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 pa
A. a set of new proposals will be in.
B. smaller countries oppose the deal.
C. some restraints are fading away.
D. the agreement is not guaranteed.
| 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 thi 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. [单项选择]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, A. vocal in their own interests. B. angry in face of potential threats. C. considerate of large members. D. supportive of a proposed treaty. 我来回答: 提交
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