Never has a straitjacket seemed so ill-fitting or so insecure. The Euro area

游客2025-05-03 1

问题 Never has a straitjacket seemed so ill-fitting or so insecure. The Euro area’s "stability and growth pact" was supposed to stop irresponsible member states running excessive budget deficits, defined as 3% of GDP or more. Chief among the restraints was the threat of large fines if member governments breached the limit for three years in a row. For some time now, no one has seriously believed those restraints would hold. In the early hours of Tuesday November 25th, the Euro’s fiscal straitjacket finally came apart at the seams.
The pact’s fate was sealed over an extended dinner meeting of the Euro area’s 12 finance ministers. They chewed over the sorry fiscal record of the Euro’s two largest members, France and Germany. Both governments ran deficits of more than 3% of GDP last year and will do so again this year. Both expect to breach the limit for the third time in 2004. Earlier this year the European Commission, which polices the pact, agreed to give both countries an extra year, until 2005, to bring their deficits back into line. But it also instructed them to revisit their budget plans for 2004 and make extra cuts. France was asked to cut its underlying, cyclically adjusted deficit by a full 1% of GDP, Germany by 1. 8%. Both resisted.
Under the pact’s hales, the commission’s prescriptions have no force until formally endorsed in a vote by the Euro area’s finance ministers, known as the "Eurogroup". And the votes were simply not there. Instead, the Eurogroup agreed on a set of proposals of its own, drawn up by the Italian finance minister, Giulio Tre-monti. France will cut its structural deficit by 1. 8% of GDP next year, Germany by 0.6%. In 2005, both will bring their deficits below 3% , economic growth permitting. Nothing will enforce or guarantee this agreement except France and Germany’s word. The European Central Bank (ECB) was alarmed at this outcome, the commission was dismayed, and the smaller Euro-area countries who opposed the deal were apoplectic: treaty law was giving way to the "Franco-German steamroller" , as Le Figaro, a French newspaper, put it
This anger will sour European politics and may spill over into negotiations on a proposed EU constitution. Having thrown their weight around this week, France and Germany may find other smaller members more reluctant than ever to give ground in the negotiations on the document The EU’s midsized countries also hope to capitalize on this ressentiment Spain opposes the draft constitution because it will give it substantially less voting weight than it currently enjoys. It sided against France and Germany on Tuesday, and will point to their fiscal transgressions to show that the EU’s big countries do not deserve the extra power the proposed constitution will give them. [br] The text is mainly about______

选项 A、the enforcement of Eurogroup’s prescriptions.
B、the hypocrisy of some Euro’s members on deficit.
C、the Euro’s dilemma in solving deficit problems.
D、the implementation of Euro’s monetary policies.

答案 C

解析题干问：“这篇文章主要讲述了……”。此题考察本文的中心，正确选项为C“欧盟在解决财政赤字时的进退两难”。而选项A“实施欧盟的规定”。选项B“某些欧盟成员国对于赤字的虚假报告”和选项D“实施欧盟的金融政策”，虽然在文中部分提及，但都不是文章的中心。

转载请注明原文地址:https://www.tihaiku.com/zcyy/4059666.html

相关试题推荐

随机试题

最新回复(0)

Never has a straitjacket seemed so ill-fitting or so insecure. The Euro area

Thereseemedlittlehopethattheexplorer,______inthetropicalforest,would

Thereseemedlittlehopethattheexplorer,____inthetropicalforest,wouldfin