Ireland Asks For Bailout From European Union, IMF
爱尔兰要求欧盟、国际货币基金组织(IMF) 支持
DUBLIN — Debt-crippled Ireland formally applied Sunday for a massive EU-IMF loan to stem the flight of capital from its banks, joining Greece in a step unthinkable only a few years ago when Ireland was a booming Celtic Tiger and the economic envy of Europe.
都柏林——债务缠身的爱尔兰正式要求EU-IMF提供大量贷款以阻止其银行资金外逃,当几年前希腊深陷危机之苦时,爱尔兰经济在欧洲那可是如日中天。
European Union finance ministers quickly agreed in principle to the bailout, saying it "is warranted to safeguard financial stability in the EU and euro area." But all sides said further weeks of negotiations loomed to define the fund's terms, conditions and precise size.
欧盟各国财政部长快速同意原则上对其支持,并称“保证维护欧盟和欧元区金融稳定。”但各方说未来几周开始定义援助基金的条款,条件和规模。
Ireland's crisis, set off by its foundering banks, borrowing costs not only for Ireland but for other weak links in the eurozone such as Spain and Portugal. Ireland's agreement takes some pressure off those countries, but they still may end up needing bailouts of their own.
爱尔兰的危机始发于其崩溃的银行,抬高本国和欧元区其他薄弱国家的借贷成本,如西班牙和葡萄牙。(同意支持)爱尔兰的协议,为这些国家减少了些压力,但他们仍可能会需要紧急救助自己。
The European Central Bank – which oversees monetary policy for the 16-nation eurozone and first raised alarm bells about a renewed cash crisis in Dublin banks – said the aid would "contribute to ensuring the stability of the Irish banking system." Sweden and Britain, not members of the euro currency, said they also were willing to provide bilateral loans to Ireland.
欧洲中央银行监管欧元区16国的货币政策,并第一次为都柏林银行现金危机敲响警钟——说这项援助”有助于稳定的爱尔兰银行系统。”瑞典和英国,并不是欧元的成员,说他们也愿意为爱尔兰提供双边贷款。
Irish Finance Minister Brian Lenihan spent much of Sunday talking to other eurozone financial chiefs about conditions they would place on the emergency aid package taking shape.
爱尔兰财政部长布莱恩列里汗花了很多时间与其他欧元区财政主管讨论对他们初具规模的紧急援助的条款。
Lenihan said Ireland needed less than euro100 billion ($140 billion) to use as a credit line for its state-backed banks, which are losing deposits and struggling to borrow funds on open markets. He said the loan facility could last anywhere from three to nine years.
列里汗说爱尔兰需要不到100亿欧元(约合140亿美元),用于为国家支持的银行提供信用额度,其银行正在开放市场上失去存款借入资金而苦苦挣扎。他说借贷情形会持续至少3至9年。
International Monetary Fund director Dominique Strauss-Kahn said his organization "stands ready to join this effort, including through a multiyear loan." He said IMF experts already in Dublin would "hold swift discussions on an economic program with the Irish authorities, the European Commission, and the European Central Bank."
国际货币基金组织老大卡恩说:“他的部门代表准备加入这个支持计划,包括通过长期贷款。”他说国际货币基金组织(IMF)专家早就在都柏林举行同爱尔兰当局,欧洲委员会,和欧洲中央银行“迅速的” 讨论经济计划。
Ireland has been brought to the brink of bankruptcy by its fateful 2008 decision to insure its banks against all losses – a bill that is swelling beyond euro50 billion ($69 billion) and driving Ireland's deficit into uncharted territory.
为了确保他的银行对抗全部损失,2008年通过了关乎命运的决定——一项法案,增发50亿欧元(约合69亿美元) ,使爱尔兰濒于破产的边缘。
The country had long resisted a bailout, but Lenihan said it was now painfully clear that Ireland needed "financial firepower" immediately to complement its own cutthroat plans for recovery.
该国家曾长期拒绝支持,但列里汗说现在的爱尔兰毫无疑问的需要“资金实力”来恢复自己。
This country of 4.5 million now faces at least four more years of deep budget cuts and tax hikes totaling at least euro15 billion ($20.5 billion) just to get its deficit – bloated this year to a European record of 32 percent of GDP – back to the eurozone's limit of 3 percent by 2014.
这个国家450万人口现在面临着至少4年预算削减和增税,至少总计150亿欧元来平衡预算,把占32%的国内生产总值(GDP)的赤字,在2014年需下降3%,达到欧元区设置的门槛。
The European Central Bank and other eurozone members had been pressing behind the scenes for Ireland – long struggling to come to grips with the true scale of its banking losses – to accept a bailout that would reassure investors the country won't, and can't, go bankrupt.
