欧债危机后的欧盟发展【英文】

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欧债危机名词解释

欧债危机名词解释欧洲债务危机(European Debt Crisis欧洲债务危机(European Debt Crisis，简称“欧债危机”)是指欧洲主权债务危机，主要是指希腊、爱尔兰、葡萄牙、西班牙和意大利等国家的债务危机，严重者甚至危及整个欧元区。

自2009年7月始，以希腊为首的欧洲债务危机迅速恶化。

2009年10月，欧盟向希腊发放近6000亿欧元救助贷款，但2010年3月，欧洲中央银行就警告希腊，如果不能改革金融市场和采取紧缩措施，将很难获得进一步的资金支持。

同时，西班牙、葡萄牙和意大利也纷纷效仿希腊，推出了规模巨大的经济改革方案，以赢得更多援助资金。

但与此同时，其他成员国却未能出台类似的经济刺激计划，导致危机进一步恶化。

2010年5月，希腊再次提高借款利率，令该国经济前景雪上加霜。

同月，希腊政府决定向国际货币基金组织寻求约5000亿欧元的援助。

在美国的压力下，国际货币基金组织于6月同意向希腊提供总额5600亿欧元的紧急贷款，并随即开始讨论下一步援助计划。

这样，国际货币基金组织向希腊提供的总额度约1万亿欧元的援助资金正式生效。

然而，国际货币基金组织的救助行动对于解决希腊问题显然是杯水车薪。

7月23日，欧盟领导人最终宣布，将对希腊实施更为严厉的制裁，这直接引爆了欧元区的信任危机。

8月3日，德国总理默克尔表示，已准备好进一步实施财政紧缩措施。

11月30日，爱尔兰方面传来噩耗：该国主权信用评级被国际评级机构穆迪下调至投机垃圾级。

一系列的连锁反应开始显现： 10月26日，西班牙股市出现跳水； 10月28日，葡萄牙比塞塔失守10%； 11月2日，意大利银行业恐慌情绪蔓延； 11月4日，希腊股市创出历史新低，国际货币基金组织随后宣布对希腊实施为期三个月的紧急援助，涉及金额3500亿欧元； 11月18日，欧盟委员会批准了规模为9000亿欧元的紧急救援计划； 11月19日，德国马歇尔计划开始实施。

欧盟发展历程英文

欧盟发展历程英文The Development of the European UnionThe European Union (EU) has undergone significant development since its establishment in the aftermath of World War II. This supranational organization, initially founded as the European Coal and Steel Community (ECSC) in 1951, aimed to ensure peace and stability in Europe by integrating key sectors of the economies of its member states.In 1957, the Treaties of Rome established the European Economic Community (EEC) and the European Atomic Energy Community (EAEC). The EEC sought to establish a common market among its member states, promoting the free movement of goods, services, capital, and people. Over time, the EU expanded its scope to encompass various policy areas, including agriculture, transportation, and regional development.In 1993, the Maastricht Treaty marked a significant milestone in the development of the EU. It transformed the EEC into the European Union and laid the foundation for the euro, the single currency shared by most EU member states. The treaty also established the pillars of the EU's political integration, encompassing foreign and security policies, as well as cooperation in judicial and home affairs.The EU continued to expand in the 2000s, with several waves of enlargement bringing in new member states from Central and Eastern Europe. This expansion strengthened the EU's role as a promoter of democracy, stability, and economic growth in the region.The EU has also faced various challenges throughout its development. Economic crises, such as the eurozone debt crisis in 2008, tested the resilience of the common currency and required collective efforts to stabilize the European economy. The EU has also grappled with issues of democratic legitimacy and decision-making, as well as managing the tensions between member states with differing national interests.In recent years, the EU has been focused on addressing global challenges, including climate change, migration, and cybersecurity. It has played a vital role in negotiating international agreements, such as the Paris Agreement on climate change, and in shaping global norms and standards.Overall, the development of the EU has been characterized by a gradual deepening of integration and cooperation among its member states. It has evolved from an organization primarily focused on economic cooperation to one with a broader mandate, encompassing political, legal, and social integration. Despite the challenges it faces, the EU continues to play a crucial role in maintaining peace, promoting prosperity, and protecting the values of its member states.。

