the Single Market

devaluation

If Europeans aren't bursting to give the single market a coming-out party,“may simply be that markets aren't the kinds of things people gush about,as EC commission president Jacques Delors has often noted. The fact that free movement of people-an aspect of the market that will be most evident to the average person——is not yet a reality also plays a role.

If Europeans aren't bursting to give the single market a coming-out party,it may simply be that markets aren't the kinds of things people gush about,as EC commission president Jacques Delors has often noted. The fact that free movement of people-an aspect of the market that will be most evident to the average person-is not yet a reality also plays a role. Another explanation is that many of the market's original 282 directives have already been implemented. “By Jan.l we will have passed 95 percent of what we sought in 1986 to create the single market,and much of that will already have been translated into national law," says Perissich.“Adjustment to the market has been going on for years and won't be expected overnight.” What does the first sentence tell us about Europeans' attitude toward the single market?

If Europeans aren't bursting to give the single market a coming-out party,it may simply be that markets aren't the kinds of things people gush about,as EC commission president Jacques Delors has often noted. The fact that free movement of people-an aspect of the market that will be most evident to the average person-is not yet a reality also plays a role. Another explanation is that many of the market's original 282 directives have already been implemented. “By Jan.l we will have passed 95 percent of what we sought in 1986 to create the single market,and much of that will already have been translated into national law," says Perissich.“Adjustment to the market has been going on for years and won't be expected overnight.” What are the reasons why Europeans don't give the single market a coming-out party?

If Europeans aren't bursting to give the single market a coming-out party,it may simply be that markets aren't the kinds of things people gush about,as EC commission president Jacques Delors has often noted. The fact that free movement of people-an aspect of the market that will be most evident to the average person-is not yet a reality also plays a role. Another explanation is that many of the market's original 282 directives have already been implemented. “By Jan.l we will have passed 95 percent of what we sought in 1986 to create the single market,and much of that will already have been translated into national law," says Perissich.“Adjustment to the market has been going on for years and won't be expected overnight.” How do you interpret in English the underlined word“translated" in the third paragraph? Please find an appropriate Chinese equivalent for it.

(What is more, currency movements over the past year have unexpectedly made matters worse for many producers. In the first half of the 1980s, it was conventional wisdom to say that the exceptional strength of the dollar was partly responsible for- and helped to offset the increasing weakness of dollar-dominated commodity prices. All other things being equal, so the argument went, a subsequent fall in the dollar might be expected to give a compensating boost to dollar commodity prices.)What do “all other things” refer mainly to?

(What is more, currency movements over the past year have unexpectedly made matters worse for many producers. In the first half of the 1980s, it was conventional wisdom to say that the exceptional strength of the dollar was partly responsible for- and helped to offset the increasing weakness of dollar-dominated commodity prices. All other things being equal, so the argument went, a subsequent fall in the dollar might be expected to give a compensating boost to dollar commodity prices.)What was the “fall in the dollar” subsequent to?

(What is more, currency movements over the past year have unexpectedly made matters worse for many producers. In the first half of the 1980s, it was conventional wisdom to say that the exceptional strength of the dollar was partly responsible for- and helped to offset the increasing weakness of dollar-dominated commodity prices. All other things being equal, so the argument went, a subsequent fall in the dollar might be expected to give a compensating boost to dollar commodity prices.)Why should the “boost” have been a compensating one?

Having argued that criticism of the trade surplus is misconceived,MITI's paper goes on to predict that the surplus will,of its own accord,gradually diminish in size and relevance. ( )