欧洲中央银行和其他欧元区的成员已经表示支持爱尔兰——很长时间内爱尔兰为其天量的银行损失而苦苦挣扎,以便打消投资者的爱尔兰会破产的疑虑。
The economically struggling governments of Spain and Portugal, in particular, had criticized Ireland's recent determination to keep going it alone. Ireland's inability to stop its financial bleeding has fueled investor fears of wider eurozone defaults and driven up those countries' borrowing costs on bond markets.
特别是在经济上挣扎的西班牙和葡萄牙政府批评爱尔兰一意孤行。爱尔兰无法阻止其金融大出血,导致投资者担心大欧元区不肯出手相救,从而抬高了这些国家在债券市场的借贷成本。
But even with Ireland seeking aid, financial analysts say Spain and Portugal remain on course for potential bailouts of their own. Spain is fighting Europe's highest unemployment rate and Portugal is seen as doing too little to restructure an unusually uncompetitive economy.
但即使是爱尔兰寻求帮助,财务分析师说西班牙和葡萄牙的潜在救助还得靠自己。西班牙的失业率欧洲最高,葡萄牙的经济最没有竞争力。
Ireland's move comes just six months after the EU and IMF organized a euro110 billion ($150 billion) bailout of Greece and declared a euro750 billion ($1.05 trillion) safety net for any other eurozone members facing the risk of imminent loan defaults. It demonstrates that creating the three-layered fund didn't, by itself, reassure global investors that it would be safe, or smart, to keep lending to the eurozone's weakest members.
欧盟和国际货币基金组织(IMF)筹措了1100亿(1500亿美元)亿美元支持希腊,宣布对其他欧元区的成员7500亿欧元(1.05万亿美元)风险贷款, 6个月后,对爱尔兰的支持又开始了。就其本身而言证明了创造了三层基金也未能向全球投资者表明给欧元区最弱的成员贷款是安全的。
Economists question whether the economies of Ireland, Portugal, Spain and Greece will grow sufficiently to build their tax bases and permit them to keep financing, never mind paying down, their debts. The euro, however, has shown some resiliency in the tumult so far, remaining relatively strong against the U.S. dollar.
经济学家的问题是爱尔兰、葡萄牙、西班牙、希腊是否能增长到足够的程度建立他们的税基并允许他们继续融资,且不介意支付能力和债务。然而,到目前为止的骚动中,欧元也展示出一些弹性,对美元相对较强。
Lenihan said Ireland most needed a "contingency" fund from which Irish banks could borrow. He said the funds would "not necessarily" be used and emphasized that the government's own operations are fully funded through mid-2011.
Lenihan说爱尔兰最需要一个爱尔兰银行可以借钱的基金,。他表示,这些资金将“不必”被使用并强调政府在2011中期提供充足的资金。
The rapid pace of Sunday's humiliating Irish U-turn surprised many analysts, given how Lenihan and Ireland's deeply unpopular prime minister, Brian Cowen, appeared in recent days to be in denial that Ireland needed a cent of foreign aid.
Lenihan和爱尔兰总理布莱恩考恩前几天还在在否认爱尔兰需要外国援助, 周日的爱尔兰态度180度的大转弯令人大跌眼镜。
More than 30 banking experts from the IMF, ECB and European Commission began arriving in Dublin only on Thursday to begin poring over the books and projections of the government, treasury and banks, a mammoth task expected to take weeks.
国际货币基金组织(IMF)欧洲央行(ECB)和欧洲委员会的30多个银行专家在星期四到达都柏林,开始钻研这些政府、国库、银行的账目,这是一个庞大的任务,预计需要几个星期。
Ireland's precipitous fall has been tied to the fate of its overgrown banks,which received access to mountains of cheap money once Ireland joined the eurozone in 1999. The Dublin banks bet the bulk of their borrowed funds on rampant property markets in Ireland,Britain and the United States, a strategy that paid rich dividends until 2008,when investors began to see the Irish banking system as a house of cards.
爱尔兰的急剧下跌与其银行业的过度发展有关,爱尔兰在1999年加入了欧元区,打开了获得廉价资金的大门。都柏林银行豪赌其借入的大部分资金在猖獗的在爱尔兰、英国和美国房地产市场会有斩获,到2008年还有可观的分红,当时投资者开始明白了爱尔兰银行系统极不可靠。
When the most reckless speculator, Anglo Irish Bank, faced bankruptcy in September 2008, it and other Irish banks persuaded Lenihan and aides that they faced only short-term cash problems, not a terminal collapse of their loan books.
当最不计后果的投机者,英国爱尔兰银行,眼看在2008年9月就要破产,它与其他爱尔兰银行说服Lenihan和助手,他们面临着只有短期资金问题,而不是它们贷款账目最终崩溃。
Lenihan announced that Ireland would insure all deposits – and, much more critically, the banks' massive borrowing from overseas investors – against any default, an unprecedented move.
Lenihan宣布,爱尔兰就能保证所有的存款,更关键的是,银行从海外投资者大量违约借贷,是一种前所未有的举措。