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derya A. (Turkey)
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Full list of words from this list:

words only definitions & notes
  1. forint
    the basic unit of money in Hungary
    It seems safe to assume the Hungarian forint will start the week with a sharp lurch downwards.
  2. far-right
    extremely conservative
    Local elections are due in October, and yapping at Fidesz’s heels is Jobbik, a far-right nationalist party even less obeisant to the etiquette of international finance than Fidesz.
  3. bone of contention
    the subject of a dispute
    One bone of contention was the government’s planned windfall tax on banks and other financial institutions - from which it is hoping to raise some Ft200bn (€700m) a year over the next two years.
  4. tax hike
    the amount by which taxes are increased
    After sharp spending cuts and tax hikes, Hungary finished 2009 with a 4 per cent budget deficit, one of Europe’s lowest, and was not planning immediately to draw on its IMF/EU credit line.
  5. intransigence
    stubborn refusal to compromise or change
    One explanation for this intransigence is that Fidesz is under pressure.
  6. adversely
    in an opposing or negative manner
    The IMF called for “durable, non-distortive measures,”

    “Difficult decisions will be needed not only on the revenue side--where the high financial sector levy, which is likely to adversely affect lending and growth, is planned to be temporary—but also on the spending side.”
  7. yap
    bark in a high-pitched tone
    Local elections are due in October, and yapping at Fidesz’s heels is Jobbik, a far-right nationalist party even less obeisant to the etiquette of international finance than Fidesz.
  8. debacle
    a sudden and complete disaster
    This was their response to the debacle:

    “We can guess at the choreography that will follow from Monday: politicians, analysts and journalists serving the global financial powers will lay into the government for not giving into foreign pressure.
  9. landslide
    the descent of a large mass of dirt and rock down a slope
    The party won a landslide election victory just three months ago with promises to “save the healthcare system”, spur economic growth and, above all, cut taxes.
  10. evoke
    call forth, as an emotion, feeling, or response
    The discussions with the IMF and the EU are a key front in the fight for economic independence,” they wrote, evoking the spirit of the “fight for independence” that followed the 1848 revolution against the Hapsburgs in Vienna.
  11. levy
    impose and collect
    The IMF called for “durable, non-distortive measures,”

    “Difficult decisions will be needed not only on the revenue side--where the high financial sector levy, which is likely to adversely affect lending and growth, is planned to be temporary—but also on the spending side.”
  12. austerity
    excessive sternness
    Austerity has its limits.
  13. lurch
    move suddenly or as if unable to control one's movements
    It seems safe to assume the Hungarian forint will start the week with a sharp lurch downwards.
  14. blunt
    not sharp (used of a knife or other blade)
    In an equally blunt statement, the European Commission wondered how Hungary was going to meet its 3 per cent budget deficit target for 2011, and urged the government to review “certain features” of the bank levy.
  15. reckless
    marked by defiant disregard for danger or consequences
    From inside the country, the government feels pressure to take a bolder, even reckless, approach.
  16. obscure
    not clearly understood or expressed
    And in a world where a misspoken word by a formerly obscure town mayor in a provincial city in eastern Hungary can wipe out trillions in global asset values, it is likely the impact of this weekend’s events will make itself felt in emerging markets from Malaysia to Argentina.
  17. heel
    the back part of the human foot
    Local elections are due in October, and yapping at Fidesz’s heels is Jobbik, a far-right nationalist party even less obeisant to the etiquette of international finance than Fidesz.
  18. due
    that which is deserved or owed
    Local elections are due in October, and yapping at Fidesz’s heels is Jobbik, a far-right nationalist party even less obeisant to the etiquette of international finance than Fidesz.
Created on 七月 20, 2010

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