European sovereign-debt crisis欧债危机

相关评论
“结果显示欧元区与最优货币区差距甚远” ——希腊基金经理贾森马诺洛普洛斯贾森·马诺洛普洛斯贾森 “正在浮现的主权债务危机……是西方世界的财政危机” ——英国经济学者尼埃尔·费格逊 “美元面临的处境可能比欧元还要危险 ” ——《金融时报》
中国该如何面对? 中国该如何面对
欧洲债务危机前的国内经济政策调整
Hale Waihona Puke 欧洲债务危机影响下的国内政策调整
产业升级势在必行
导语：导语：欧元区的崩溃绝不仅仅是一场金融动荡。近一百年来欧洲人为了欧洲避免战争和复兴的梦想也将付之一炬。
欧债危机概述
欧洲主权债务危机爆发的主要引线或导火索可以说是希腊。即希腊在2001年达到了欧盟的财赤率要求，同年加入欧元区。但是，这一过程对希腊国家而言，所付出的代价也是相当巨大的。具体而言，希腊为了尽可能缩减自身外币债务，与高盛签订了一个货币互换协议。这样，希腊就通过货币互换协议减少了自身的外币债务，达到足够的财赤率加入欧元区。但通过与高盛所签订的协议来看，希腊就必须在未来很长一段时间内支付给对方高于市价的高额回报。随着时间的推移，希腊的赤字率显然会走入低迷状态，进而导致了 2009 年的主权债务危机形成。
1.金融危机中政府加杠杆化使债务金融危机中政府加杠杆化使债务负担加重
外部原因欧债危机
1.产业结构不平衡：实体经济产业结构不平衡：产业结构不平衡空心化，空心化，经济发展脆弱 2.评级机构煽风点火，助推危机评级机构煽风点火，评级机构煽风点火蔓延
内部原因
2.人口结构不平衡：逐步进入人口结构不平衡：人口结构不平衡老龄化 3.刚性的社会福利制度刚性的社会福利制度

