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Text4 Most forecasts suggest that Britain will be a poorer country afier Brexit,largely because trading with the European Union will become more difficult.Such predictions about the distant future are,by their nature,open to doubt,which is partly why Brexit's proponents feel free to dismiss them.But the same does not apply to a new paper by Meredith Crowley,Oliver Exton and Lu Han from Cambridge University,which suggests that,months before Brexit has even happened,trade is already suffering,as firms respond to the prospect of higher tariffs.More than 100,000 British businesses export goods to the EU each year.At present they enjoy tariff-free trade with the country's biggest export market.But all face uncertainty as Britain negotiates a new trading relationship with Brussels.Some fear disaster if the talks break down.British carmakers could face a l0%tanff to export to the EU market.Dairies might have to pay tariffs of more than 30%.These extra costs could make exporting uneconomic.The Cambridge paper looks at the exporting decisions of British firms,across 8,000 types of product,in response to the tariffs that Britain would face in the event of reaching no trade deal with the EU.Where necessary,they adjust their calculations to take account of exchange-rate fluctvations.Since the referendum many companies appear to have reduced their exports to the EU.The research suggests that the bigger the potential tariff facing a product,the more nervous:firms are about exporting it.Why risk producing for a market that could soon become unwelcoming?Overall,the number of companies that began exporting new products to the EU in 2016 would have been 5%higher if there had been a Remain vote,the paper finds.It is hard to know what those firms that decided against producing for the EU did instead.The research finds little evidence,however,that they have lived up to the hopes of Brexiteers and boosted their exports to fast-growing non-EU markets.Some may have tried to sell more within Britain.Businesses may have only temporarily scaled down their production of exports for the EU.Normal service could resume ifBritain negotiates a good trade deal.But some damage is already done.The paper's results imply that in 2016 Britain lost some~lbn（$1.3bn）of exports to the EU because of the mere threat of higher tariffs.The long-term impact will be greater.Some of the firms dissuaded from exporting would have turned into big beasts.The referendum was only halfway through 2016,and the paper does not analyse data after that year.Meanwhile,Brexit uncertainty continues to rise.
According to the first paragraph,supporters of Brexit______
According to the first paragraph,supporters of Brexit______
A.are on the wrong side
B.don't care these foretells
C.are oppose to the predictions
D.don't doubt the future of Britain
B.don't care these foretells
C.are oppose to the predictions
D.don't doubt the future of Britain
参考答案
参考解析
解析：事实细节题。根据定位词定位到文章第一段。原文指出，这种关于遥远未来的预测，就其本质而言，是没有可信度的，这在一定程度上解释了为什么英国脱欧的支持者觉得这种说法可以不予理会，其中，proponents与supporters为同义替换．dismiss与don't care为同义替换，故B项为正确选项。【干扰排除】A项无中生有；原文说的是没有可信度，并非反对．C项错误；D项原文未提及。故均排除。
更多 “Text4 Most forecasts suggest that Britain will be a poorer country afier Brexit,largely because trading with the European Union will become more difficult.Such predictions about the distant future are,by their nature,open to doubt,which is partly why Brexit's proponents feel free to dismiss them.But the same does not apply to a new paper by Meredith Crowley,Oliver Exton and Lu Han from Cambridge University,which suggests that,months before Brexit has even happened,trade is already suffering,as firms respond to the prospect of higher tariffs.More than 100,000 British businesses export goods to the EU each year.At present they enjoy tariff-free trade with the country's biggest export market.But all face uncertainty as Britain negotiates a new trading relationship with Brussels.Some fear disaster if the talks break down.British carmakers could face a l0%tanff to export to the EU market.Dairies might have to pay tariffs of more than 30%.These extra costs could make exporting uneconomic.The Cambridge paper looks at the exporting decisions of British firms,across 8,000 types of product,in response to the tariffs that Britain would face in the event of reaching no trade deal with the EU.Where necessary,they adjust their calculations to take account of exchange-rate fluctvations.Since the referendum many companies appear to have reduced their exports to the EU.The research suggests that the bigger the potential tariff facing a product,the more nervous:firms are about exporting it.Why risk producing for a market that could soon become unwelcoming?Overall,the number of companies that began exporting new products to the EU in 2016 would have been 5%higher if there had been a Remain vote,the paper finds.It is hard to know what those firms that decided against producing for the EU did instead.The research finds little evidence,however,that they have lived up to the hopes of Brexiteers and boosted their exports to fast-growing non-EU markets.Some may have tried to sell more within Britain.Businesses may have only temporarily scaled down their production of exports for the EU.Normal service could resume ifBritain negotiates a good trade deal.But some damage is already done.The paper's results imply that in 2016 Britain lost some~lbn（$1.3bn）of exports to the EU because of the mere threat of higher tariffs.The long-term impact will be greater.Some of the firms dissuaded from exporting would have turned into big beasts.The referendum was only halfway through 2016,and the paper does not analyse data after that year.Meanwhile,Brexit uncertainty continues to rise. According to the first paragraph,supporters of Brexit______A.are on the wrong side B.don't care these foretells C.are oppose to the predictions D.don't doubt the future of Britain” 相关考题
考题
When people become less confident about the future, they will cut back on their outlays and save money.()
考题
Text 4 Will the European Union make it?The question would have sounded strange not long ago.Now even the project's greatest cheerleaders talk of a continent facing a“Bermuda triangle”of debt,population decline and lower growth.As well as those chronic problems,the EU faces an acute crisis in its economic core,the 16 countries that use the single currency.Markets have lost faith that the euro zone's economies,weaker or stronger,will one day converge thanks to the discipline of sharing a single currency,which denies uncompetitive members the quick fix of devaluation.Yet the debate about how to save Europe's single currency from disintegration is stuck.It is stuck because the euro zone's dominant powers,France and Germany,agree on the need for greater harmonization within the euro zone,but disagree about what to harmonies.Germany thinks the euro must be saved by stricter rules on borrow,spending and competitiveness,backed by quasiautomatic sanctions for governments that do not obey.These might include threats to freeze EU funds for poorer regions and EU megaprojects and even the suspension of a country's voting rights in EU ministerial councils.It insists that economic coordination should involve all 27 members of the EU club,among whom there is a small majority for freemarket liberalism and economic rigour;in the inner core alone,Germany fears,a small majority favour French interference.A“southern”camp headed by French wants something different:“European economic government”within an inner core of eurozone members.Translated,that means politicians intervening in monetary policy and a system of redistribution from richer to poorer members,via cheaper borrowing for governments through common Eurobonds or complete fiscal transfers.Finally,figures close to the France government have murmured,eurozone members should agree to some fiscal and social harmonization:e.g.,curbing competition in corporatetax rates or labour costs.It is too soon to write off the EU.It remains the world's largest trading block.At its best,the European project is remarkably liberal:built around a single market of 27 rich and poor countries,its internal borders are far more open to goods,capital and labour than any comparable trading area.It is an ambitious attempt to blunt the sharpest edges of globalization,and make capitalism benign.
