本期同步音频
01
文章脉络
【1】2020年初以来，欧盟成员国支出高起，且之前的计划已经不起作用。
【2】峰会上，几乎所有国家就增加欧盟预算、提高欧盟债务利率及为面临难民激增的国家提供支持达成了一致。
【3】但匈牙利总理提出了自己的条件，否则不会同意。
【4】各国财政部长们仍在努力解决另一财政混乱局面。
【5】各国同意调整计划开削减债务，并承诺进行投资和改革，但德国法国有着自己的想法。
【6】过于规范严格的规则可能也是一个问题。
02
背景知识
“欧盟财政规则迎来新起点。”英国《金融时报》不久前发表文章称，欧盟在2024新年来临前就改革财政规则——《稳定与增长公约》达成一致。新规则规定，欧盟成员国的财政赤字如果超过国内生产总值（GDP）的3%，需在期限内削减财政赤字。
据欧盟统计局数据，当前，欧元区平均政府赤字率（财政赤字占国内生产总值的比重）为3.6%，欧盟平均政府赤字率为3.3%，超过财政规则规定的上限。
另据欧盟委员会发布的经济数据，2023年全年，约有12个欧盟国家赤字率超过规定的3%。其中，法国、比利时、西班牙等国赤字率超过4%，罗马尼亚、匈牙利、波兰、斯洛伐克、意大利、马耳他的赤字率超过5%。
欧盟委员会曾发布警告称，由于赤字高企，多国需要调整财政预算计划。如果忽视警告，可能会启动《稳定与增长公约》规定的“超额赤字”调查程序及相应罚款机制。
欧盟官方网站的信息显示，《稳定与增长公约》1997年推出，旨在促进欧盟成员国加强财政和经济政策的协调。2023年12月下旬，欧盟成员国经济和财政部长就改革《稳定与增长公约》达成协议。路透社报道称，改革后的新规则提出更循序渐进、有针对性的减支要求，注重在削减赤字和债务的同时支持公共投资。
03
经济学人原文
本篇原文出自：《The Economist 经济学人》December 23rd&30th 2023【Europe】
Euro-budgets：How to fund it
Europe is struggling to find the money
【1】The EU’s27members have spent freely since early2020to support their economies andcitizensthrough a globalpandemic, a war on theirdoorstepand an energy-pricesurge. Back in2020richer northern EU membersreluctantlysigned up to a debt-fundedrecovery fund worth €806bn ($880bn, some5% of EU GDP in2022) that mostlybenefitsthe south and east of the union. But high interest rates havebentthese plans out of shape.
【2】At asummiton December14th and15th all countries bar one reached an agreement on how to top up the EU budget to pay for more financial support for Ukraine (a pot of €50bn over the next four years), as well as higher interest rates on EU debt and extra support for countries facing asurgein the arrival ofrefugees. Thecompromisewas lessgenerousthan the Europeancommission, thebloc’sexecutivearm, had hoped for, but it was enough to win almost everyone’s agreement.
【3】The loneoppositioncame from Viktor Orban, the prime minister of Hungary. He had just given histacitagreement to opening membership talks with Ukraine, after the EUreleased€10bn of funds earmarked for Hungary that had until then beenfrozenas apunishmentfor his rule-of-lawabuses. His price for approving the largerfiscalpackage is probably for the EU tounblockHungary’s remaining and still-frozen€20bn. But hisleverageislimited. Ideas beingfloatedto get around hisvetoinclude using the European Stability Mechanism (ESM), the eurozone’sbail-out fund which has plenty of sparecapacity. If Mr Orban’sbluffis called early next year, he may well fold.
【4】Finance ministers, meanwhile, are still trying to sort out a differentfiscalmess. The eurozone’sbyzantinedeficitrules were barelyworkablebefore the covid-19pandemic. They were too complex, put overlyonerousdemands on highlyindebtedcountries and led toprocyclicalbudget cuts without making much if anyallowancefor green investment. When thepandemicstruck, the rules weresuspendedto allow countries to spend freely, and have not beenenforcedsince. With their return due at the start of2024, they were indesperateneed of an upgrade.
【5】Thecommissionhadproposedrules that would give it more power and that wouldsticklessslavishlytonumericaltargets. Countries would agree toadjustmentplans to bring down debt and commit toinvestmentsandreformsthat would boost growth. But Germany wanted to require countries to lower theirdeficitsand debt by set minimum amounts each year. As The Economist went to press, France was expected on December20th to give in, after much back and forth, under the rather self-servingconditionthat these new measures would not fully apply before President Emmanuel Macron’s term is over.
【6】Over-prescriptiverules can indeed be a problem, as Germany itselfillustrates. In November itsconstitutionalcourt ruled variousaccountinggimmicks to be illegal under the country’s strictdeficitrules. The governingcoalitionhas since then put together budget cuts and tax increases toplugthe gaps—at a time when Germany’s economy isstagnantand the country should be investing heavily. Sometimes,muddlingthrough is not enough.
04
长难句
1）原文：Ideasbeing floated to get around his vetoinclude using the European StabilityMechanism (ESM),the euro zone’s bail-out fundwhich has plenty of spare capacity.
2）分析：
l红色部分是主句，是主谓宾结构。橙色部分是现在分词短语做后置定语，修饰ideas；绿色部分是ESM的同位语结构。
l蓝色部分是which引导的定语从句，修饰先行词fund。
3）译文：为了绕过他的否决权，大家又提出了一些想法，包括利用欧洲稳定机制（ESM），也就是欧元区的救助基金，这里的空闲资金还是够用的。
1）原文：As The Economist went to press,France was expected on December 20th to give in,after much back and forth,under the rather self-serving conditionthat these new measures would not fully apply before President Emmanuel Macron’s term is over.
2）分析：
l红色部分是主句。蓝色部分是as引导的状语从句，橙色部分是时间状语从句，紫色部分是状语从句，表示前提条件。
l绿色部分是condition的同位语从句，解释condition的内容。
3）译文：正如《经济学人》所报道的那样，多次反复之后，法国预计将在12月20日做出让步，条件是这些新措施在埃曼纽尔·马克龙（Emmanuel Macron）总统任期结束前不会完全生效，这显然是出于一种自私的考虑。
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