article on Greek politics

edward A.
http://www.reuters.com/article/2011/06/29/us-greece-vote-view-idUSTRE75S3BX20110629
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words only definitions & notes
  1. leister
    a spear with three or more prongs; used for spearing fish
    MICHAEL LEISTER, RATE STRATEGIST, WEST LB

    "The question now is what is the outlook for the near term.
  2. firm up
    arrange firmly
    "I think markets are under the assumption now that the implementation vote will be firmed up later this afternoon."
  3. peter
    obscene term for penis
    PETER CHATWELL, RATE STRATEGIST, CREDIT AGRICOLE CIB

    "There is still event risk to position for - tomorrow's vote on the technical aspects of the austerity for one - and thus investors are probably reluctant to be positioned toward the risky end
  4. turner
    a lathe operator
    CHRIS TURNER, HEAD OF FX STRATEGY AT ING

    "The markets were positioned for this, so on an intra-day basis, we will see some profit taking in the euro/dollar and the euro/Swiss franc.
  5. restructure
    construct or form anew or provide with a new structure
    "Ultimately there's going to be an orderly restructuring where Europe will issue a certain number of Brady-like bonds.
  6. hurdle
    a light barrier that competitors must leap over in races
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  7. strategist
    an expert in systematic plans of action
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  8. john
    a room or building equipped with one or more toilets
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  9. Swiss franc
    the basic unit of money in Switzerland
    CHRIS TURNER, HEAD OF FX STRATEGY AT ING

    "The markets were positioned for this, so on an intra-day basis, we will see some profit taking in the euro/dollar and the euro/Swiss franc.
  10. leu
    the basic unit of money in Romania
    KOEN DE LEUS, STRATEGIST AT KBC SECURITIES, BRUSSELS

    "I don't see how the current government can implement the required measures to meet the bailout conditionalities.
  11. vicious circle
    an argument that assumes that which is to be proved
    So additional measures will have to be taken again, which creates a vicious circle for growth and an ever rising debt.
  12. implementation
    the act of providing a means for accomplishing something
    "I think markets are under the assumption now that the implementation vote will be firmed up later this afternoon."
  13. handily
    in a convenient manner
    CARY LEAHEY, ECONOMIST AND MANAGING DIRECTOR AT DECISION ECONOMICS IN NEW YORK:

    "It's a positive development for the equity market and for the euro, particularly since it passed relatively handily.
  14. default
    an option that is selected automatically
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  15. haircut
    the act of cutting the hair
    There will be some 'haircuts.'
  16. euro
    the basic monetary unit of most members of the European Union (introduced in 1999); in 2002 twelve European nations (Germany, France, Belgium, Luxembourg, the Netherlands, Italy, Spain, Portugal, Ireland, Greece, Austria, Finland) adopted the euro as their basic unit of money and abandoned their traditional currencies
    CARY LEAHEY, ECONOMIST AND MANAGING DIRECTOR AT DECISION ECONOMICS IN NEW YORK:

    "It's a positive development for the equity market and for the euro, particularly since it passed relatively handily.
  17. paring
    a thin fragment or slice that has been shaved from something
    PHILIPPE GIJSELS, HEAD OF RESEARCH AT BNP PARIBAS FORTIS GLOBAL MARKETS, BRUSSELS

    "We can even talk about a 'buy the rumor, sell the news' kind of reaction as risky assets are paring their gains.
  18. austerity
    excessive sternness
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  19. managing director
    someone who controls resources and expenditures
    CARY LEAHEY, ECONOMIST AND MANAGING DIRECTOR AT DECISION ECONOMICS IN NEW YORK:

    "It's a positive development for the equity market and for the euro, particularly since it passed relatively handily.
  20. hang in
    be persistent, refuse to stop
    The German population's willingness to support far less productive neighbors still hangs in the balance."
  21. rumor
    gossip passed around by word of mouth
    PHILIPPE GIJSELS, HEAD OF RESEARCH AT BNP PARIBAS FORTIS GLOBAL MARKETS, BRUSSELS

