金融英语chapter one Currency.ppt

Financial English Chapter One Currency Learning objective: Lead-in questions Lead-in questions Background knowledge The History of the Euro Glossary Glossary Glossary Phrases Phrases Phrases Phrases Phrases Phrases Phrases Phrases Phrases Phrases Phrases Phrases Special Terms Notes to the text Notes to the text Notes to the text Notes to the text Notes to the text Notes to the text Notes to the text Notes to the text Notes to the text Notes to the text Notes to the text Key to exercises Key to exercises Key to exercises Key to exercises Key to exercises Key to exercises Key to exercises Key to exercises Key to exercises 10. an optimal currency area 最优货币区 In economics, an optimum currency area (OCA), also known as an optimal currency region (OCR), is a geographical region in which it would maximize economic efficiency to have the entire region share a single currency. It describes the optimal characteristics for the merger of currencies or the creation of a new currency. The theory, which serves as the theoretical foundation for the birth of the euro, is often used to argue whether or not a certain region is ready to become a monetary union. 11.the market for Treasuries 美国政府债券市场 The Treasury market is where the United States government raises money by issuing debt. The market for U.S. Treasury instruments is one of the most important financial markets in the world as it provides pricing information for other markets. As these instruments are seen as virtually risk-free, the interest rates on Treasury debt sets the baseline risk-free rate on which almost all other interest rates (corporate bond yields, mortgage rates, credit card rates, etc.) are built. As a result, trends in the Treasury market have significant implications for both the global debt market and the global stock market. 12. A big central budget means that borrowing risks are pooled, too, rather than falling on small, troubled countries such as Greece. 一个庞大的中央预