Regarding the future of the EU,the author seems to feel____A.pessimistic
B.desperate
C.conceited
D.hopeful
考题
Text 4 Will the European Union make it?The question would have sounded strange not long ago.Now even the project's greatest cheerleaders talk of a continent facing a“Bermuda triangle”of debt,population decline and lower growth.As well as those chronic problems,the EU faces an acute crisis in its economic core,the 16 countries that use the single currency.Markets have lost faith that the euro zone's economies,weaker or stronger,will one day converge thanks to the discipline of sharing a single currency,which denies uncompetitive members the quick fix of devaluation.Yet the debate about how to save Europe's single currency from disintegration is stuck.It is stuck because the euro zone's dominant powers,France and Germany,agree on the need for greater harmonization within the euro zone,but disagree about what to harmonies.Germany thinks the euro must be saved by stricter rules on borrow,spending and competitiveness,backed by quasiautomatic sanctions for governments that do not obey.These might include threats to freeze EU funds for poorer regions and EU megaprojects and even the suspension of a country's voting rights in EU ministerial councils.It insists that economic coordination should involve all 27 members of the EU club,among whom there is a small majority for freemarket liberalism and economic rigour;in the inner core alone,Germany fears,a small majority favour French interference.A“southern”camp headed by French wants something different:“European economic government”within an inner core of eurozone members.Translated,that means politicians intervening in monetary policy and a system of redistribution from richer to poorer members,via cheaper borrowing for governments through common Eurobonds or complete fiscal transfers.Finally,figures close to the France government have murmured,eurozone members should agree to some fiscal and social harmonization:e.g.,curbing competition in corporatetax rates or labour costs.It is too soon to write off the EU.It remains the world's largest trading block.At its best,the European project is remarkably liberal:built around a single market of 27 rich and poor countries,its internal borders are far more open to goods,capital and labour than any comparable trading area.It is an ambitious attempt to blunt the sharpest edges of globalization,and make capitalism benign.
The debate over the EU's single currency is stuck because the dominant powers_____A.are competing for the leading position
B.are busy handling their own crises
C.fail to reach an agreement on harmonization
D.disagree on the steps towards disintegration
考题
Text 4 Will the European Union make it?The question would have sounded strange not long ago.Now even the project's greatest cheerleaders talk of a continent facing a“Bermuda triangle”of debt,population decline and lower growth.As well as those chronic problems,the EU faces an acute crisis in its economic core,the 16 countries that use the single currency.Markets have lost faith that the euro zone's economies,weaker or stronger,will one day converge thanks to the discipline of sharing a single currency,which denies uncompetitive members the quick fix of devaluation.Yet the debate about how to save Europe's single currency from disintegration is stuck.It is stuck because the euro zone's dominant powers,France and Germany,agree on the need for greater harmonization within the euro zone,but disagree about what to harmonies.Germany thinks the euro must be saved by stricter rules on borrow,spending and competitiveness,backed by quasiautomatic sanctions for governments that do not obey.These might include threats to freeze EU funds for poorer regions and EU megaprojects and even the suspension of a country's voting rights in EU ministerial councils.It insists that economic coordination should involve all 27 members of the EU club,among whom there is a small majority for freemarket liberalism and economic rigour;in the inner core alone,Germany fears,a small majority favour French interference.A“southern”camp headed by French wants something different:“European economic government”within an inner core of eurozone members.Translated,that means politicians intervening in monetary policy and a system of redistribution from richer to poorer members,via cheaper borrowing for governments through common Eurobonds or complete fiscal transfers.Finally,figures close to the France government have murmured,eurozone members should agree to some fiscal and social harmonization:e.g.,curbing competition in corporatetax rates or labour costs.It is too soon to write off the EU.It remains the world's largest trading block.At its best,the European project is remarkably liberal:built around a single market of 27 rich and poor countries,its internal borders are far more open to goods,capital and labour than any comparable trading area.It is an ambitious attempt to blunt the sharpest edges of globalization,and make capitalism benign.
