Greek debts threaten the euro 希臘債務危及歐盟
European leaders at a summit in Brussels have been discussing the Greek economy and have agreed to help the country with its financial crisis. The aim is to protect the economies of countries using the euro.
This summit was supposed to be a chance for Europe's prime ministers and presidents to discuss ways to promote growth and jobs, but with the euro single currency facing its worst ever crisis, the original agenda has long since been scrapped. Instead, all the focus will be on how to shore up Greece's precarious finances. Though the Greek economy is relatively small, its membership of the euro zone means its fate is wedded to that of the stronger currencies in the single currency.
For years Greek governments have spent more than they earned in taxes and borrowed to make up the shortfall. That public debt now threatens to engulf the economy. Greece's new socialist government has introduced some drastic austerity measures, such as a public sector pay freeze and fuel price increases to try to reduce the deficit, but the prospect of a default has prompted huge falls on the Greek stock market. The uncertainty has spread to other big euro debtors like Spain and Portugal. It's this contagion that most worries euro zone leaders as it risks destroying confidence in the euro as a whole.
So what to do? By underwriting the Greeks' debts they hope to stop the financial turbulence spreading and protect themselves in the process. But such largesse is not without risk. If they do end up having to pay Greece's debts, the leaders meeting here know it will be both expensive and unpopular with the voters back home.
Premier League 英格蘭足球超級聯賽
A leading English football club plying its trade in the world's richest league has moved a step closer to financial ruin, in a case which highlights the dire economic climate the "beautiful game" finds itself in.
Portsmouth, currently languishing at the bottom of the Premier League, faces an even greater battle off the pitch as it attempts to block a move by British tax authorities to have it placed in administration due to unpaid taxes.
目前名列英格蘭足球超級聯賽墊底，奄奄一息的樸次茅斯球隊有一場更硬的仗要打 -- 得阻止因未繳稅而被英國稅捐處判決政府收管。
US Announces Taiwan Arms Sale, Braces for Chinese Reaction 美國宣布對台出售武器 對中國反應防備
The Pentagon has informed Congress it will sell more than $6 billion worth of military equipment to Taiwan, a move expected to anger China and possibly result in retaliation.
The Pentagon's official notification was long expected. It says the United States will sell helicopters, advanced defensive missiles, anti-mine ships, radar, communications equipment and related items to Taiwan, which China regards as a renegade province. The planned sale does not include advanced F-16 fighter jets, which Taiwan had wanted.