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【Pressure in Europe Builds for Banking Reform】
TEXT:This is the VOA Special English Economics Report.
這里是美國之音慢速英語經濟報道。
Pressure for financial reform is building in Europe. This week the financial services company Moody’s Investors Service reduced Spain’s credit rating. The rating was cut from A3 to baa3. That means that Moody’s judges the credit risk of Spanish debt has moved from very low to moderate.
歐洲金融改革的壓力在增加，本周金融公司穆迪投資者服務公司降低了西班牙的信用評級。從A3降低到baa3，這意味著穆迪認為西班牙的信用風險從極低變為中等。
The company said it acted because Spain is borrowing about one hundred twenty-five billion dollars in rescue loans for its banks.
該公司說，之所以如此，是因為西班牙為其銀行借入了近1250億美元的援助貸款。
Debt markets punished Spain by pushing up the interest rate on its long-term debt to about six point eight percent. That increases Spain’s borrowing costs and hurts its already troubled economy. Spain was not the only country to get downgraded by Moody’s. Cyprus got the same treatment.
債務市場對西班牙的懲罰，是將其長期債務的利率提高到約6.8%，這就增加了西班牙的借貸成本，影響已經處于困境的經濟。西班牙不是被穆迪降級的唯一國家，塞浦路斯也受到同樣對待。
On Wednesday, American Treasury Secretary Tim Geithner spoke at the Council on Foreign Relations in Washington. He said the increase in borrowing costs for European countries like Spain means European officials must move quickly to avoid growing costs.
周三，美國財長蓋特納在華盛頓外交關系委員會上發表講話。他說，西班牙等歐洲國家借貸成本的增加，意味著歐洲官員必須快速行動起來避免成本繼續增加。
TIM GEITHNER: “If you wait to move in these things and you let the market get ahead of you, then you increase the costs of the solution and you make it harder to get there--you get too much momentum—it’s very costly. Once you decide, there’s no argument for doing it slowly.”
蓋特納：“如果只是等待，那么市場就會搶先一步，那么就增加了解決問題的成本，解決就更難了，成本增加的勢頭就更強。一旦下定決心，就沒有放慢之說。”
Germany, Europe’s largest economy, has been pushing for economic reform in the seventeen countries using the euro. But German Chancellor Angela Merkel has argued that her country is unwilling to put money at risk unless banking reform is enacted throughout the Eurozone. She warned this week that Germany’s economic power was not unlimited.
作為歐洲最大經濟體的德國一直推動17個歐元使用國進行經濟改革，但德國總理默克爾說，德國不愿把資金置于風險中，除非在整個歐元區進行銀行改革。本周她警告說，德國的經濟實力并非無限的。
Earlier this month, the European Commission proposed steps toward a common banking policy. The proposals include empowering nations to intervene when their banks are in trouble. But proposed changes may also bar support for failing banks.
本月初，歐洲委員會就建立共同的銀行政策提出了系列步驟，提議包括，當銀行陷入困境時，給予這些國家以干涉的權力。但還提議禁止向瀕臨破產的銀行提供援助。
Some European leaders are pressing for an expanded European bailout fund. Germany has resisted providing new financial resources. But details of any deal with big European economies have yet to be decided.
一些歐洲領導人要求擴大歐洲援助基金，德國反對提供新的財政資源。但與歐洲大經濟體的協議的細節尚未確定。
Europe’s financial crisis is likely to be the main issue at the G-20 economic meeting in Mexico next week. Secretary Geithner is looking forward to the conference.
歐洲財政危機可能是下周墨西哥G20經濟會議的主要議題，財長蓋特納將出席會議。
TIMOTHY GEITHNER: “you know, the world is waiting for them, they have a -- they have a big incentive to add as much clarity to those plans as early as they can.”
蓋特納：“要知道，全世界正期待著，他們希望盡早使這些計劃有明確的動機。”