The French proposal of handling the crisis implies that______A.poor countries are more likely to get funds
B.strict monetary policy will be applied to poor countries
C.loans will be readily available to rich countries
D.rich countries will basically control Eurobonds
考题
Text4 Most forecasts suggest that Britain will be a poorer country afier Brexit,largely because trading with the European Union will become more difficult.Such predictions about the distant future are,by their nature,open to doubt,which is partly why Brexit's proponents feel free to dismiss them.But the same does not apply to a new paper by Meredith Crowley,Oliver Exton and Lu Han from Cambridge University,which suggests that,months before Brexit has even happened,trade is already suffering,as firms respond to the prospect of higher tariffs.More than 100,000 British businesses export goods to the EU each year.At present they enjoy tariff-free trade with the country's biggest export market.But all face uncertainty as Britain negotiates a new trading relationship with Brussels.Some fear disaster if the talks break down.British carmakers could face a l0%tanff to export to the EU market.Dairies might have to pay tariffs of more than 30%.These extra costs could make exporting uneconomic.The Cambridge paper looks at the exporting decisions of British firms,across 8,000 types of product,in response to the tariffs that Britain would face in the event of reaching no trade deal with the EU.Where necessary,they adjust their calculations to take account of exchange-rate fluctvations.Since the referendum many companies appear to have reduced their exports to the EU.The research suggests that the bigger the potential tariff facing a product,the more nervous:firms are about exporting it.Why risk producing for a market that could soon become unwelcoming?Overall,the number of companies that began exporting new products to the EU in 2016 would have been 5%higher if there had been a Remain vote,the paper finds.It is hard to know what those firms that decided against producing for the EU did instead.The research finds little evidence,however,that they have lived up to the hopes of Brexiteers and boosted their exports to fast-growing non-EU markets.Some may have tried to sell more within Britain.Businesses may have only temporarily scaled down their production of exports for the EU.Normal service could resume ifBritain negotiates a good trade deal.But some damage is already done.The paper's results imply that in 2016 Britain lost some~lbn（$1.3bn）of exports to the EU because of the mere threat of higher tariffs.The long-term impact will be greater.Some of the firms dissuaded from exporting would have turned into big beasts.The referendum was only halfway through 2016,and the paper does not analyse data after that year.Meanwhile,Brexit uncertainty continues to rise.
The author believes that the impact of Brexit uncertainty is______A.enormous
B.obscure
C.fierce
D.controllable
考题
Text4 Most forecasts suggest that Britain will be a poorer country afier Brexit,largely because trading with the European Union will become more difficult.Such predictions about the distant future are,by their nature,open to doubt,which is partly why Brexit's proponents feel free to dismiss them.But the same does not apply to a new paper by Meredith Crowley,Oliver Exton and Lu Han from Cambridge University,which suggests that,months before Brexit has even happened,trade is already suffering,as firms respond to the prospect of higher tariffs.More than 100,000 British businesses export goods to the EU each year.At present they enjoy tariff-free trade with the country's biggest export market.But all face uncertainty as Britain negotiates a new trading relationship with Brussels.Some fear disaster if the talks break down.British carmakers could face a l0%tanff to export to the EU market.Dairies might have to pay tariffs of more than 30%.These extra costs could make exporting uneconomic.The Cambridge paper looks at the exporting decisions of British firms,across 8,000 types of product,in response to the tariffs that Britain would face in the event of reaching no trade deal with the EU.Where necessary,they adjust their calculations to take account of exchange-rate fluctvations.Since the referendum many companies appear to have reduced their exports to the EU.The research suggests that the bigger the potential tariff facing a product,the more nervous:firms are about exporting it.Why risk producing for a market that could soon become unwelcoming?Overall,the number of companies that began exporting new products to the EU in 2016 would have been 5%higher if there had been a Remain vote,the paper finds.It is hard to know what those firms that decided against producing for the EU did instead.The research finds little evidence,however,that they have lived up to the hopes of Brexiteers and boosted their exports to fast-growing non-EU markets.Some may have tried to sell more within Britain.Businesses may have only temporarily scaled down their production of exports for the EU.Normal service could resume ifBritain negotiates a good trade deal.But some damage is already done.The paper's results imply that in 2016 Britain lost some~lbn（$1.3bn）of exports to the EU because of the mere threat of higher tariffs.The long-term impact will be greater.Some of the firms dissuaded from exporting would have turned into big beasts.The referendum was only halfway through 2016,and the paper does not analyse data after that year.Meanwhile,Brexit uncertainty continues to rise.
If new trading relationship failed,Britain would_____A.seek other trade opportunities
B.lose lots of export markets
C.reduce their external trade
D.face more export tariffs
考题
Text4 Most forecasts suggest that Britain will be a poorer country afier Brexit,largely because trading with the European Union will become more difficult.Such predictions about the distant future are,by their nature,open to doubt,which is partly why Brexit's proponents feel free to dismiss them.But the same does not apply to a new paper by Meredith Crowley,Oliver Exton and Lu Han from Cambridge University,which suggests that,months before Brexit has even happened,trade is already suffering,as firms respond to the prospect of higher tariffs.More than 100,000 British businesses export goods to the EU each year.At present they enjoy tariff-free trade with the country's biggest export market.But all face uncertainty as Britain negotiates a new trading relationship with Brussels.Some fear disaster if the talks break down.British carmakers could face a l0%tanff to export to the EU market.Dairies might have to pay tariffs of more than 30%.These extra costs could make exporting uneconomic.The Cambridge paper looks at the exporting decisions of British firms,across 8,000 types of product,in response to the tariffs that Britain would face in the event of reaching no trade deal with the EU.Where necessary,they adjust their calculations to take account of exchange-rate fluctvations.Since the referendum many companies appear to have reduced their exports to the EU.The research suggests that the bigger the potential tariff facing a product,the more nervous:firms are about exporting it.Why risk producing for a market that could soon become unwelcoming?Overall,the number of companies that began exporting new products to the EU in 2016 would have been 5%higher if there had been a Remain vote,the paper finds.It is hard to know what those firms that decided against producing for the EU did instead.The research finds little evidence,however,that they have lived up to the hopes of Brexiteers and boosted their exports to fast-growing non-EU markets.Some may have tried to sell more within Britain.Businesses may have only temporarily scaled down their production of exports for the EU.Normal service could resume ifBritain negotiates a good trade deal.But some damage is already done.The paper's results imply that in 2016 Britain lost some~lbn（$1.3bn）of exports to the EU because of the mere threat of higher tariffs.The long-term impact will be greater.Some of the firms dissuaded from exporting would have turned into big beasts.The referendum was only halfway through 2016,and the paper does not analyse data after that year.Meanwhile,Brexit uncertainty continues to rise.