    "We can even talk about a 'buy the rumor, sell the news' kind of reaction as risky assets are paring their gains.
  22. implement
    a piece of equipment or a tool used for a specific purpose
    We still have Thursday's vote on specific legislation to implement the plan.
  23. fed up
    thoroughly disgusted with or annoyed at something
    "At the end everybody will be fed up, the protests of the population will even go louder, there will be a change of government and Greece will default and restructure.
  24. jersey
    a slightly elastic machine-knit fabric
    JURGEN ODENIUS, PRINCIPAL - INTERNATIONAL ECONOMICS AND INVESTMENT STRATEGY, PRUDENTIAL FIXED INCOME, NEWARK, NEW JERSEY

    "The vote itself is a necessary for everything else.
  25. risky
    involving risk or danger
    PETER CHATWELL, RATE STRATEGIST, CREDIT AGRICOLE CIB

    "There is still event risk to position for - tomorrow's vote on the technical aspects of the austerity for one - and thus investors are probably reluctant to be positioned toward the risky end of the spectrum."
  26. fall off
    come off
    It removes the worst-case scenario for the euro, although it's highly unlikely Greece will fall off the radar.
  27. tomorrow
    the day after today
    PETER CHATWELL, RATE STRATEGIST, CREDIT AGRICOLE CIB

    "There is still event risk to position for - tomorrow's vote on the technical aspects of the austerity for one - and thus investors are probably reluctant to be positioned toward the risky end of the spectrum."
  28. pare
    strip the skin off
    PHILIPPE GIJSELS, HEAD OF RESEARCH AT BNP PARIBAS FORTIS GLOBAL MARKETS, BRUSSELS

    "We can even talk about a 'buy the rumor, sell the news' kind of reaction as risky assets are paring their gains.
  29. economics
    science dealing with the circulation of goods and services
    CARY LEAHEY, ECONOMIST AND MANAGING DIRECTOR AT DECISION ECONOMICS IN NEW YORK:

    "It's a positive development for the equity market and for the euro, particularly since it passed relatively handily.
  30. hurdles
    a footrace in which contestants must negotiate a series of hurdles
    Many hurdles are yet to be overcome.
  31. commodity
    any good that can be bought and sold
    CARSTEN FRITSCH, COMMODITIES ANALYST, COMMERZBANK,FRANKFURT:

    "Something of a 'Buy the rumor, sell the fact' correction could emerge now.
  32. bowman
    a person who is expert in the use of a bow and arrow
    KEITH BOWMAN, EQUITY ANALYST AT HARGREAVES LANSDOWN, LONDON

    "The sigh of relief already being breathed by the markets has been confirmed.
  33. equity
    the quality of being fair, reasonable, or impartial
    KEITH BOWMAN, EQUITY ANALYST AT HARGREAVES LANSDOWN, LONDON

    "The sigh of relief already being breathed by the markets has been confirmed.
  34. asset
    a useful or valuable quality
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  35. prudential
    arising from or characterized by prudence especially in business matters
    JURGEN ODENIUS, PRINCIPAL - INTERNATIONAL ECONOMICS AND INVESTMENT STRATEGY, PRUDENTIAL FIXED INCOME, NEWARK, NEW JERSEY

    "The vote itself is a necessary for everything else.
  36. analyst
    someone who is skilled at interpreting data
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  37. finance minister
    the minister responsible for state finances
    "The next hurdle is the July 3 finance ministers meeting.
  38. all in all
    with everything considered (and neglecting details)
    All in all, there should be enough votes for tomorrow."
  39. vote
    a choice made by counting people in favor of alternatives
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  40. market
    a store where groceries are sold
    "I think markets are under the assumption now that the implementation vote will be firmed up later this afternoon."
  41. bond
    a connection that fastens things together
    It might be a little negative for bonds because there probably was a little flight-to-safety trade going on.
  42. franc
    the basic monetary unit in many countries
    CHRIS TURNER, HEAD OF FX STRATEGY AT ING