欧债危机（Europeandebtcrisis）

欧债危机（European debt crisis）The European debt crisis intensifiedThe spectre of a sovereign debt crisis lingers on the continentWith Greece, Ireland, Portugal's sovereign debt crisis warming, the debt crisis began to spread from the periphery to the core countries, Italy and Spain, who will be the European debt crisis, a fall of "Domino" became the talk of boiling point. As of the end of 2010, Italy's public debt to GDP ratio reached 119%, far higher than the upper limit of 60% "Maastricht treaty" provisions, in the EU after Greece 142.8%. In addition, Italy's economic growth is weak, the export growth trend is weak, the import commodity prices are soaring, and the bad economic environment makes Italy's crisis worse. Spain is also faced with the risk of being involved in the debt crisis. Data show that Spain's budget deficit in 2010 as high as 9.2% of gdp. Although the Spanish government is implementing the biggest budget cuts in 30 years, measures have also been taken to raise the retirement age and reduce the cost of layoffs. But the International Fund believes that Spain's measures to prevent the debt crisis are incomplete and face considerable risk of debt. According to reports, the financial giant Soros will blame the European debt crisis on Germany's selfishness and inaction. He believes that the German Prime Minister Merkel insisted on maintaining its own financial system security, and buried the scourge of today's European debt crisis. Italy's prime minister, Berlusconi, called on Congress to pass the austerity package as soon as possible. However, according to statistics, Italy's economy grew by 1.03% in the first quarter of 2011, and this slow economic growth could fall into recessiononce it meets fiscal austerity. If Italy seeks help from the outside world, it must tighten its economy, so it may be caught in a double predicament of recession and rising public debt. As the third and fourth largest economies in the euro area, Italy and Spain are among the most important players in the European economy, and the impact on markets is far weaker than in Greece, when debt defaults occur. In view of the fact that Italy and Spain huge foreign debt, some analysts believe that if the two countries into a debt crisis from market financing, then other EU countries will not have enough power to rescue Italy and Spain, the eurozone may therefore fall apart. From a global perspective, if the European sovereign debt crisis spread to the core countries, the global market will reverse the direction of investment, funds withdrawal from the stock market, commodity markets, access to precious metals markets, such as hedging. This will lead to an obvious fluctuation in asset prices, which may lead to a new round of financial crises. As the debt crisis in Italy and Spain approaches, the euro zone's second largest economy, France, is also facing debt risk. There are signs that market investors are shorting French sovereign bonds, and the debt crisis is pressing.Traces of American debt behind the European debt crisisBehind the European debt crisis is a deeper contest, that is, the United States and Europe are launching a war of currency dominance and debt resources. As a matter of fact, the United States continues to carry out structural authority given by its monetary hegemony". Since the birth of the euro, the euro has been one of the world's most powerful potential competitors, challenging the dollar hegemony system. First, the euro weakensthe dollar's position in international trade. For emerging market countries, the euro provides an alternative currency option to settle the dollar. As the euro area's main export commodities are competitive with the United States, the rise in the euro settlement will inevitably lead to a fall in the dollar settlement. The settlement amount is the pricing power, and the decrease of the US dollar settlement amount means the loss of the pricing power of the United States in the international market. Second, the euro hit the reserve currency position of the dollar. After the birth of the euro, the proportion of the world's total foreign exchange reserves continued to rise, while the dollar continued to decline. A statistical data according to IM F's official foreign exchange reserves, from 1996 to 2009, the dollar in international reserve position has experienced a "inverted U" trend, before the euro was formally established and at the beginning of the establishment, the dollar in international reserve status is rising, the proportion of world reserves from 1995 59% rose to 2001 by the end of 71.5%. But since 2001, the share of the dollar has fallen, and by 2010 it has fallen to 62.1%. However, the threat to the United States seems more than that, and one of the biggest challenges is the scramble for resources between American bonds and European bonds. This is perhaps the biggest concern for the United states. Under the borrowing dependent system, the US long-term international trade deficit and current account deficit can be maintained, and it needs to be guaranteed by the continuous revolving movement of U. S. dollars. To keep the dollar moving round and round, it must depend on exports from other countries in exchange for dollars,Other countries have traded dollars to invest in the UnitedStates by buying American bonds, and the dollar has returned to the United States to finance its debts. What worries the United States is that, like the United States, European countries are basically debt dependent countries". According to the IM F database, world debt issue of the number of the top ten countries, including the United States, 7 European countries and Japan and Australia, the 10 countries foreign bonds accounted for 83.8% of the world, and the eurozone bond market collection scale accounted for 45% of the world. The United States has more than 32% of the shares, this is undoubtedly the biggest challenge for the United States debt dependent system. Since the financial crisis, the Fed has become the biggest buyer of US debt and has monetized its currency through quantitative easing. Since the outbreak of the crisis, the Fed's balance sheet size increased from $899 billion 300 million in June 2007 to $27231 billion in early May 2011, is 3 times more than before the crisis. Now, the Fed is about to stop its $600 billion treasury bond purchase plan in June, and who will continue to take over such a huge debt is the biggest problem. With both the monetary and fiscal pressures on the US, only the creation of a bond that is worse than the US Treasury will allow the financial markets to choose a better one between bad and worse. So, the recent U.S. rating agencies continue to reduce Greece, Ireland, Belgium's sovereign credit rating, turns on the European debt crisis manufacturing turmoil, shorting Euro dollar, using "hedging properties" and a strong stage, the capital back into the United States, while the United States became the winner of the crisis, including Treasury and beauty shares and other institutions bonds popular dollar assets. Although the U.S. Treasury has exceeded the debt ceiling, but the 10 year Treasury yields and30 year Treasury yields hit a five month low, U.S. Treasury bonds being oversubscribed, debt financing smoothly. Between the inside and outside the pincer attack, the European debt crisis is no longer the crisis of the five European countries, the risk of the debt crisis spreading from the marginal countries to the core country is further increasing, and waiting for Europe will be a new round of debt storm. - Zhang MonanEurope's debt crisis or big bangLast weekend, Wei Jianguo, former Vice Minister of Commerce and Secretary General of the China International Exchange Center, said: "in order to guard against risks, China will no longer be eager to buy European debt.". China has bought a lot of European debt (about 1/4 of its foreign exchange reserves), and if the euro falls, China will suffer a huge loss. Europe can only go its own way, China can do very limited". This is a delicate and definite statement. The author believes that this is a correct decision, of course, is a painful decision - not to buy European debt, the United States can not buy more debt, China's foreign exchange reserves to buy what? From the