What's the main idea of the text?A.Brexit uncertainry has already damaged Britain's exporters.
B.Measures to deal with the impact led by Brexit uncertainty.
C.British business export to EU has dramatically decreased.
D.Uncertaintv means more export tariffs to a large extent.
考题
Text4 Most forecasts suggest that Britain will be a poorer country afier Brexit,largely because trading with the European Union will become more difficult.Such predictions about the distant future are,by their nature,open to doubt,which is partly why Brexit's proponents feel free to dismiss them.But the same does not apply to a new paper by Meredith Crowley,Oliver Exton and Lu Han from Cambridge University,which suggests that,months before Brexit has even happened,trade is already suffering,as firms respond to the prospect of higher tariffs.More than 100,000 British businesses export goods to the EU each year.At present they enjoy tariff-free trade with the country's biggest export market.But all face uncertainty as Britain negotiates a new trading relationship with Brussels.Some fear disaster if the talks break down.British carmakers could face a l0%tanff to export to the EU market.Dairies might have to pay tariffs of more than 30%.These extra costs could make exporting uneconomic.The Cambridge paper looks at the exporting decisions of British firms,across 8,000 types of product,in response to the tariffs that Britain would face in the event of reaching no trade deal with the EU.Where necessary,they adjust their calculations to take account of exchange-rate fluctvations.Since the referendum many companies appear to have reduced their exports to the EU.The research suggests that the bigger the potential tariff facing a product,the more nervous:firms are about exporting it.Why risk producing for a market that could soon become unwelcoming?Overall,the number of companies that began exporting new products to the EU in 2016 would have been 5%higher if there had been a Remain vote,the paper finds.It is hard to know what those firms that decided against producing for the EU did instead.The research finds little evidence,however,that they have lived up to the hopes of Brexiteers and boosted their exports to fast-growing non-EU markets.Some may have tried to sell more within Britain.Businesses may have only temporarily scaled down their production of exports for the EU.Normal service could resume ifBritain negotiates a good trade deal.But some damage is already done.The paper's results imply that in 2016 Britain lost some~lbn（$1.3bn）of exports to the EU because of the mere threat of higher tariffs.The long-term impact will be greater.Some of the firms dissuaded from exporting would have turned into big beasts.The referendum was only halfway through 2016,and the paper does not analyse data after that year.Meanwhile,Brexit uncertainty continues to rise.
We may learn from the paper that______A.it focuses on Britain's exporting decisions
B.the higher the tariffs,the less exporters
C.Remain vote may promote export to EU
D.hopes ofBrexiteers are quickly fading
考题
资料：Seeking to end a stalemate in negotiations over her country’s withdrawal from the European Union, Prime Minister Theresa May of Britain offered Friday substantial payments to the bloc during a two-year transition period immediately after the country’s exit.
Mrs. May’s long-awaited intervention, during a speech in Florence, Italy, was being watched closely in capitals on the Continent and in London, where members of her cabinet have been fiercely divided over Britain’s tortuous divorce from the bloc. The speech aimed to open the way to serious negotiations on what is commonly known as Brexit, and to a broader and more productive discussion about Britain’s relationship with the bloc.
However, while offering some concessions designed to do that, Mrs. May did not give any fresh insight into the type of ties she ultimately wants Britain to have to the bloc-a question that divides her cabinet and her Conservative, or Tory, Party.
The European Union’s chief negotiators, Michel Barnier, issued a cautious response, saying in a statement that, “We look forward to the United Kingdom’s negotiators explaining the concrete implications of Prime Minister Theresa May’s speech. Our ambition is to find a rapid agreement on the conditions of the United Kingdom’s orderly withdrawal, as well as on a possible transition period.”
Although Britain is scheduled to exit the European Union in 2019, there has been little progress in talks since March, when London formally announced its intention to leave. Brussels is insisting that Britain agree to the terms of the divorce before discussing future trade ties, while the British would like to do both simultaneously.
In light of the continuing standoff, many business worry about a “cliff edge” scenario, in which Britain would crash out without a deal, so Mrs. May is under pressure to find a way out of the impasses. Speaking in Florence on Friday, Mrs. May did not say precisely how much money Britain would continue to contribute to the European Union. But she made a significant promise that the British-who are big net contributors to the bloc-would not leave a hole in the union’s budget in 2019 and 2020.
“I do not want our partners to fear that they will need to pay more or receive less over the remainder of the current budget plan as a result of our decision to leave.” Mrs. May said. That would probably mean payments of around 20 billion euros, or about $24 billion, after Britain’s departure. It would also effectively maintain the state quo for the duration of a two-year transition period, meaning that Britain would allow the free movement of European workers and accept rulings from the European Court of Justice. This alone is unlikely to be enough to satisfy the 27 other member nations, but Mrs. May hinted that she would be willing to go further and “honor commitments we have made during the period of our membership.”
In addition, Mrs. May proposed a security partnership with the European Union, stressing Britain’s importance as a defense power, and also offered new legal safeguards to guarantee the rights of European Union citizens in Britain after Brexit.
Over all, Mrs. May sought to stress the common interest London shares with continental European capitals in reaching an agreement and avoiding disruption to trade, wrapping her odder in dialogue that was more positive, and less antagonistic, than that of some previous interventions.
European Union negotiators have refused to talk about post-Brexit ties until they judge that there is “sufficient progress” on the issues they consider a priority. the states of European Union citizens in Britain after it leaves, the border between Ireland and Northern Ireland(which is a part of the United Kingdom)and Britain’s financial commitments to the bloc.