    "The markets were positioned for this, so on an intra-day basis, we will see some profit taking in the euro/dollar and the euro/Swiss franc.
  43. step in
    act as a substitute
    This is logical and may continue over the next couple of hours and days as markets will quickly realize that this is only a first step in the road to recovery.
  44. scenario
    a postulated sequence of possible events
    It removes the worst-case scenario for the euro, although it's highly unlikely Greece will fall off the radar.
  45. disorderly
    lacking any regular or logical organization
    The risk of disorderly default has decreased in the near-term but overall sentiment remains very fragile."
  46. decreased
    made less in size or amount or degree
    The risk of disorderly default has decreased in the near-term but overall sentiment remains very fragile."
  47. outlook
    an attitude that determines how you respond to situations
    MICHAEL LEISTER, RATE STRATEGIST, WEST LB

    "The question now is what is the outlook for the near term.
  48. politician
    a leader engaged in civil administration
    The pressure turns back now to the EU politicians to play their part.
  49. Greece
    ancient Greece
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  50. spectrum
    a broad range of related objects, values, or qualities
    PETER CHATWELL, RATE STRATEGIST, CREDIT AGRICOLE CIB

    "There is still event risk to position for - tomorrow's vote on the technical aspects of the austerity for one - and thus investors are probably reluctant to be positioned toward the risky end of the spectrum."
  51. radar
    measuring instrument using pulses of microwave radiation
    It removes the worst-case scenario for the euro, although it's highly unlikely Greece will fall off the radar.
  52. approval
    the formal act of giving agreement or permission
    We now need to see the approval for the implementation tomorrow.
  53. volatile
    liable to lead to sudden change or violence
    We still expect a hot, nervous and volatile summer."
  54. discount
    an amount or percentage deducted
    Commodity markets have fully expected and discounted approval by the Greek parliament of these austerity measures and this has been behind a rise in oil prices today.
  55. Brady
    United States pioneer photographer famous for his portraits
    "Ultimately there's going to be an orderly restructuring where Europe will issue a certain number of Brady-like bonds.
  56. turn back
    go back to a previous state
    The pressure turns back now to the EU politicians to play their part.
  57. decrease
    a change downward
    The risk of disorderly default has decreased in the near-term but overall sentiment remains very fragile."
  58. risk
    a source of danger
    "I don't believe we'll see a massive risk rally given only one hurdle of many has been cleared.
  59. predict
    make a guess about what will happen in the future
    The vote tomorrow would be equally important, but it's harder to predict.
  60. investor
    someone who commits capital to gain financial returns
    PETER CHATWELL, RATE STRATEGIST, CREDIT AGRICOLE CIB

    "There is still event risk to position for - tomorrow's vote on the technical aspects of the austerity for one - and thus investors are probably reluctant to be positioned toward the risky end of the spectrum."
  61. IMF
    a United Nations agency to promote trade by increasing the exchange stability of the major currencies
    The European leaders and the IMF have to decide to give the 15 billion euros, part of a larger package.
  62. diminish
    decrease in size, extent, or range
    Risk aversion has diminished."
  63. correction
    the act of fixing a mistake
    CARSTEN FRITSCH, COMMODITIES ANALYST, COMMERZBANK,FRANKFURT:

    "Something of a 'Buy the rumor, sell the fact' correction could emerge now.
  64. wary
    marked by keen caution and watchful prudence
    "The markets are still very wary over the outlook for Greece.
  65. pretty much
    to some degree
    KIM RUPERT, MANAGING DIRECTOR OF GLOBAL FIXED INCOME ANALYSIS, ACTION ECONOMICS, SAN FRANCISCO:

    "It is significant but it has been pretty much priced in (to Treasuries).
  66. fragile
    easily broken or damaged or destroyed
    The risk of disorderly default has decreased in the near-term but overall sentiment remains very fragile."
  67. drop in
    visit informally and spontaneously
    "If the vote had gone the other way, I would have expected a steep drop in prices.
  68. strategy
    an elaborate and systematic plan of action
    JURGEN ODENIUS, PRINCIPAL - INTERNATIONAL ECONOMICS AND INVESTMENT STRATEGY, PRUDENTIAL FIXED INCOME, NEWARK, NEW JERSEY

    "The vote itself is a necessary for everything else.
  69. anticipate
    regard something as probable or likely
    VASSILI SEREBRIAKOV, CURRENCY STRATEGIST, WELLS FARGO, NEW YORK:

    "The decision was widely anticipated.
  70. first step
    the first of a series of actions
    This is logical and may continue over the next couple of hours and days as markets will quickly realize that this is only a first step in the road to recovery.
  71. aversion
    a feeling of intense dislike
    Risk aversion has diminished."
  72. reaction
    an idea evoked by some experience
    PHILIPPE GIJSELS, HEAD OF RESEARCH AT BNP PARIBAS FORTIS GLOBAL MARKETS, BRUSSELS

    "We can even talk about a 'buy the rumor, sell the news' kind of reaction as risky assets are paring their gains.
  73. willingness
    cheerful compliance
    The German population's willingness to support far less productive neighbors still hangs in the balance."
  74. emerge
    come out into view, as from concealment
    CARSTEN FRITSCH, COMMODITIES ANALYST, COMMERZBANK,FRANKFURT:

    "Something of a 'Buy the rumor, sell the fact' correction could emerge now.
  75. price
    the amount of money needed to purchase something
    But the price action in the euro seems to be a 'buy the rumor, sell the fact' kind of market reaction.
  76. take in
    provide with shelter
    CHRIS TURNER, HEAD OF FX STRATEGY AT ING

    "The markets were positioned for this, so on an intra-day basis, we will see some profit taking in the euro/dollar and the euro/Swiss franc.
  77. solved
    explained or answered
    Some more tough decisions need to be taken and the problems are far from solved."
  78. fix
    restore by replacing a part or putting together what is torn or broken
    KIM RUPERT, MANAGING DIRECTOR OF GLOBAL FIXED INCOME ANALYSIS, ACTION ECONOMICS, SAN FRANCISCO:

    "It is significant but it has been pretty much priced in (to Treasuries).
  79. funding
    financial resources provided to make some project possible
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  80. assumption
    the act of taking something for granted
    "I think markets are under the assumption now that the implementation vote will be firmed up later this afternoon."
  81. economist
    an expert in the circulation of goods and services
    CARY LEAHEY, ECONOMIST AND MANAGING DIRECTOR AT DECISION ECONOMICS IN NEW YORK:

    "It's a positive development for the equity market and for the euro, particularly since it passed relatively handily.
  82. measure
    determine the dimensions of something or somebody
    We would expect to see more support for the opposition on some of the smaller measures.
  83. productive
    capable of bringing forth, especially abundantly
    The German population's willingness to support far less productive neighbors still hangs in the balance."
  84. global
    involving the entire earth
    PHILIPPE GIJSELS, HEAD OF RESEARCH AT BNP PARIBAS FORTIS GLOBAL MARKETS, BRUSSELS

    "We can even talk about a 'buy the rumor, sell the news' kind of reaction as risky assets are paring their gains.
  85. reluctant
    not eager
    PETER CHATWELL, RATE STRATEGIST, CREDIT AGRICOLE CIB

    "There is still event risk to position for - tomorrow's vote on the technical aspects of the austerity for one - and thus investors are probably reluctant to be positioned toward the risky end of the spectrum."
  86. vicious
    having the nature of evildoing
    So additional measures will have to be taken again, which creates a vicious circle for growth and an ever rising debt.
  87. expect
    regard something as probable or likely
    We still expect a hot, nervous and volatile summer."
  88. orderly
    neat or organized
    "Ultimately there's going to be an orderly restructuring where Europe will issue a certain number of Brady-like bonds.
  89. investment
    laying out money or capital in an enterprise
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  90. rally
    gather or bring together
    "I don't believe we'll see a massive risk rally given only one hurdle of many has been cleared.
  91. solve
    find the answer to or understand the meaning of
    Some more tough decisions need to be taken and the problems are far from solved."
  92. winning
    succeeding with great difficulty
    "However, winning the battle is not the same as winning the war.
  93. diminished
    made to seem smaller or less, especially in worth
    Risk aversion has diminished."
  94. sell
    exchange or deliver for money or its equivalent
    PHILIPPE GIJSELS, HEAD OF RESEARCH AT BNP PARIBAS FORTIS GLOBAL MARKETS, BRUSSELS