beginning of the euro on Friday afternoon appeared Powei trend, although the U.S. payrolls data range, far less than expected, but the euro is still down after a brief recovery, which indicates that the euro will move closer to the rail under the shock City, probably in the week fell below the 14000 mark integer. The origin of the European debt crisis is the continued decline in competitiveness in the euro area. Before this competition decreased only two or three countries in line, and the debt crisis in Europe is a meeting after the rescue, theeuro zone countries have a obvious weakness. In August, economic data from the core countries of the euro zone were issued with a very negative warning, including Germany's August Manufacturing Purchasing Managers' index, with a final value of 50.9, expected to be 52, the lowest since September 2009. France's Manufacturing Purchasing Managers Index was worse in August, only 49.1. German and French data show that the region's two most powerful countries, the real economy has been growing at almost zero. Although we cannot conclude that Germany and France is a country like Greece dragged down -- save people dragged down is normal, but the conclusion that Germany and France have no spare capacity to save the eurozone two or three countries, is the fact that. Without the economic support of France and France, what happens in the euro area can be expected, and a strong euro is not expected. The second reason for the inevitable occurrence of the European debt crisis is that the rescue plan is impractical. The source of the European debt crisis is the most euro zone countries are a serious violation of financial discipline, but the EU's rescue plan is that Germany and France including the European Central Bank are a serious violation of financial discipline, the use of public funds and savings deposits to buy euro zone government debt line two or three. The results, although we can not say that By no means retrievable, at least to the recipient countries to send the wrong signal, can rely on big body, creditors who. Learned from the foreign media reports, the European Central Bank (ECB) last month decided to purchase the bonds of Italy, the country clearly slow budget consolidation measures.Italy's prime minister Berlusconi's promises to cut huge public debt have gone into empty talk. German media simply said:"because the European Central Bank's intervention, resulting in Italy budget measures even more confusing.". The European Central Bank to buy the bonds of Italy, every budget measures in Italy, the country's bond yields vary due to debt purchase operations of the European Central Bank to decline, the Italy government issued a signal to reduce the deficit can relax. Therefore, the decision to buy Italy's national debt was wrong. It's not just the European central bank that made the mistake. The solution of the European debt crisis is only one, is to give up the tail, the strong euro policy. Of course, this is extremely painful, and the extent of the pain is likely to exceed that of the US subprime crisis in 2008. Third reasons why the debt crisis is inevitable happened 17 euro zone countries is a mess, but not as strong as steel making. The European debt crisis spread from Greece to Ireland, where euro zone leaders gathered countless times, and each time made a statement to the world, showing how strong the euro zone was and how powerful it was. But as soon as the meeting is over, the noise is immediately transmitted through the media, and the small action is constant. Fourth reasons why the debt crisis inevitably happened in real is the main countries of the euro zone leaders lack the political sensitivity andforward-looking, misjudge the situation. How to solve the European debt crisis? It's difficult to drag out September, and the solution is not to buy bonds of troubled countries in the euro area, nor to create what is known as the euro zone's unified bond market. The only way is docked, Greece should be expelled from the euro zone. But objectively speaking, the best moment has been missed, because Italy, the euro zone third, which is much larger than Greece, will have an accident, followed by Spain, Portugal, ireland. To save it, the euro zone has no suchstrength. The last way is to push the euro zone high debt countries selling assets to repay, but the price is only suihangjiushi. The market would work only if the offer was lower, which would require a fall in the euro! To be sure, the ultimate solution to the European debt crisis is to be assessed after the euro crash. Today, the euro has fallen below the European Central Bank's defense line 13850, the lowest drop to 13386, will need at least 15% decline in the future. What about China? Only to see, can not buy, do not want to cover. Foreign exchange reserves are "cocktail", the euro is relative to other currencies down, the euro fell, the dollar will rise, and other currencies will rise. We can be thankful that holdings of euro assets are not many, 1/4 foreign exchange reserves in value, another 3/4 of the reserves in the appreciation of the euro, even if we suffer greatly, loss is not big. The problem is that the euro can not be bought in the future, and the foreign exchange reserves can not continue to increase substantially. The lessons of the European debt crisis tell us not only about the problems in the euro zone countries, but also that the currencies of almost all countries in the world are unreliable. The sure solution is not to expand the reserves indefinitely, but to spend the reserves.The spread of the European debt crisisThe European debt crisis is spreading to the core of the euro zone, this time in france. Moodie, a prominent rating agency, has warned that in the next 3 months whether to consider the French Treasury AAA rating "negative" will be considered". Negative observation is often the prelude to a downgrade. Moodie said in a statement, as with other euro zone sovereigncountries, France's financial position has weakened; the global financial and economic crisis in France, led to the financial indicators is the worst in other AAA countries. At present, a total of 6 countries enjoy the euro area AAA rating, namely France, Germany, Holland, Finland, Austria and Luxemburg, France's highest level of debt. IMF said public debt in France would reach 85% of GDP in 2011 and high in the world class AAA countries. The spread between French and German bunds widened to a record 93.2 basis points in October 17th, compared with just 29 basis points in April. A new wave of pressure on the French rating was largely caused by the exposure of its banking system to sovereign debt in Europe, as well as increased bailouts for other countries. The European Union is preparing to require European banks to increase the size and quality of their core capital, and the government will inject capital into substandard banks. Besides its own burden, France, the second largest economy in the euro area, is the second largest contributor to EU bailout funds. The euro zone is now studying how to expand the size of EFSF's borrowing to prevent a larger economy, such as Italy and Spain, into a crisis, which will add to the burden on public finances in france. In addition, the French economic growth situation also makes public finances not optimistic. In October 18 Pakistan Lu admitted that the forecasts for 2012 GDP growth of 1.75% will be too optimistic.Faubion Zulegdze, the chief economist at the European Policy Centre, argues that France is not very different from Spain in terms of its economic growth potential. The pressure on France's sovereign rating will make it harder for the euro zone to respond to the debt crisis. At present, the AAA rating of EFSF is based on the rating levels of the various fundedcountries, so Moodie also said in 17, if France suffered a downgrade, EFSF's highest rating will be questioned. In response, Europe is working to advance the permanent crisis response mechanism, the European stability mechanism (ESM). The most important feature of ESM is that it enjoys the status of an international institution like IMF without the impact of the investor rating. As scheduled, ESM will replace EFSF in the summer of 2013, but now Europe hopes to advance it by a year, at least in 2012。

