首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
A year ago, monetary union looked as if it was heading for certain death, with the European banking system in apparent meltdown
A year ago, monetary union looked as if it was heading for certain death, with the European banking system in apparent meltdown
admin
2016-03-10
36
问题
A year ago, monetary union looked as if it was heading for certain death, with the European banking system in apparent meltdown and extreme divergence in monetary conditions across the single currency area. In all but name, monetary union had already ceased to exist.
Action by the ECB(European Central Bank), first with the cash-for-debt Long Term Refinancing Operation and, more recently, the promise of unlimited bond purchases, has succeeded in stilling the waters, at least to some degree. Even a Greek exit seems, for the time being, to be off the table. With more austerity, Berlin seems minded to give Greeks another chance—until the next bail-out, in any case.
But, though the single currency may have been saved from imminent death on the operating table, it seems now to be heading for a scarcely more appetising alternative—a condition of chronic, long-term illness where still very tight monetary conditions in many parts of the eurozone in combination with lockstep austerity threaten to induce a virtually permanent state of depression. Even Germany shows every sign of slipping back into economic contraction.
For Britain, still reliant as it is on some sort of a recovery in European trade to see it through its own austerity program, there could scarcely be a set of circumstances less helpful to long-term recovery than this.
New research by Dawn Holland and Jonathan Portes of the National Institute of Economic and Social Research has confirmed what has long been suspected—that co-ordinated fiscal consolidation across many EU countries has not only had a substantially larger negative impact on growth than expected, but has also had the very reverse consequence to the one intended by raising rather than lowering debt-to-GDP ratios.
You need to be a little bit careful with these findings, which are somewhat self-serving. Under Jonathan Portes, the National Institute has positioned itself very much on the stimulus side of the austerity-versus-stimulus debate. This is a paper that sets out to prove that the poor growth performance of most EU countries, including the UK, is primarily down to fiscal austerity.
Nonetheless, the number crunching seems to be robust enough, and it’s hard to disagree with the paper’s central finding that fiscal multipliers are much larger than in more normal times when consolidation is conducted collectively and into conditions of an already depressed economy.
Even so, the paper suffers from one, rather glaring, omission. Whether you are on the big or small state side of the argument, there is no doubt that fiscal consolidation is urgently needed in much of the eurozone periphery(外围), and some parts of the core as well.
Which of the following is an idea held by Jonathan Portes?
选项
A、Britain’s poor growth performance was due to fiscal austerity.
B、His findings are not suitable for the countries like the UK.
C、Most EU countries should raise their debt-to-GDP ratios.
D、EU countries should rely on fiscal austerity to avoid depression.
答案
A
解析
细节题。第六段末句提及This is a paper that sets out to prove that the poor growthperformance of most EU countries,including the UK,is primarily down to fiscal austerity.由此可知[A]的含义与此相符,故为答案。
转载请注明原文地址:https://kaotiyun.com/show/r6PK777K
0
专业英语四级
相关试题推荐
SputnikIwasthefirstartificialsatellite.Itcanbedescribedasanaluminum【C1】______withadiameterof58centimetersand
Globalwarmingisalreadycuttingsubstantiallyintopotentialcropyieldsinsomecountries—tosuchanextentthatitmaybea
JazzisAmerica’scontributiontopopularmusic.【C1】______classicalmusic,whichfollowsformalEuropeantraditions,jazzis【C2
Whichofthefollowingitalicizedpartsindicatesaresult?
Wemustn’trelyonsheerenthusiasmandsubstituteourpersonalfeelingsforpolicy.Theunderlinedpartmeans______.
Heistooyoung______theoldsociety.
Teachersneedtobeawareoftheemotional,intellectual,andphysicalchangesthatyoungadultsexperience.Andtheyalsoneed
OnacoolJunemorning,LizNeumarkisstirringupasimplesummersoupforsomeverydemandingclients.AscofounderandCEOof
[A]addicts[B]adjustments[C]administration[D]amazing[E]bother[F]compares[G]conserves[H]constantly[I]dominant[J]eliminate[K]laun
(1)Ourknowledgeoftheoceanshundredsofyearsagowasconfinedtothetwo-dimensionalshapeoftheseasurfaceandthehazard
随机试题
30岁女性患者,因“尿路感染”服药后症状消失,3周后因劳累后症状复现。要认定此次是否为复发的最好方法是
A.淋巴细胞B.小鼠脾细胞C.小鼠骨髓细胞D.小鼠骨髓瘤细胞E.杂交细胞能分泌抗体的是
A.温肾敛肺B.温肾补精C.温肾纳气D.滋阴降火E.温补气血知柏地黄丸的功能是
尾矿坝的堆积坝采用()式筑坝法时,应于坝前均匀放矿,维持坝体均匀上升,不得任意在库后或一侧岸放矿。
根据《安全生产检测检验机构管理规定》,安全生产检测检验机构在资质有效期内超出批准的业务范围从事检测检验活动的,责令其停止超范围检测检验并处罚款;不补办增项手续,继续超范围检测检验的,应当()。
疏散模拟分析需要首先在软件中输入计算参数,一般疏散模拟需要输入的参数包括()。
甲公司位于某市市区,为增值税一般纳税人,2017年7月税务机关对其2016年度纳税情况检查中发现如下问题:(1)所属某仓库多提折旧100000元;(2)12月为本企业管理人员购入的一批元旦福利商品购买价款为200000元,增值税税额为3
()不是物料需求计划的目标。
(2009年真题)电子出版物的特点有()等。
假设某台式计算机的内存储器容量为128MB,硬盘容量为10GB。硬盘的容量是内存容量的()。
最新回复
(
0
)