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Lesson 2. Crisis on a global scale
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Discussion
Discuss the following quotations with a partner.
1) “Any idiot can face a crisis – it’s this day-to-day living that wears you out.” Anton Chekhov.
2) “When written in Chinese the word crisis is composed of two characters. One represents danger and the other represents opportunity.” John F. Kennedy.
1. Before you read the text below, make sure you know the following words and word-combinations.
| - recession - risk management - economic fluctuations - downturn - the Great Depression - free and unfettered markets - to impede - to keep inflation low - to be foreclosed upon - foreclosure - mortgage - unemployment benefit - to lay off - tax revenues - to plummet - to be in freefall - stock market crash - credit crunch - housing slump - housing bubble - wishful thinking - subprime market - to plunge - CEO | - real estate - to go bankrupt - living standard - financially illiterate - ATM - to put up for auction - to touch a raw nerve - executives - to take a wage cut - to bring smth. to the brink of financial ruin - bailout (v., n.) - to undersupply - public goods - competitive - to cook the books - nefarious - money laundering - tax evasion - a new global financial order - to abscond - offshore (adj.) - assets |
Дата публикования: 2014-12-28; Прочитано: 297 | Нарушение авторского права страницы | Мы поможем в написании вашей работы!