高考英语考前突破阅读理解能力财经新闻欧盟已摆脱经济危机素材

欧盟已摆脱经济危机The eurozone has emerged from recession after a record 18 months of economic contraction.欧盟在经历了18个月的经济萎缩之后现已摆脱不景气局面。

The bloc's GDP grew by 0.3% in the second quarter of 2013, slightly ahead of forecasts, the Eurostat agency said.The growth was widely expected after the German economy rose 0.7% between April and June.However, the overall figure masks the mixed economic fortunes among the countries that make up the 17-country eurozone area.Germany and France both posted stronger-than-expected growth, expanding 0.7% and 0.5% respectively.Portugal, among the smallest and the weakest eurozone economies, showed the fastest growth, at 1.1%.The country was one of three that had to take a multi-billion-e uro bailout.ObstaclesBut Spain, which had to seek outside supp ort for its struggling banking sector, saw its economic o utput fall by 0.1% on the quarter.Italy and the Netherlands both saw output drop by 0.2%.European Commission Vice-President Olli Rehn said the figures suggested the European economy was g radually gaining momentum, but added there was no room for complacency."There are still substantial obstacles to overcome: the growth figures remain low and the tentative signs of growth are s till fragile," he said."A number of member states still have unacceptably high unemployment rates; the imple mentation of essential, but difficult reform s across the EU is still in its early stages. So there is still a very long way to go."Analysts from Capital Economics said: "The return to modest rates of e conomic growth in the eurozone as a whole won't address the deep-seated economic and fiscal problems of the peripheral countries."。

债务危机下欧盟财政的进展与挑战

债务危机下欧盟财政的进展与挑战
欧盟在债务危机之后，取得了一些财政上的进展，但仍面临着一些挑战。

进展：
1. 债务危机期间，欧盟成立了欧洲稳定机制（ESM）和欧洲议会债券购买计划（OMT）等机制，帮助国家解决债务问题。

2. 欧盟对债务危机国家进行了财政监管和改革要求，以确保其财政状况的改善。

3. 欧盟通过改革欧元区财政规则和建立经济治理框架，增强了财政稳定性和可持续性。

挑战：
1. 仍有一些债务危机国家面临高债务和高失业率等问题，财政状况仍不稳定。

2. 欧盟面临着经济增长疲弱和通胀率低的问题，这可能限制财政收入的增长。

3. 欧盟成员国之间存在着财政差异和政策分歧，这使得在财政事务上达成一致并采取
行动成为挑战。

4. 全球经济不确定性增加，贸易战和其他地缘政治风险可能对欧盟成员国的财政状况
产生负面影响。

综上所述，欧盟在债务危机后取得了一些财政进展，但仍然面临着一系列挑战。

为了
保持财政稳定和可持续性，欧盟需要继续进行结构性改革，增加经济增长和就业机会，加强财政合作和监管，并应对全球经济和地缘政治风险。

欧债危机(英文)

发展internalfactor?monetarypolicyandfiscalpolicyarenotunity?europeanintegrationbringsthedevelopmentoftheeconomyofthesmallcountry?economicstructuralimbalance?thesecountriesintheeurozonemaintainsocialneededwelfarecostsexceedthenationaleconomycandeliverthebearability蔓延thecountriesoftheeurozonedebttogdpratio124911671012845829825767739709663656516474428392164060120greeceitalybelgiumportugalirelandfrancegermanyaustriamaltaspainhollandcyprusfinlandsloveniaslovakialuxemburg现在国际上一般认为政府债务占gdp的比重的安全临界点是60以下in2009theeuropeanpublicdeficitstogdpratio0702203303403805305305506006106306807509401120136014302000170014001100800500200luxemburgfinlandgermanyaustriamaltaitalyhollandsloveniabelgiumcyprustheeuropeanaverageslovakiafranceportugalspaingreeceireland马斯特里赫特条约规定红线警戒线3升级?onmarch32010greeknamedfiscalausterityprogramme

欧洲主权债务危机英文共17页文档

2、What are the influences of the ESDC on China?
(disadvantages and advantages)
Over China’s foreign trade More money will leave China
Improve China’s structural transformation European overseas capital investment return Reconsider the local debt of China
欧洲主权债务危机英文
41、俯仰终宇宙，不乐复何如。 42、夏日长抱饥，寒夜无被眠。 43、不戚戚于贫贱，不汲汲于富贵。 44、欲言无予和，挥杯劝孤影。 45、盛年不重来，一日难再晨。及时当勉励，岁月不待人。
优秀精品课件文档资料
European Sovereign Debt Crisis and China
1、What’s European Sovereign Debt Crisis ? (the progress of the Crisis)
From late 2009, fears of a sovereign debt crisis developed among investors concerning some European states, intensifying in early 2010 and thereafter.
If potential lenders or bond purchasers begin to suspect that a government may fail to pay back its debt, they may demand a high interest rate in compensation for the risk of default. A dramatic rise in the interest rate faced by a government due to fear that it will fail to honor its debt is sometimes called a sovereign debt crisis.