    "We can even talk about a 'buy the rumor, sell the news' kind of reaction as risky assets are paring their gains.
  95. manage
    be in charge of, act on, or dispose of
    CARY LEAHEY, ECONOMIST AND MANAGING DIRECTOR AT DECISION ECONOMICS IN NEW YORK:

    "It's a positive development for the equity market and for the euro, particularly since it passed relatively handily.
  96. confirm
    strengthen
    KEITH BOWMAN, EQUITY ANALYST AT HARGREAVES LANSDOWN, LONDON

    "The sigh of relief already being breathed by the markets has been confirmed.
  97. positive
    characterized by or displaying affirmation or acceptance
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  98. term
    a limited period of time during which something lasts
    MICHAEL LEISTER, RATE STRATEGIST, WEST LB

    "The question now is what is the outlook for the near term.
  99. logical
    based on known statements or events or conditions
    This is logical and may continue over the next couple of hours and days as markets will quickly realize that this is only a first step in the road to recovery.
  100. decision
    a position or opinion reached after consideration
    CARY LEAHEY, ECONOMIST AND MANAGING DIRECTOR AT DECISION ECONOMICS IN NEW YORK:

    "It's a positive development for the equity market and for the euro, particularly since it passed relatively handily.
  101. couple
    two items of the same kind
    This is logical and may continue over the next couple of hours and days as markets will quickly realize that this is only a first step in the road to recovery.
  102. Greek
    of or relating to or characteristic of Greece or the Greeks or the Greek language
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  103. income
    the amount of money one makes over a period of time
    KIM RUPERT, MANAGING DIRECTOR OF GLOBAL FIXED INCOME ANALYSIS, ACTION ECONOMICS, SAN FRANCISCO:

    "It is significant but it has been pretty much priced in (to Treasuries).
  104. assets
    anything of material value owned by a person or company
    PHILIPPE GIJSELS, HEAD OF RESEARCH AT BNP PARIBAS FORTIS GLOBAL MARKETS, BRUSSELS

    "We can even talk about a 'buy the rumor, sell the news' kind of reaction as risky assets are paring their gains.
  105. profit
    the advantageous quality of being beneficial
    CHRIS TURNER, HEAD OF FX STRATEGY AT ING

    "The markets were positioned for this, so on an intra-day basis, we will see some profit taking in the euro/dollar and the euro/Swiss franc.
  106. parliamentary
    relating to or having the nature of a law-making body
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  107. Treasury
    the federal department that collects revenue and administers federal finances; the Treasury Department was created in 1789
    KIM RUPERT, MANAGING DIRECTOR OF GLOBAL FIXED INCOME ANALYSIS, ACTION ECONOMICS, SAN FRANCISCO:

    "It is significant but it has been pretty much priced in (to Treasuries).
  108. Swiss
    of or relating to Switzerland or its people or culture
    CHRIS TURNER, HEAD OF FX STRATEGY AT ING

    "The markets were positioned for this, so on an intra-day basis, we will see some profit taking in the euro/dollar and the euro/Swiss franc.
  109. overall
    involving only main features
    The risk of disorderly default has decreased in the near-term but overall sentiment remains very fragile."
  110. international
    concerning or belonging to two or more countries
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  111. clearing
    a treeless tract of land in the middle of a wooded area
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  112. unlikely
    not likely to be true or to occur or to have occurred
    It removes the worst-case scenario for the euro, although it's highly unlikely Greece will fall off the radar.
  113. package
    a wrapped container
    The European leaders and the IMF have to decide to give the 15 billion euros, part of a larger package.
  114. anticipated
    expected hopefully
    VASSILI SEREBRIAKOV, CURRENCY STRATEGIST, WELLS FARGO, NEW YORK:

    "The decision was widely anticipated.
  115. relatively
    by comparison to something else
    CARY LEAHEY, ECONOMIST AND MANAGING DIRECTOR AT DECISION ECONOMICS IN NEW YORK:

    "It's a positive development for the equity market and for the euro, particularly since it passed relatively handily.
  116. buy
    obtain by purchase
    PHILIPPE GIJSELS, HEAD OF RESEARCH AT BNP PARIBAS FORTIS GLOBAL MARKETS, BRUSSELS