There is little sign yet that the other 27 nations are prepared to grant Britain a bespoke agreement, and officials have warned London on numerous occasions that there would be no “cherry picking” of the parts of European Union membership it likes.
According to the passage, which of the A.Britain has agreed to discuss the conditions of the exit before discussing the future trade ties.
B.Theresa May has mapped out the blue print of the relations between Britain and EU.
C.EU might not be satisfied with May’s Speech.
D.Britain is fully prepared to withdraw from EU in an orderly way.
考题
资料：Italy's next government, a coalition between the populistFive Star Movement and the far-right Northern League, is giving investors plenty to worry about. Leaked plans, hastily abandoned, suggested it might want to leave the euro or ask the European Central Bank to forgive €250bn（$292bn） of Italian debt. But less attention has been paid to what it might mean for Italian banks, and in particular for their biggest burden: non-performing loans（NPLs）. Over €185bn of NPLs were outstanding at the end of 2017, the most for any country in the European Union. （1）
By comparison with Greece where NPLs are 45% of loans, Italy looks manageable with just 11.1%. And it has made progress: in late 2015 NPLs were 16.8% of loans. But any wild policy lurches would put that progress in question. The clean-up of banks’ books has relied on openness to foreign investors. Huge volumes of NPLs（€37bn in 2016 and over €47bn in 2017, according to Deloitte, a consultancy） have been sold by banks, often to specialist American hedge funds like Cerberus Capital Management or Fortress. （2）
These so-called vulture funds may find life harder under the new government. Given the importance of being able to repossess the collateral for secured loans, NPL investors have been taken aback by a proposal to prevent any action against a debtor without the involvement of a court. This would run counter to efforts to increase the use of out-of-court settlement for collateral across the EU. （3）
The future of GACS, a scheme for providing an Italian government guarantee to the senior tranches of NPL securitisations （with the EU's blessing）, is also in question. Despite a slow start in 2016, it has come to play a large role. An NPL sale last year by UniCredit, a large bank, worth€l7.7bn, was subject to the scheme. Another €38bn-worh of Italian NPL deals in progress will be too, according to Debtwire, a news service. But investors now worry that GACS will not be renewed once it expires失效 in September, contrary to previous plans. （4）
European regulators have made a concerted effort to deal with NPLs. In March the European Commission proposed laws to make cross-border operations easier for debt （5）
Markets have deepened in tandem. As well as the specialist funds doing large deals,more options for trading NPLs have emerged. One example is Debitos, a trading platform that started in Germany and that allows investors to trade in NPLs from 11 European countries, including Italy and Greece. Most of its sales are between €50m and €200m and interest often comes from local investors, says Timur Peters, its founder—for example, from individuals who buy property—backed NPLs as a way to acquire those properties. （6）
A liquid pan-European market in NPLs ought to prevent banks’ bad loans from accumulating and threatening their stability, as during the most recent crisis. But Italy would, because of its sheer size, be the largest source of such loans for the foreseeable future. And any market with real doubts about the largest supplier is almost certain to be a stunted one. （7）
Which of the following goes against the interest of investors of NPLs?A.The increasing use of out-of-court settlement for collateral across the EU.
B.The GACS which may not be renewed after September.
C.The new trading platform for trading NPLs.
D.The laws that guarantee cross-border operations.
考题
资料：Seeking to end a stalemate in negotiations over her country’s withdrawal from the European Union, Prime Minister Theresa May of Britain offered Friday substantial payments to the bloc during a two-year transition period immediately after the country’s exit.
Mrs. May’s long-awaited intervention, during a speech in Florence, Italy, was being watched closely in capitals on the Continent and in London, where members of her cabinet have been fiercely divided over Britain’s tortuous divorce from the bloc. The speech aimed to open the way to serious negotiations on what is commonly known as Brexit, and to a broader and more productive discussion about Britain’s relationship with the bloc.
However, while offering some concessions designed to do that, Mrs. May did not give any fresh insight into the type of ties she ultimately wants Britain to have to the bloc-a question that divides her cabinet and her Conservative, or Tory, Party.
The European Union’s chief negotiators, Michel Barnier, issued a cautious response, saying in a statement that, “We look forward to the United Kingdom’s negotiators explaining the concrete implications of Prime Minister Theresa May’s speech. Our ambition is to find a rapid agreement on the conditions of the United Kingdom’s orderly withdrawal, as well as on a possible transition period.”
Although Britain is scheduled to exit the European Union in 2019, there has been little progress in talks since March, when London formally announced its intention to leave. Brussels is insisting that Britain agree to the terms of the divorce before discussing future trade ties, while the British would like to do both simultaneously.
In light of the continuing standoff, many business worry about a “cliff edge” scenario, in which Britain would crash out without a deal, so Mrs. May is under pressure to find a way out of the impasses. Speaking in Florence on Friday, Mrs. May did not say precisely how much money Britain would continue to contribute to the European Union. But she made a significant promise that the British-who are big net contributors to the bloc-would not leave a hole in the union’s budget in 2019 and 2020.
“I do not want our partners to fear that they will need to pay more or receive less over the remainder of the current budget plan as a result of our decision to leave.” Mrs. May said. That would probably mean payments of around 20 billion euros, or about $24 billion, after Britain’s departure. It would also effectively maintain the state quo for the duration of a two-year transition period, meaning that Britain would allow the free movement of European workers and accept rulings from the European Court of Justice. This alone is unlikely to be enough to satisfy the 27 other member nations, but Mrs. May hinted that she would be willing to go further and “honor commitments we have made during the period of our membership.”
In addition, Mrs. May proposed a security partnership with the European Union, stressing Britain’s importance as a defense power, and also offered new legal safeguards to guarantee the rights of European Union citizens in Britain after Brexit.