欧债危机

现实原因：两极格局。欧洲和苏联格格不入，同时又受到美国的控制，为了摆
脱这种局面，各国走向联合。
经济原因：西欧各国普遍较小，为了适应第三次科技革命的需要，各国须扩大
市场，打破阻碍经济发展的桎梏，才能进一步促进欧洲经济发展。（经济原因也是根本原因）
欧债危机概述
欧债危机，全称欧洲主权债务危机，是指自2009年以来在欧洲部分国家爆发的主权债务危机。欧债危机是美国次贷危机的延续和深化，其本质原因是政府的债务负担超过了自身的承受范围，而引起的违约风险。早在2008年10月华尔街金融风暴初期，北欧的冰岛主权债务问题就浮出水面，而后中东债务危机爆发，鉴于这些国家经济规模小，国际救助比较及时，其主权债务问题未酿成较大全球性金融动荡。 2009年12月，希腊的主权债务问题凸显，2010年3月进一步发酵，开始向“欧洲五国”（葡萄牙、意大利、爱尔兰、希腊、西班牙）蔓延
1991年12月，欧洲共同体马斯特里赫特首脑会议通过《欧洲联盟条约》，通称《马斯特里赫特条约》（简称《马约》）。1993年11月1日，《马约》正式生效，欧盟正式诞生。2012年，欧盟获得诺贝尔和平奖。
欧盟成立的原因
历史原因：谋求统一是欧洲政治家长期的愿望。欧洲的国家有共同的地域，语
言上有相通性，而且有共同的文化传统和价值观。
欧债危机的演化历程
导火线-开端-发展-蔓延-升级
导火线
2009年12月全球三大评级公司下调希腊主权评级，使其陷入财政危机，欧元兑美元大幅下跌。希腊的财政问题或拖累其它欧盟国家，欧盟、希腊政府官员都在寻求解决希腊财政问题的方法。
开端
2009年十二月全球三大评级公司下调希腊主权评级，希腊的债务危机随即愈演愈烈，但金融界认为希腊经济体系小，发生债务危机影响不会扩大。

欧债危机ppt英文版

Euro Zone Policy System
10-year government bond interest rate spread between five countries and German
Euro Zone Policy System
• Undesirable Regulation of Euro Zone
1. Euro Zone Policy System 2. Large Budget Deficit 3. 2008 Global Financial Crisis
Euro Zone Policy System
Institutional defect of Euro Zone a) the duality of fiscal and monetary policy b) the layer of decision-making mechanism
2).debt write-off and restructuring
Long-term suggestions
1).integration of euro zone
The Euro zone should rebuild its fiscal system, which would coordinate the fiscal policy in each country soundly.
2).regulation of government debt
The Euro zone should strengthen the regulation of government fiscal deficit.
3).economic growth
The real solution to the debt crisis is economic growth.

欧债危机汉英翻译 yxl

Europe’s Sovereign Debt Crisis欧债危机The Greek debt crisis is spreading. Europe needs a bolder, broader solution—and quickly希腊债务危机正在蔓延。

欧洲急需一个果敢又全面的方针。

There comes a moment in many debt crises when events spiral out of control. As panic sets in, bond yields lurch sickeningly upwards and fear spreads to shares and currencies. In September 2008 the failure of once-stellar Lehman Brothers almost brought down the world’s banking system. A decade earlier, Russia’s chaotic default （违约）on its sovereign debt rocked the credit markets, felling Long Term Capital Management, a hugely profitable American hedge fund. When the unthinkable suddenly becomes the inevitable, without pausing in the realm of the improbable, then you have contagion（接触传染，金融风暴）.很多债务危机都会有局面失控的时候。

随着恐慌产生，公债利息一路猛涨，股市和汇市随即一片恐慌。

2008年9月，美国明星投行雷曼兄弟的丢盔弃甲差点把整个世界的银行系统拖下水。

Europe’s debt crisis Rushing for the exits 欧洲债务危机匆忙逃离

Europe‟s debt crisis Rushing for the exits 欧洲债务危机: 匆忙逃离A scramble is under way to reverse the run on Italian bonds意大利公债在一片混乱中完全失控Nov 12th 2011 | from the print editionTHE moment when a throng of peacefully moving people turns into a panicked herd is difficult to predict. Yet, once triggered, it is almost impossible to calm the hysteria. In financial markets too, it is better to avert panic than to try to pacify it.何时一群静静行走的人们突然变为受惊的群体，这是很难预测的。

但是，一旦触发，几乎很难让人群安定下来。

金融市场也是如此，与其设法安抚恐慌还不如避免恐慌。

On Italy‟s bond market, the world‟s third-largest, where yields had been rising for weeks, fear turned to panic early on November 9th. Risk officers at LCH.Clearnet, which stands between banks trading in bonds, said that its members would have to post much higher margins against their holdings of Italian government bonds.意大利的债券市场是全球第三大市场，债券收益经过连续几周的上涨后于11月9日市场从担忧转为恐慌。

欧债危机 PPT课件共50页

2019年11月25日葡萄牙主权评级遭惠誉降至垃圾级别，即由BBB-调降1级至BB+，前景展望为负面。
希腊
截至2009年底，希腊债务占GDP之比高达124.9%；至2019年底，这一比率已攀升至142.8%。目前，希腊不断累积的债务总额已高达3270亿欧元。另外，希腊财政部最新数据显示，该国2019年前四个月国家预算赤字修正后至72.46亿欧元，超出了69.24亿欧元的目标。
敞口达1760亿美元
欧债危机—蔓延
希腊财政部长称，希腊在5月19日之前需要约90亿欧元资金度过危机。欧盟成员国财政部长10日凌晨达成了一项总额高达7500亿欧元的稳定机制，避免危机蔓延。

