[Follow Me]20120427 Follow Me 351 Banks are on a eurozone knife-edge

ljwyz 发表于 2012-4-27 03:04
People might be confused with any article into Europe Crisis, as the one above from Financial Times. ...

很好,今晚的Follow可以由您来发吗?

We want to get away from them. But “developments in the euro area remain the key risk to global financial stability. Recent important policy steps have brought some much-needed relief to financial markets, as sovereign spreads[1] have eased, bank funding markets have reopened, and equity prices have rebounded.
我们想要远离它.但是欧元区的经济发展仍然是全球金融稳定的重要隐患.最近一系列的重要的举措给金融市场带来了一些转机,比如欠债问题已经缓解,银行融资市场已经重新开放,股票价格也开始反弹
However, new setbacks could still occur. The path ahead has significant risks, and policies need to be further strengthened to secure and entrench financial stability.” Thus did the International Monetary Fund’s Global Financial Stability Report assess progress towards what it calls, optimistically, a “quest for lasting stability”. Many would settle for[2] something far less ambitious: a few years of stability would be an unexpected delight.
然而，仍有会遭受到新的挫折。前方的道路有重大风险，需要进一步的政策来加强安全,维护金融市场稳定。”因此，就像国际货币基金组织的全球金融稳定报告评估进展所乐观指出的，“寻求持久的稳定”。许多人会接受现实,不再那么雄心勃勃：持续几年的稳定将带来意想不到的喜悦。
The latest World Economic Outlook, also released last week, offers sensible recommendations: “it is critical to break the adverse feedback loops between subpar growth, deteriorating fiscal positions, increasing recapitalisation needs, and deleveraging[3]. The European Central Bank should implement additional monetary easing to ensure that inflation develops in line with its target over the medium term and guard against deflation risks, thereby also facilitating[4] much-needed adjustments in competitiveness. Moreover, banking authorities should work together to monitor and limit deleveraging of their banks at home and abroad.”
上周公布的最新的世界经济展望也提供了合理的建议：“关键是扭转经济的持续低速增长，财政的不断恶化，增加与注资需求和去杠杆化不断上升之间的恶性反馈循环”.欧洲中央银行应该实施进一步的宽松的货币政策，确保通胀水平符合其中期目标,并且防止通货紧缩的风险，从而也减轻在竞争中需求量的巨大的调整.于此同时,银行机构应该共同监督和限制国内外去杠杆化的银行。”

Let us summarise. First, it is still easy to identify risks, not least[5] the state of the banks, particularly given their close relationship with fragile sovereigns. Second, growth is too slow and ECB monetary policy too tight. Finally, inflation needs to rise in the more competitive countries, to facilitate adjustment among member countries. If the IMF is called to offer assistance to member countries out of the additional resources it has acquired, its conditionality for the eurozone needs to match these arguments. It is not enough to beat up weak countries. The policy regime[6] itself needs to change.
让我们来总结一下.首先,识别风险仍然很容易,尤其是联邦银行,特别是考虑到他与软弱的首脑之间密切的联系.其次,增长十分缓慢,欧洲央行的货币政策也过紧.最后,物价上涨需要在竞争力更强的国家,以促进成员国之间的调整.如果国际货币基金组织被要求提供给其它协助的成员国所需要的额外资源,对于欧元区的需求满足以上说法是有条件的.这不足以对处于低迷状态的国家造成打击..政策体制本身需要改变.
Yet, perhaps the most important point to have emerged is that the crisis is subject to growing political risks[7]. The fall of the Dutch government and the victory of François Hollande in the first round of the French presidential election demonstrate this point. The street might overwhelm the establishment. The fear of just this might cause yet another self-fulfilling prophecy of crisis[8]. Even France might be dragged in. Then the game might be up.
然而,已经显示出来的最重要的一点是危机受到越来越多的政治风险.荷兰ZF的倒台和法国大选首轮中弗朗索瓦•奥朗德取得优势就证明了这一点.

mu_lianzheng 发表于 2012-4-27 12:23
We want to get away from them. But “developments in the euro area remain the key risk to global fin ...

Always admire your excellent translation! Can you please recommend some translation tips?

小小黑马 发表于 2012-4-27 12:36
Always admire your excellent translation! Can you please recommend some translation tips?

no translation tips, just translate by my experience

Confidence or trust is the most important in banks, and firewalls and regulation indicators can enhance this and prevent extreme situations. Do not know if some small banks in China will face severe problems in the following 2-3 years.

桶桶nancy 发表于 2012-4-27 09:02
Thanks for your sharing, the topic is meaningful, wonderful,  With Practical Significance, i got a l ...

Thank you for your eulogizing. I'll keep learning. I've got a lot from your articles too. By the way, I really love your signature, which says that one should either travel or read, because either one's body or soul must be on the way. We are both here to keep ourselves on the way.

I agree with your idea that the European mode of development should be responsible for the EU debt crisis. This kind of crisis is affecting more and more countries as now the world financial system is far more connected than ever. It's critical to find a way to change such improper model to a sustainable one from all aspects, including the fiscal policy, supervision, regulation and coooeration.

mu_lianzheng 发表于 2012-4-27 12:49
no translation tips, just translate by my experience

Professional standards! OK, then what I can do is just to keep learning from you and exercising. Thank you so much.

好长时间没看英文了 都不认识了

shencaijia 发表于 2012-4-27 11:46
These days,our prime minster Wen JiaBao visit Central and Eastern European and vowed double trade in ...

您好,提示一下,标点符号和下一个英语单词之间一定要空一个字符

Nice article.