Over all, Mrs. May sought to stress the common interest London shares with continental European capitals in reaching an agreement and avoiding disruption to trade, wrapping her odder in dialogue that was more positive, and less antagonistic, than that of some previous interventions.
European Union negotiators have refused to talk about post-Brexit ties until they judge that there is “sufficient progress” on the issues they consider a priority. the states of European Union citizens in Britain after it leaves, the border between Ireland and Northern Ireland(which is a part of the United Kingdom)and Britain’s financial commitments to the bloc.
There is little sign yet that the other 27 nations are prepared to grant Britain a bespoke agreement, and officials have warned London on numerous occasions that there would be no “cherry picking” of the parts of European Union membership it likes.
There’s a stalemate between EU and BrA.The two sides have not reached an agreement on conditions of Britain’s orderly exit.
B.Britain refuses to fill the financial bole of the EU.
C.British People are divided on the issue of Brexit.
D.EU does not want Britain to exit from it.
考题
资料：Seeking to end a stalemate in negotiations over her country’s withdrawal from the European Union, Prime Minister Theresa May of Britain offered Friday substantial payments to the bloc during a two-year transition period immediately after the country’s exit.
Mrs. May’s long-awaited intervention, during a speech in Florence, Italy, was being watched closely in capitals on the Continent and in London, where members of her cabinet have been fiercely divided over Britain’s tortuous divorce from the bloc. The speech aimed to open the way to serious negotiations on what is commonly known as Brexit, and to a broader and more productive discussion about Britain’s relationship with the bloc.
However, while offering some concessions designed to do that, Mrs. May did not give any fresh insight into the type of ties she ultimately wants Britain to have to the bloc-a question that divides her cabinet and her Conservative, or Tory, Party.
The European Union’s chief negotiators, Michel Barnier, issued a cautious response, saying in a statement that, “We look forward to the United Kingdom’s negotiators explaining the concrete implications of Prime Minister Theresa May’s speech. Our ambition is to find a rapid agreement on the conditions of the United Kingdom’s orderly withdrawal, as well as on a possible transition period.”
Although Britain is scheduled to exit the European Union in 2019, there has been little progress in talks since March, when London formally announced its intention to leave. Brussels is insisting that Britain agree to the terms of the divorce before discussing future trade ties, while the British would like to do both simultaneously.
In light of the continuing standoff, many business worry about a “cliff edge” scenario, in which Britain would crash out without a deal, so Mrs. May is under pressure to find a way out of the impasses. Speaking in Florence on Friday, Mrs. May did not say precisely how much money Britain would continue to contribute to the European Union. But she made a significant promise that the British-who are big net contributors to the bloc-would not leave a hole in the union’s budget in 2019 and 2020.
“I do not want our partners to fear that they will need to pay more or receive less over the remainder of the current budget plan as a result of our decision to leave.” Mrs. May said. That would probably mean payments of around 20 billion euros, or about $24 billion, after Britain’s departure. It would also effectively maintain the state quo for the duration of a two-year transition period, meaning that Britain would allow the free movement of European workers and accept rulings from the European Court of Justice. This alone is unlikely to be enough to satisfy the 27 other member nations, but Mrs. May hinted that she would be willing to go further and “honor commitments we have made during the period of our membership.”
In addition, Mrs. May proposed a security partnership with the European Union, stressing Britain’s importance as a defense power, and also offered new legal safeguards to guarantee the rights of European Union citizens in Britain after Brexit.
Over all, Mrs. May sought to stress the common interest London shares with continental European capitals in reaching an agreement and avoiding disruption to trade, wrapping her odder in dialogue that was more positive, and less antagonistic, than that of some previous interventions.
European Union negotiators have refused to talk about post-Brexit ties until they judge that there is “sufficient progress” on the issues they consider a priority. the states of European Union citizens in Britain after it leaves, the border between Ireland and Northern Ireland(which is a part of the United Kingdom)and Britain’s financial commitments to the bloc.
There is little sign yet that the other 27 nations are prepared to grant Britain a bespoke agreement, and officials have warned London on numerous occasions that there would be no “cherry picking” of the parts of European Union membership it likes.
What’s the purpose of May’s speech?( A.To demonstrate her resolve to divorce Britain from EU.
B.To pave the way for dialogues and negotiations with EU on Brexit.
C.To comfort the sentiment of British people.
D.To end the division between her cabinet and the Conservative Party.
考题
资料：Seeking to end a stalemate in negotiations over her country’s withdrawal from the European Union, Prime Minister Theresa May of Britain offered Friday substantial payments to the bloc during a two-year transition period immediately after the country’s exit.
Mrs. May’s long-awaited intervention, during a speech in Florence, Italy, was being watched closely in capitals on the Continent and in London, where members of her cabinet have been fiercely divided over Britain’s tortuous divorce from the bloc. The speech aimed to open the way to serious negotiations on what is commonly known as Brexit, and to a broader and more productive discussion about Britain’s relationship with the bloc.
However, while offering some concessions designed to do that, Mrs. May did not give any fresh insight into the type of ties she ultimately wants Britain to have to the bloc-a question that divides her cabinet and her Conservative, or Tory, Party.
The European Union’s chief negotiators, Michel Barnier, issued a cautious response, saying in a statement that, “We look forward to the United Kingdom’s negotiators explaining the concrete implications of Prime Minister Theresa May’s speech. Our ambition is to find a rapid agreement on the conditions of the United Kingdom’s orderly withdrawal, as well as on a possible transition period.”
Although Britain is scheduled to exit the European Union in 2019, there has been little progress in talks since March, when London formally announced its intention to leave. Brussels is insisting that Britain agree to the terms of the divorce before discussing future trade ties, while the British would like to do both simultaneously.
