The economy and everyday life

I. Mind the pronunciation of the following words:

literally [`lIt({)relI] - буквально

outward [ `autw{d] - внешний; ~ sign – внешний признак

retire [rI`taI{] - уходить в отставку

wealth [welT] - богатство; процветание

exchange [Iks`tSeIn(d)Z] - биржа

insurance [In`Su{r({)ns] - страхование

merchant [ `m{:tS({)nt] - торговый; коммерческий

epitomize [I`pIt{maIz] - воплощать; олицетворять

secrecy [ `si:krIsI] - секретность; тайна

discretion [dIs`kreS({)n] - свобода действий

quid [ kwId] - соверен; фунт стерлингов

haggle [ `h@gl] - торговаться; спорить

charity [`tS@rItI] - благотворительность

adventurous [{d`vents({)r{s] - предприимчивый

shabbiness [`S@bInIs] - бедность; убогость

II. Read the text.

The one thing the English will never forgive

the Germans for is working too hard.

George Mikes

This statement was written by a Hungarian humorist who emigrated to Britain in 1938. He wrote it in the 1960s, when the German economy was rapidly overtaking Britain’s. Living standards in Britain have risen steadily since then, but not as fast, perhaps, as they have in other EU countries. Britain used to be one of the wealthiest countries in Europe. These days it is often, by most standards of measurement, poorer than the EU average.