Final Word from Wednesday, June 6, 2012

The end of the European Union (Frankfurter Allgemeine Zeitung). Athens scrambles as coffers go bare (International Herald Tribune). Spain makes its most explicit plea yet for European institutions to recapitalize its banks (Financial Times). Moody's lowers its credit ratings for Commerzbank and five other German banks, as well as the three largest Austrian banking groups, Erste Group, UniCredit Bank Austria and Raiffeisen Bank Int. (Handelsblatt). The Federal Reserve considers more action amid new doubts about an economic recovery (Wall Street Journal Europe). The latest plan of George Osborne, U.K. chancellor of the exchequer, is to ask Britain's savers to buy "growth bonds" to fund billions of pounds in infrastructure investments (The Independent). David Rath speaks of a conspiracy and of "money for the elections" (MF Dnes). David Rath calls himself an ant (Pražský deník).[Czech Republic EU MFD FT WSJE IHT FAZ United Kingdom]

Glossary of difficult words

to scramble - to perform an action in a hurried or clumsy way or with difficulty;

coffers - the funds or financial reserves of a group or institution;

amid - in an atmosphere of;

exchequer - a royal or national treasury.


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