In light of the continuing standoff, many business worry about a “cliff edge” scenario, in which Britain would crash out without a deal, so Mrs. May is under pressure to find a way out of the impasses. Speaking in Florence on Friday, Mrs. May did not say precisely how much money Britain would continue to contribute to the European Union. But she made a significant promise that the British-who are big net contributors to the bloc-would not leave a hole in the union’s budget in 2019 and 2020.
“I do not want our partners to fear that they will need to pay more or receive less over the remainder of the current budget plan as a result of our decision to leave.” Mrs. May said. That would probably mean payments of around 20 billion euros, or about $24 billion, after Britain’s departure. It would also effectively maintain the state quo for the duration of a two-year transition period, meaning that Britain would allow the free movement of European workers and accept rulings from the European Court of Justice. This alone is unlikely to be enough to satisfy the 27 other member nations, but Mrs. May hinted that she would be willing to go further and “honor commitments we have made during the period of our membership.”
In addition, Mrs. May proposed a security partnership with the European Union, stressing Britain’s importance as a defense power, and also offered new legal safeguards to guarantee the rights of European Union citizens in Britain after Brexit.
Over all, Mrs. May sought to stress the common interest London shares with continental European capitals in reaching an agreement and avoiding disruption to trade, wrapping her odder in dialogue that was more positive, and less antagonistic, than that of some previous interventions.
European Union negotiators have refused to talk about post-Brexit ties until they judge that there is “sufficient progress” on the issues they consider a priority. the states of European Union citizens in Britain after it leaves, the border between Ireland and Northern Ireland(which is a part of the United Kingdom)and Britain’s financial commitments to the bloc.
There is little sign yet that the other 27 nations are prepared to grant Britain a bespoke agreement, and officials have warned London on numerous occasions that there would be no “cherry picking” of the parts of European Union membership it likes.
Theresa May’s speech mentioned the foA.The rights of EU’s citizens will be protected in Britain after the divorce.
B.Britain would be willing to continue to fulfill the commitment they have made during the period of membership.
C.A good trade relation between Britain and the EU is in line with the interests of both sides.
D.Britain will provide 20 billion euros to EU during the transition period.
考题
资料：Business,academic and civic leaders in Cambridge have warned that one of Britain’s major economic growth cities is under threat unless the government acts quickly to restore trust post-Brexit.
Company executives and educationists report some highly skilled foreign nationals quitting or refusing to commit to new jobs in Britain because of uncertainty over their future legal status here.It has in the past boasted of creating employment faster than China,amid a boom in the technology and bioscience sectors,which led to the city being labelled”Sillicon fen”,but now there are fears of a big slowdown.
“This is a unique economic asset for Europe,”said Lord Lansley,the former Conservation MP for South Cambridgeshire, after a specially convened meeting to discuss the problems with local politicians and others.”There is a [ political]vacuum out there and there does not seem to be a [ post Brexit] plan.There are things we need and if we get them we can continue to prosper and be more successful”,Lansley added.
He has drawn up a Cambridge declaration with his colleagues meant to reassure existing academic and business staff from abroad that their presence will be protected .”We are committed to international collaboration in research,science and the exploitation of innovative,knowledge-intensive enterprises,”says the document.
Lansley says he will be pushing the British government to give acquired rights to the 9,000 European citizens living in the East Anglian city out of a total population of 124,000.He also wants to see a continuation of free labour movement to allow Europeans to come to work and study in Cambridge and says”We need free movement for them to come to work and to study here.”
Why do these skilled foreign nationals choose not to work in Britain?A.Because of the uncertainty
B.Because the economic slowdown after Britian leaving the EU
C.Because the increasing,difficulty of finding of finding a job in Britain
D.Because they may lose legal status after Brexit
考题
资料：Italy's next government, a coalition between the populistFive Star Movement and the far-right Northern League, is giving investors plenty to worry about. Leaked plans, hastily abandoned, suggested it might want to leave the euro or ask the European Central Bank to forgive €250bn（$292bn） of Italian debt. But less attention has been paid to what it might mean for Italian banks, and in particular for their biggest burden: non-performing loans（NPLs）. Over €185bn of NPLs were outstanding at the end of 2017, the most for any country in the European Union. （1）
By comparison with Greece where NPLs are 45% of loans, Italy looks manageable with just 11.1%. And it has made progress: in late 2015 NPLs were 16.8% of loans. But any wild policy lurches would put that progress in question. The clean-up of banks’ books has relied on openness to foreign investors. Huge volumes of NPLs（€37bn in 2016 and over €47bn in 2017, according to Deloitte, a consultancy） have been sold by banks, often to specialist American hedge funds like Cerberus Capital Management or Fortress. （2）
These so-called vulture funds may find life harder under the new government. Given the importance of being able to repossess the collateral for secured loans, NPL investors have been taken aback by a proposal to prevent any action against a debtor without the involvement of a court. This would run counter to efforts to increase the use of out-of-court settlement for collateral across the EU. （3）
The future of GACS, a scheme for providing an Italian government guarantee to the senior tranches of NPL securitisations （with the EU's blessing）, is also in question. Despite a slow start in 2016, it has come to play a large role. An NPL sale last year by UniCredit, a large bank, worth€l7.7bn, was subject to the scheme. Another €38bn-worh of Italian NPL deals in progress will be too, according to Debtwire, a news service. But investors now worry that GACS will not be renewed once it expires失效 in September, contrary to previous plans. （4）
European regulators have made a concerted effort to deal with NPLs. In March the European Commission proposed laws to make cross-border operations easier for debt （5）
Markets have deepened in tandem. As well as the specialist funds doing large deals,more options for trading NPLs have emerged. One example is Debitos, a trading platform that started in Germany and that allows investors to trade in NPLs from 11 European countries, including Italy and Greece. Most of its sales are between €50m and €200m and interest often comes from local investors, says Timur Peters, its founder—for example, from individuals who buy property—backed NPLs as a way to acquire those properties. （6）
A liquid pan-European market in NPLs ought to prevent banks’ bad loans from accumulating and threatening their stability, as during the most recent crisis. But Italy would, because of its sheer size, be the largest source of such loans for the foreseeable future. And any market with real doubts about the largest supplier is almost certain to be a stunted one. （7）
Which is incorrect about the chart?A.The total loans of Italy were about €1667bn in the year of 2017.
