To maintain | Поддерживать |
To conduct | Проводить |
To pursue | Осуществлять |
Objective | Цель |
Cooperation | Сотрудничество |
To contribute | Вносить вклад |
Legal tender | Законное платежное средство |
Participant | Участник |
Currently | В настоящее время |
To link | Связывать |
Legal | Официальный, законный |
To involve | Вовлекать |
To monitor | Контролировать |
Stocks | Запасы |
Shortage | Недостаток, нехватка |
Surplus | Избыток |
Demand | Спрос |
Definition | Определение |
Implementation | Осуществление |
Smooth | Ровный, плавный, стабильный |
Governing Council | Совет управляющих |
Executive Board | Исполнительный совет |
To adopt | Принимать |
Guidelines | Основные направления |
To ensure | Обеспечивать |
To entrust | Возлагать, поручать |
To relate to | Относиться к чему-либо |
To assess | Оценивать |
Issue | Вопрос |
The minutes | Протокол |
To announce | Объявлять |
SUGGESTED ACTIVITIES
Drill 1. Find the equivalents of the following phrases in the text:
- поддерживать стабильность цен;
- проводить единую денежно-кредитную политику;
- осуществлять цель;
- крупнейшая в истории мира перестройка денежно-кредитной системы;
- обменный курс не является фиксированным;
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- де юре (официально, по закону);
- де факто (на практике);
- иметь право на выпуск евро;
- изымать банкноты из обращения;
- контролировать запасы банкнот и монет евро;
- компенсировать нехватку банкнот в одной стране за счет излишков в центральном банке другой страны;
- покрывать любые серьезные изменения спроса, используя дополнительные стратегические резервы;
- проводить валютные операции;
- управлять официальными валютными резервами;
- способствовать стабильной работе платежных систем;
- принимать основные направления;
- обеспечивать выполнение задач, возложенных на Евросистему;
- решения, относящиеся к целям денежно-кредитной политики, процентным ставкам, обеспечением резервов для Евросистемы;
- оценивать достижения в области экономики и денежно-кредитной политики;
- объявлять решения в денежно-кредитной политике на пресс-конференции.
Drill 2. Find the adverbs related to the following adjectives:
Free | Close |
Current | Usual |
Physical | Short |
Drill 3. Find the nouns related to the following adjectives:
Stable | Central |
Monetary | Short |
Cooperative | Strategic |
National | Executive |
Successful | Economic |
Participating | Responsible |
Drill 4. Find the nouns related to the following verbs:
To change | To promote |
To develop | To conduct |
To circulate | To govern |
To participate | To decide |
To define | To perform |
To implement | To supply |
To manage | To establish |
Drill 5. Find the adjectives related to the following geographical names:
Europe | Finland |
Belgium | Cyprus |
Germany | Denmark |
Greece | Estonia |
Spain | Hungary |
France | Lithuania |
Ireland | Malta |
Italy | Poland |
Luxemburg | Slovakia |
Netherlands | Slovenia |
Austria | Sweden |
Portugal | United Kingdom |
Drill 6. Find the synonyms for the following words and expressions in the text:
Single currency | Council |
The main directions | To implement |
Purpose | Two times a month |
To control | Achievement |
Reserve | To help |
Official | Participant |
To cover shortage | Now |
Drill 7. Find the words and expressions with the opposite meaning in the text:
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Shortage | Free |
Supply | Legally |
To issue | Participant |
Inflation | The first step |
Drill 8. Answer the following questions:
1) When was the ECB established?
2) What kind of establishment is known as the Eurosystem?
3) What was the final step in the world’s largest monetary changeover?
4) When did the euro become a legal tender?
5) How many participants does the Eurosystem currently consist of? Enlist them.
6) Who issues and withdraws euro banknotes?
7) How is the shortage of banknotes in any country compensated?
8) What is the main aim of the ECB?
9) What are the basic tasks of the ECB?
10) What is the governing body of the ECB?
Drill 9. Match the terms with the appropriate definitions:
1. Competition | a) an increase in the general level of prices in an economy that is sustained over a period of time. |
2. Foreign exchange market | b) the particular amount of interest which a household or business borrower is required to pay to a lender for borrowing a particular sum of money to finance spending on consumption and investment. |
3. Inflation | c) a process whereby firms strive against each other to secure customers for their products, i.e. the active rivalry of firms for customers using price variations, product differentiation strategies, etc. |
4. Interest rate | d) the part of country’s money supply which is, in the eyes of the law, totally acceptable in payment for the purchase of goods and services or repayment of debt. |
5. Legal tender | e) a market engaged in the buying and selling of foreign currencies. |
Drill 10. Fill in the blanks and translate the following abstract:
The Statute of the European Central Bank is an integral … of the Maastricht …. Article 2 of the ECB … states that “the primary … of the ECB shall be to maintain … …. Without prejudice to the objective of price stability, it shall support the general … policies in the Community with a view to contributing to the achievement of the … of the Community. The ECB shall act … … … the principles of an open … economy with free …, favouring an efficient allocation of resources.”