Английский язык для экономистов - Малюга Е.Н.
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2. The officials were in lockstep that a "harmonized" effort is necessary to fix the airline industry's problems, including standardized security procedures and a more cooperative approach to competition issues.
3. The European officials were adamant that subsidies for ailing airlines be eliminated.
4. Some American companies are benefiting from government assistance and unfairly competing with European companies for trans-Atlantic routes.
5. Whenever you have a system that doesn't produce a reliable process, it behooves governments to intervene.
E. Render the extract from the article using the active vocabulary.
Что касается внутренней политики, президент наконец-то отказался от своей точки зрения, что правительству не следует вмешиваться в бизнес, заявив, что контроль над финансовой отчетностью корпораций будет только ужесточаться. Буш не сказал слово «Энрон» прямо, но выразил резкое недовольство тем, что ложные финансовые заявления компании нанесли ущерб людям. Appendix A
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«Я прошу Конгресс ввести в действие новые механизмы защиты пенсионных планов, — сказал Буш под аплодисменты. — Сотрудники, работавшие так упорно и копившие деньги всю жизнь, не должны рисковать потерять все в том случае, если рухнет их компания».
Буш сделал обещание в духе Клинтона — использовать властные полномочия правительства для создания рабочих мест и защиты людей, не имеющих медицинской страховки. Это — резкая перемена по сравнению с его инаугурационной речью, когда он сказал американцам, что «ваши действия не менее важны, чем любые действия правительства».
Unit 10. Monetary and Fiscal Policy
A. Read the extract from the article from the CNN Money website and complete it with the expressions listed.
growth levels effort catch up reversal
end product synchronized lift structural
brainstorming disagreement fiscal and monetary
stim ulus coordination reforms
A Patchwork Recovery
WEFpanels say US economy looks set to recover, but... (1) needed in Europe, Japan.
New York (CNN/Money) — Most participants at the World Economic Forum's annual meeting here believe the global economy will eventually recover, but many think it will be a patchwork recovery, unlike the ... (2) recession of 2001.
... (3) sessions and workshops Thursday and Friday produced a general consensus that US policy makers, particularly the Federal Reserve, had responded appropriately to last year's recession. The world's other large economies, however, need to ... (4).
Most participants thought the U.S. economy is set for a recovery, though there was some ... (5) about the size and strength of that recovery. Many expect a weak, slow7 recovery in the United States, and some even expect another ... (6) before sustainable growth returns. CEOs in the United States are among those most pessimistic, according to US Treasury Secretary Paul O'Neill, who spoke at a brainstorming session Thursday.
O'Neill pointed to strong productivity growth as contributing to strong economic growth in the United States and the world. Other economists 284
Appendix A
believe aggressive ... (7), combined with low oil prices, will boost the US economy.
There was disagreement about whether or not a coordinated policy ... (8), similar to the one that came immediately after the Sept. 11 terrorist attack, was necessary to ... (9) the global economy. But there was a consensus that Europe needs structural reforms before it can reach sustainable ... (10) and that Japan needs serious reforms before it can even stop its recession.
"I do think there is a need for... (11) of economic policy, but this doesn't mean that everybody has to do the same thing, and there has to be a recognition that if the individual houses are not in order, the ... (12) cannot be a good one," French finance minister Laurent Fabius said in a workshop Friday.
B. After filling in the gaps read the extract once more and decide which of the statements are True and which are False and write T for True and F for False.
1. European and Japanese economies are ready for recovering.
2. Many participants consider that global economy recovery won't be simultaneous and uniform.
3. The actions of the Federal Reserve were generally approved at brainstorming sessions.
4. Some economists believe that aggressive fiscal and monetary stimulus is everything that is needed for the boost of the economy.
5. Coordinated policy effort is necessary to lift the global economy.
C. Give Russian equivalents and make up your own sentences:
¦ non-transparent business practices;
¦ corporate accounting;
¦ access to world markets;
¦ recurring theme;
¦ to level the playing field for developing countries.
D. Translate the following sentences into Russian.
1. Though the United States apparently has its house more in order than Europe's or Japan's and is widely acknowledged as the locomotive pulling the rest of the world behind it, it should not be complacent.
