The refuse-to-budge budget: Italy

view on Economist Espresso -- fan qiang kan

The refuse-to-budge budget: Italy

• budget 预算；政府的年度预算

1. The government is due to send its revised 2019 budget to Brussels today.

2. The European Commission rejected the original as an unprecedented deviation from agreed targets.

• unprecedented 前所未有的；空前的；没有先例的
• deviation 偏差；偏离；背离；违背

3. But then Italy has an unprecedented government: a populist coalition between the anti-establishment Five Star Movement and the hard-right Northern League.

4. It is committed to spend more and tax less to try to boost chronically slow economic growth.

• chronically 慢性地

5. There has so far been no sign the government intends giving way on its intended deficit (2.4% of GDP).

6. The finance minister, Giovanni Tria, thinks it “suicide” to respect the previous government’s spending pledges.

• suicide 自杀；自杀性行为；自毁；自取灭亡的行为

7. The revised budget may include mechanisms to prevent the deficit exceeding 2.4% and other minor adjustments.

• revised 修正的
• deficit 赤字；逆差；亏损

8. That is unlikely to satisfy the Commission, which could ultimately fine Italy. The standoff has raised Italy’s borrowing costs to awkward, but not yet frightening, levels.

• standoff 僵局；困局；僵持不下
• awkward 令人尴尬的；使人难堪的；难对付的；难处理的

9. Investors appear to be banking on a compromise in the longer term.

• compromise 妥协；和解；折中；互让

image.png

――
国家，国际问题

不定期更新Espresso Economist上面的文章，请关注