2019年4月23日希腊正式向欧盟与IMF申请援助

2019年5月3日德内阁批224亿欧元援希计划
奥地利 ( 2019年 ) 芬兰 ( 2019年 ) 瑞典 ( 2019年 ) 波兰 ( 2019年 ) 拉脱维亚 ( 2019 年 ) 立陶宛 ( 2019年 ) 爱沙尼亚 ( 2019年 ) 匈牙利 ( 2019年 ) 捷克 ( 2019年 ) 斯洛伐克 ( 2019 年 ) 斯洛文尼亚 ( 2019年 ) 马耳他 ( 2019年 ) 塞浦路斯 ( 2019 年 ) 保加利亚 ( 2019年 ) 罗马尼亚 ( 2019年 )
欧债国家举债成本显著上升，丧失偿债能力，主权债务违约风险，欧洲银行体系崩溃
欧元区国家受影响，融资成本上升；经济受拖累，失业上升
欧元解体，南欧部分国家退出欧元区，欧洲经济长期阵痛，欧洲经济地位下降。
全球跟着糟殃美国笑了？
对政治的冲击
随着欧债危机的蔓延恶化，深陷主权债务危机中的国家的政局都受到严重影响。

欧债危机中英文讲稿

欧债的开始December 2009 the three largest credit rating companies downgraded Greece's sovereign rating, then the Greek debt crisis intensified, but the financial community that the Greek economy is small, the debt crisis will not expand.● December 8, 2009 Fi tch credit rating of Greece lowered from A-to BBB +, outlook negative.● December 15, 2009 the Greek government bonds sold 2 billion euros.December 16, 2009 Standard & Poor's will be Greece's long-term sovereign credit rating from "A-" down to "BBB +".● December 22, 2009 Moody's December 22, 2009 announced that it would cut Greece's sovereign rating from A1 to A2, the rating outlook to negative欧债的发展Other European countries are also in crisis, including Belgium, the outside world that the more stable countries, and strong economic strength of the euro area, Spain, the high budget deficits are forecast the next three years, Greece has been the protagonist of non-crisis, the European Union have been debt-crisis.● January 11, 2010 Moody's warned Portugal failure to take effective measures to control the deficit will cut the national debt credit rating.● February 4, 2010 the Spanish Ministry of Finance pointed out that Spain in 2010 will account for fear of the overall public budget deficit of 9.8% of GDP.● February 5, 2010 debt crisis sparked fears of 6% of Spain's stock market plunge the day, record the largest decline in 15 months.欧债的升级Greek Finance Minister said that Greece is required before May 19 of about 90 billion euros to weather the crisis. EU finance ministers reached an 10 am up to 750 billion euros of the total stabilization mechanism to prevent the crisis from spreading.● April 23, 2010 Greece formally applied to the EU and IMF assistance● May 3, 2010 German cabinet approved € 22.4 billion aid plan● 10 May the EU approved 750 billion euros Greek aid program, IMF may provide 250 billion euros to aid Greece欧债危机的影响Faced by countries such as Greece's sovereign debt problems, the euro exchange rate from December 2009 onwards all the way down, to April 27, 2010, the euro-dollar exchange rate closed at its lowest point over the past year, compared with early December 2009 fell by 12.8 %. If you can not effectively solve the debt problems of countries such as Greece, difficult to restore market confidence, would further suppress the euro exchange rate. The international community generally believes that the euro has been the debt problems of Greece and other countries drag from the most difficult period since the birth.Greece, Spain, Portugal and other countries to take the radical austerity, might make the economy back into recession. According to the latest IMF forecast, in 2010, Greece, Spain, Ireland and Portugal, the four countries real GDP growth rate of -2%, -0.4%, -1.5% and 0.3%, the worst performance in the euro area member countries . At present, although concentrated in the Greek sovereign debt of a country, but there continues to spread the risk to other euroarea countries, Standard & Poor's on April 27, 28, a series of lower Greece, Portugal and Spain's sovereign credit rating is fueling such a panic.As the single currency area, economic imbalances within the euro area monetary policy to the implementation of a uniform manufacturing obstacles, economic recovery in the euro area member states of step with the European Central Bank relaxed monetary policy in the implementation of "exit" strategy is difficult to determine a suitable for all members of the timetable. The euro-zone countries, Greece and other debt problems exposed, dragged down the pace of economic recovery in the euro area, the ECB may also have a longer period of time the benchmark interest rate at historic lows.Since its launch the euro, with strong economic strength, has quickly become the second largest after the U.S. dollar the international currency, the euro financial crisis provides an opportunity to enhance its international status. But the debt problems of Greece and other countries undermined confidence in the euro market, if not effectively addressed as soon as possible, will seriously affect the international status of the euro and the overall stability of the euro area, euro area monetary union model will also be severely tested.IMF on April 20 and 21, has released "Global Financial Stability Report" and "World Economic Outlook", the developed countries have expressed concerns about sovereign debt risk. The IMF "World Economic Outlook report," said the short term, the main risk is that if left unchecked, the Greek sovereign debt market liquidity and solvency concerns, may evolve into a fully sovereign debt crisis, and the formation of a kinds of spreading.Solution●The first pillar: Bank capital increaseBanks need additional capital, so that it could withstand the loss and subsequent bankruptcy absorbing Greek influence. In contrast, bank capital increase is "three pillars" in the easier one. The key is to determine the bank's core tier one capital ratio.