困境的欧元区，前总理格哈德施罗德说。

Merkel acted too slowly when the crisis unfolded last year, pandering to the “yellow press,” Schroeder said in an interview.默克尔担任过慢，当危机展开去年，迎合“黄色新闻”，施罗德在接受采访时说。 Schroeder said the chancellor, who defeated him in 2005, should press for banks and other bondholders to take losses and give euro countries more time to cut budget deficits.施罗德总理说，谁在2005年击败他，应按银行和其他债券持有人承担损失，给欧元区国家更多的时间来削减预算赤字。

Schroeder's comments may jibe with a change that's emerging in Europe's crisis-fighting strategy, as finance ministers in Brussels indicated they may shift some costs to bondholders in a “soft restructuring” of Greek debt.施罗德的言论可能会嘲弄一个变化，在欧洲的危机打击的新兴战略，作为财长在布鲁塞尔表示，他们可能会转变“软重组”希腊向债券持有人债务一些费用。 Merkel, as the leader of Europe 's largest economy, holds the key to Greece's chances of escaping a restructuring.默克尔，作为领导欧洲最大经济体，拥有关键的重组，以逃避希腊的机会。

“There's a lack of leadership right now,” Schroeder said at his legal practice in the western German city of Hanover yesterday. “有一个缺乏领导，现在，”施罗德说，他在德国西部城市汉诺威昨天的法律实践。 Germany's policy has been “too hesitant,” he said.德国的政策一向是“过于犹豫，”他说。 “Someone has to say 'that's enough' more often.” “有人说'这就够了，更多的时候。”

Schroeder, 67, the Social Democratic chancellor who ruled for two terms as the head of a coalition with the Greens, oversaw the debut of the euro in Germany on Jan. 1, 1999, less than three months after he came to power.施罗德67岁，社民党总理谁两个作为一个与绿党联盟的领袖条款作出裁决，监督对1999年1月1日，不到3个月后，他上台后的首次亮相在德国欧元。 During his election campaign in 1998, he compared the euro to a “premature birth,” a judgment he now says was wrong.在他1998年竞选中，他比较了欧元的“早产”判决，他现在说是错误的。

'Complete Nonsense' '废话'
The euro has been a boon for Germany and is worth defending, he said.欧元一直是皇家德国 ，值得捍卫，他说。 All talk of countries leaving the currency union is “complete nonsense,” said Schroeder, who no longer holds elected office and is chairman of Nord Stream AG, a 7.4 billion-euro ($10.5 billion) Russian-controlled Baltic Sea gas pipeline that's being built from Vyborg, Russia , to Lubmin in Germany.所有离开货币联盟国家的谈话是“完全是一派胡言，说：”施罗德，谁不再持有选举的职务，是北溪股份公司董事长，7.4亿欧元（1,050亿美元），俄罗斯控制的波罗的海天然气管道的修建从维堡， 俄罗斯 ，德国以Lubmin。

To end the debt crisis that forced Greece, Ireland and Portugal to seek outside aid, so-called haircuts involving compulsory losses for banks and other investors including the European Central Bank are “absolutely essential,” however uncomfortable they may be for vested interests, Schroeder said.要结束的债务危机，迫使希腊，爱尔兰和葡萄牙寻求外援，所谓的理发，涉及包括强制性的损失，银行和其他投资者欧洲中央银行是“绝对必要的，”但不舒服，他们可能是既得利益，施罗德说。

“In the long run, the government can't justify aid programs to their voters unless they force creditors that have made a lot of money on the enormous interest rates for Greece and the others to share the cost,” he said. “长远而言，**不能证明他们的选民的援助方案，以巨大的力量，除非他们有债权人的钱做了很多的利率为希腊和其他人共享的成本，“他说。 “That risk is already priced in.” “这已经是风险定价英寸”

Merkel has repeatedly said her refusal to be rushed into aiding Greece last year was needed to force the Greek government to cut its budget deficit .默克尔说，她曾多次拒绝将其冲入援助希腊去年是需要迫使希腊**削减预算赤字 。 Greece has the euro area's biggest public debt relative to economic output.希腊已经欧元区最大的公共债务相对于经济产出。 Greece's debt will balloon to 157.7 percent of gross domestic product in 2011.希腊的债务将膨胀到157.7国内生产总值的百分之于2011年。

'Better Job' '更好的工作，
Schroeder contrasted Merkel's position with that of her finance minister, Wolfgang Schaeuble , who he said had called for “solidarity” with debt-laded countries early on.默克尔施罗德对比的，位置部长与财务，她的沃尔夫冈朔伊布勒 ，他的话对谁呼吁“团结”与债务laded国家早。 “He's actually doing a better job,” Schroeder said. “他实际上做一个更好的工作，”施罗德说。

Former German Chancellor Helmut Kohl, a Christian Democrat like Merkel, said on May 16 that the European Union must stand by Greece as it goes through a difficult period.德国前总理科尔，一个基督教民主党像默克尔说，5月16日，欧洲联盟必须由独立希腊 ，因为它经历了一个艰难的时期。

“We are going forward with the Greeks,” Kohl said in a speech in Berlin that was attended by Merkel. “我们将与希腊人提出，”科尔说，在柏林演讲，是由默克尔出席了会议。 “Those who say today that we have to break everything down and start from scratch are wrong.” Kohl, who served as chancellor from 1982 to 1998, was German leader when the treaty creating the euro was negotiated. “谁今天说，我们必须打破下来，一切从头开始就错了。”科尔，谁是1982年至1998年总理担任，是德国领导人时，条约的谈判创造了欧元。

Schroeder criticized the “very unhelpful” warnings by lawmakers in Merkel's coalition that they might reject the permanent rescue fund for indebted euro members.施罗德在默克尔批评的联盟国会议员，他们可能拒绝欧元区成员国的债永久性救助基金“非常无益”的警告。 For all the misgivings over the post-2013 European Stability Mechanism, Schroeder predicted that lawmakers will back down and pass the ESM after the summer recess.对于所有在后- 2013欧洲稳定机制的疑虑，施罗德预计，国会议员将回落，并通过在夏季休会后，无害环境管理。

Don't Spook Markets不要斯普克市场
Speaking to high-school students in Berlin yesterday, Merkel said that restructuring the debt of euro-area countries before the ESM rules take effect risks spooking financial markets.谈到在柏林高中学生昨天，默克尔说，重组前的ES​​M规则对欧元区国家的债务风险spooking生效的金融市场。 Changing the rules of the current bailouts would “create incredible doubt about our credibility as governments” and undermine sovereign-bond markets, she said.改变目前的援助行动的规则将“创造我们的信誉，因为**难以置信的怀疑”，破坏主权债券市场，她说。

Schroeder echoed the government line that solidarity “cannot be a one-way street,” with aid recipients compelled to reduce their bloated budget deficits.施罗德呼应了**的路线，团结“不能被一个单向街”与被迫减少其预算赤字膨胀的受援者。 At the same time, he said that “weaker economies” need time to cut debt.与此同时，他说，“较弱的经济体”需要时间来削减债务。

“You can't kill them by forcing them to make so many savings that the economy can't grow anymore,” he said. “你不能杀，迫使他们作出如此多的储蓄，经济不能增长了他们，”他说。 “Greece can't turn around decades of undisciplined policy in a few months.” “希腊不能扭转在几个月毫无纪律的政策几十年。”

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第三次了，加油！！！！！

真不错，以前不知道，这是第一次，呵呵……