B.The proportion of the NPLs in total loans of Greece is the highest among all.
C.Greece had much more total loans than that of Spain in spite of lower NPLs.
D.France had most total loans in the list of about €4350bn in 2017.
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There’s a stalemate between EU and Britain after Brexit because( ) A.the two sides have not reached an agreement on conditions of Britain’s orderly exit
B.British people are divided on the issue of Brexit
C.Britain refuses to fill the financial hole of the EU
D.EU does not want Britain to exit from it
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Which of the following is not true of Britain.s foreign trade?（）AThe value of Britain.s exports of goods usually exceeds the value of its imports.BThe value of Britain.s imports of goods usually exceeds the value of its exports.CManufactured goods now account for about 85%of British imports and about 80%of its exports.DMost of the United Kingdom.s trade is with other developed countries,especially other members of the European Union.
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Which of the following is not true of the European Union?（）AThe United States is also a member of the EU.BThe members of the EU cooperate in many areas,including politics and economics.CThe EU is a major economic unit.DThe combined value of the union.s imports and exports is greater than that of any single country in the world.
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At present, the most important thing is that Britain needs（）more to improve the relationship with the USAAto doBdoingCto be doneDdo
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At present, the most important thing is that Britain needs（）more to improve the relationship with the USAA、to doB、doingC、to be doneD、do
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Which of the following is not true of Britain.s foreign trade?（）A、The value of Britain.s exports of goods usually exceeds the value of its imports.B、The value of Britain.s imports of goods usually exceeds the value of its exports.C、Manufactured goods now account for about 85%of British imports and about 80%of its exports.D、Most of the United Kingdom.s trade is with other developed countries,especially other members of the European Union.
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问答题Practice 9 Youth unemployment across the world has climbed to a new high and is likely to climb further this year, a United Nations agency said Thursday, while warning of a “lost generation” as more young people give up the search for work. The agency, the International Labor Organization, said in a report that of some 620 million young people ages 15 to 24 in the work force, about 81 million were unemployed at the end of 2009—the highest level in two decades of record-keeping by the organization, which is based in Geneva. “There’s never been an increase of this magnitude — both in terms of the rate and the level — since we’ve been tracking the data,” said Steven Kapsos, an economist with the organization. The agency forecast that the global youth unemployment rate would continue to increase through 2010, to 13.1 percent, as the effects of the economic downturn continue. It should then decline to 12.7 percent in 2011. In some especially strained European countries, including Spain and Britain, many young people have become discouraged and given up the job hunt, it said. The trend will have “significant consequences for young people,” as more and more join the ranks of the already unemployed, it said. That has the potential to create a “‘lost generation’ comprised of young people who have dropped out of the labor market, having lost all hope of being able to work for a decent living.” The report studied the German, British, Spanish and Estonian labor markets and found that Germany had been most successful in bringing down long-term youth unemployment. In Spain and Britain, increases in unemployment were particularly pronounced for those with lower education levels. Data from Eurostat, the European Union’s statistical agency, show Spain had a jobless rate of 40.5 percent in May for people under 25. That was the highest level among the 27 members of the European Union, far greater than the 9.4 percent in Germany in May and 19.7 percent in Britain in March.
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单选题What do Americans think the relationship between their children and the future of the America is?A
Their future rests on how their children become.B
Their children can’t shape their future because they can’t affect their children’s development through education.C
If the children turn out to be useless, they won’t have any better future than the Soviet Union.D
The changes in education aim to make the American children better prepared for the new world order.
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问答题For a glimpse of the future of advertising, the place to look appears to be Britain. The country is a “test bed” according to Mr. Schmidt, Chief Executive of Google. Why Britain? The country has several factors in its favor. For a start, the British online advertising market is “exploding”, said Mr. Schmidt. The internet accounts for 14% of companies’ total spending on advertising in Britain, compared with about 50% worldwide. Expenditure on internet advertising in America is similar to that in Britain, but Britain’s growth rates are slightly higher.
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问答题Holland is a tiny country. It has no more than 200 miles long and just 1．____over 150 miles wide. Yet in the 1600s, this small nation in the North 2．____Sea was a great sea power. Her more than 10,000 ships went to all part 3．____of the world. Today there are many ways for passengers and with cargo 4．____to travel. But once, if you have to go to a country across the ocean or 5．____send a cargo over the seas, you had only one choice: the sailing ship.In the 1600s, Dutch made a ship called a flyboat. It was a slow, 6．____clumsy boat, but it could carry a lot of cargo. Since the Dutchcould carry most cargo, they could do more trading. Trading 7．____brought against the building of new colonies. It was not long before 8．____there were Dutch colonies in the Americas, in Africa, in the WestIndia, and in the East India. The great city of the New York began 9．____as the Dutch colony New Amsterdam. The Dutch used the seas tobecome a great trading nation. They also used the seas to become agreat power in the world. Dutch ships helped Holland ruled other 10．____lands for more than 200 years.
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填空题Google can’t claim victory because the European Union needs to sign off on the merge.____
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单选题Which of the following is not true of Britain.s foreign trade?（）A
The value of Britain.s exports of goods usually exceeds the value of its imports.B
The value of Britain.s imports of goods usually exceeds the value of its exports.C
Manufactured goods now account for about 85%of British imports and about 80%of its exports.D
Most of the United Kingdom.s trade is with other developed countries,especially other members of the European Union.
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