●The second pillar: Relief FundOn how to locate EFSF function divergence. France, the European Union and the United States can hope EFSF additional capital in the bank in the process, play a more central and active role. Germany believes that, should act as lender of last resort to EFSF role only in the bank itself and the national government can not provide the necessary support to problem banks, only need to come forward EFSF. In addition to the planned funding for the bank and the second round of the Greek aid measures but also to prevent the debt crisis turned into a banking crisis.●The third pillar: the Greek debt restructuringRestructuring of the Greek debt hinges on Greek government bonds held by creditors appropriate by design, so that Greece's debt sustainability, and economic growth through fiscal restraint and to make up. In the July 21 bailout program, the bank holding the bond reduction of 21%, the nominal value equivalent to the Greek debt decreased by 5%. But now is not enough. France initially objected to significantly reduce the total debt of Greece, because France is the largest of the Greek debt holders. Germany recommends a substantial reduction of the Greek debt.对中国的影响：The EU is China's largest export market. The current stage of the European crisis will have asignificant impact on China's export trade and there are sig ns that this is already happening.When the financial crisis first struck the US and Europe in 2008, China's ex ports to the EUremained unaffected. It was only in 2009 that exports to the EU suffered a large fall. This wasfollowed by a strong recovery in 2010, whi ch brought exports to the EU back up close to theirpre-crisis levels. It appe ared that the EU and Chinese exports there had returned to normal.This has turned out to be an illusion. The failure of the EU to deal with the problems it facedmerely delayed the day of reckoning.This strong growth in imports from China was sustained in the first few mo nths of this year, butmore recently it has slowed sharply. According to EU s tatistics, imports from China grew by only8.4 percent in May.This figure hides sharp differences across the member states of the EU. Chi na's exports toseveral EU countries have experienced falls in recent month s. Imports from China by Portugalfell 11.6 percent in May. In March and Apri l imports by Spain fell, although they managed asmall increase in May. The countries worst hit by the crisis are relatively small importers ofChinese go ods. Of greater significance is the UK, one of the biggest markets for China, whoseimports also went into a decline in May.It is not only the crisis-hit countries where import growth has been weakeni ng. Imports fromChina by Denmark also fell in May. Import growth in Franc e and the Netherlands has alsoslowed sharply. Even more significant is tha t the growth in imports by Germany has alsodecelerated rapidly, and in Mar ch experienced a decline for the first time since January 2010,although this was followed by two months of weak growth.While some countries in Europe, like Italy, have maintained strong import g rowth from China,this may not last much longer and the signs are multiplyi ng that China's exports to the EU arefacing severe difficulties. China's expo rts to the EU are highly cyclical. There is normally atrough in monthly expor ts early in the year, followed by a steady rise to a peak in aboutOctober. Th e main exporting season of 2011 is still ahead of us, but the most recent sig ns arenot positive, especially in those countries in severe economic difficul ties.Even if it manages to finally adopt policies to solve the crisis, many market s in the EU will notreturn to strong growth any time soon. The policies requi red to solve the crisis will imposesevere economic hardship over a number of years. This will have a long-term effect on China'sexports to the EU.Chinese exporters may have to face the prospect that unlike in 2008, there may be no quickreturn to strong growth across many markets in the EU.The author is a senior researcher with Brussels Institute of Contemporary C hina Studies.翻译：影响方面：对照上文的影响受希腊等国家面临的主权债务问题影响，欧元汇率从2009年12月起一路下跌，至2010年4月27日，欧元兑美元汇率报收一年来的最低点，较2009年12月初下跌了12.8％。

European debt crisis 欧债危机-文档资料

Belgium, Spain, other European countries began to fall into crisis and non crisis in Greece has been the protagonist.
Spread
Germany and other leading euro-zone countries have begun to feel the impact of the crisis, the euro is facing the most severe test since the establishment
Causes of debt crisis
Industrial structure
The entity economy is hollow and the economic development is fragile.
Iture
The aging trend in the Greek is accelerated
Social welfare system
The social welfare system is so well ,so Fiscal expenditure is too huge to repay the debt in the Greek .
Details
First, the sovereign debt problem is actually a continuation of the financial crisis and deepening. Second, the duality of the euro area fiscal and monetary policy has led to sovereign debt problems. Third, the euro-zone countries is caused by internal imbalances the underlying causes of debt problems. Fourth, the EU's external debt crisis, structural contradictions are factors in the system.