    "We can even talk about a 'buy the rumor, sell the news' kind of reaction as risky assets are paring their gains.
  117. breathe
    draw air into, and expel out of, the lungs
    KEITH BOWMAN, EQUITY ANALYST AT HARGREAVES LANSDOWN, LONDON

    "The sigh of relief already being breathed by the markets has been confirmed.
  118. breathed
    uttered without voice
    KEITH BOWMAN, EQUITY ANALYST AT HARGREAVES LANSDOWN, LONDON

    "The sigh of relief already being breathed by the markets has been confirmed.
  119. technical
    of or relating to aptitude in a practical skill
    PETER CHATWELL, RATE STRATEGIST, CREDIT AGRICOLE CIB

    "There is still event risk to position for - tomorrow's vote on the technical aspects of the austerity for one - and thus investors are probably reluctant to be positioned toward the risky end of the spectrum."
  120. win
    a victory (as in a race or other competition)
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  121. negative
    characterized by denial or opposition or resistance
    It might be a little negative for bonds because there probably was a little flight-to-safety trade going on.
  122. neighbor
    a person who lives near another
    The German population's willingness to support far less productive neighbors still hangs in the balance."
  123. debt
    the state of owing something, especially money
    It takes one of the biggest policy issues off the table and turns the sovereign debt focus back to the U.S. and away from Europe."
  124. decent
    socially or conventionally correct; refined or virtuous
    We have seen equities make some pretty decent gains and bond yields rise.
  125. gain
    obtain
    PHILIPPE GIJSELS, HEAD OF RESEARCH AT BNP PARIBAS FORTIS GLOBAL MARKETS, BRUSSELS

    "We can even talk about a 'buy the rumor, sell the news' kind of reaction as risky assets are paring their gains.
  126. in particular
    specifically or especially distinguished from others
    For now, markets and European politicians in particular, can stand down.
  127. rise
    move upward
    We have seen equities make some pretty decent gains and bond yields rise.
  128. avoid
    stay away from
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  129. ultimately
    as the end result of a succession or process
    "Ultimately there's going to be an orderly restructuring where Europe will issue a certain number of Brady-like bonds.
  130. focus
    the concentration of attention or energy on something
    It takes one of the biggest policy issues off the table and turns the sovereign debt focus back to the U.S. and away from Europe."
  131. pressure
    the act of putting pressure on something
    The pressure turns back now to the EU politicians to play their part.
  132. massive
    containing a great quantity of matter
    "I don't believe we'll see a massive risk rally given only one hurdle of many has been cleared.
  133. currency
    the metal or paper medium of exchange that is presently used
    VASSILI SEREBRIAKOV, CURRENCY STRATEGIST, WELLS FARGO, NEW YORK:

    "The decision was widely anticipated.
  134. trade
    the commercial exchange of goods and services
    It might be a little negative for bonds because there probably was a little flight-to-safety trade going on.
  135. specific
    stated explicitly or in detail
    We still have Thursday's vote on specific legislation to implement the plan.
  136. director
    someone who manages an organization
    CARY LEAHEY, ECONOMIST AND MANAGING DIRECTOR AT DECISION ECONOMICS IN NEW YORK:

    "It's a positive development for the equity market and for the euro, particularly since it passed relatively handily.
  137. parliament
    a legislative assembly in certain countries
    Today's news sends a strong signal the Greek parliament will also vote yes tomorrow."
  138. event
    something that happens at a given place and time
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  139. analysis
    abstract separation of something into its various parts
    KIM RUPERT, MANAGING DIRECTOR OF GLOBAL FIXED INCOME ANALYSIS, ACTION ECONOMICS, SAN FRANCISCO:

    "It is significant but it has been pretty much priced in (to Treasuries).
  140. decline
    grow worse
    With approval, there could be a more gentle decline."
  141. Europe
    the 2nd smallest continent
    It takes one of the biggest policy issues off the table and turns the sovereign debt focus back to the U.S. and away from Europe."
  142. issue
    some situation or event that is thought about
    It takes one of the biggest policy issues off the table and turns the sovereign debt focus back to the U.S. and away from Europe."
  143. steep
    having a sharp inclination
    "If the vote had gone the other way, I would have expected a steep drop in prices.
  144. trading
    buying or selling securities or commodities
    We have been trading off of a passage for a couple of days now.
  145. balance
    harmonious arrangement or relation of parts within a whole
    The German population's willingness to support far less productive neighbors still hangs in the balance."
  146. European
    of or relating to or characteristic of Europe
    For now, markets and European politicians in particular, can stand down.
  147. continue
    keep or maintain in unaltered condition
    This is logical and may continue over the next couple of hours and days as markets will quickly realize that this is only a first step in the road to recovery.
  148. finance
    the commercial activity of providing funds and capital
    "The next hurdle is the July 3 finance ministers meeting.
  149. recovery
    return to an original state
    This is logical and may continue over the next couple of hours and days as markets will quickly realize that this is only a first step in the road to recovery.
  150. widely
    to a great degree
    VASSILI SEREBRIAKOV, CURRENCY STRATEGIST, WELLS FARGO, NEW YORK:

    "The decision was widely anticipated.
  151. legislation
    the act of making or enacting laws
    We still have Thursday's vote on specific legislation to implement the plan.
  152. talk about
    to consider or examine in speech or writing
    PHILIPPE GIJSELS, HEAD OF RESEARCH AT BNP PARIBAS FORTIS GLOBAL MARKETS, BRUSSELS

    "We can even talk about a 'buy the rumor, sell the news' kind of reaction as risky assets are paring their gains.
  153. dramatic
    characteristic of a stage performance
    But I don't think it will be dramatic."
  154. confirmed
    having been established or made firm or received the rite of confirmation
    KEITH BOWMAN, EQUITY ANALYST AT HARGREAVES LANSDOWN, LONDON

    "The sigh of relief already being breathed by the markets has been confirmed.
  155. access
    the right to enter
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  156. Prime Minister
    the person who holds the position of head of the government in the United Kingdom
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  157. tough
    substantially made or constructed
    Some more tough decisions need to be taken and the problems are far from solved."
  158. protest
    a formal and solemn declaration of objection
    "At the end everybody will be fed up, the protests of the population will even go louder, there will be a change of government and Greece will default and restructure.
  159. cleared
    rid of objects or obstructions such as e.g. trees and brush
    "I don't believe we'll see a massive risk rally given only one hurdle of many has been cleared.
  160. fixed
    unmoving
    KIM RUPERT, MANAGING DIRECTOR OF GLOBAL FIXED INCOME ANALYSIS, ACTION ECONOMICS, SAN FRANCISCO:

    "It is significant but it has been pretty much priced in (to Treasuries).
  161. overcome
    win a victory over
    Many hurdles are yet to be overcome.
  162. significant
    rich in implication
    KIM RUPERT, MANAGING DIRECTOR OF GLOBAL FIXED INCOME ANALYSIS, ACTION ECONOMICS, SAN FRANCISCO:

    "It is significant but it has been pretty much priced in (to Treasuries).
  163. population
    the people who inhabit a territory or state
    The German population's willingness to support far less productive neighbors still hangs in the balance."
  164. realize
    be fully aware or cognizant of
    This is logical and may continue over the next couple of hours and days as markets will quickly realize that this is only a first step in the road to recovery.
  165. today
    on this day as distinct from yesterday or tomorrow
    Today's news sends a strong signal the Greek parliament will also vote yes tomorrow."
  166. aspect
    a characteristic to be considered
    PETER CHATWELL, RATE STRATEGIST, CREDIT AGRICOLE CIB

    "There is still event risk to position for - tomorrow's vote on the technical aspects of the austerity for one - and thus investors are probably reluctant to be positioned toward the risky end of the spectrum."
  167. in general
    without distinction of one from others
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  168. feed
    provide as food
    "At the end everybody will be fed up, the protests of the population will even go louder, there will be a change of government and Greece will default and restructure.
  169. fund
    a reserve of money set aside for some purpose
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  170. sigh
    breathe out deeply and heavily
    KEITH BOWMAN, EQUITY ANALYST AT HARGREAVES LANSDOWN, LONDON

    "The sigh of relief already being breathed by the markets has been confirmed.
  171. yield
    give or supply
    We have seen equities make some pretty decent gains and bond yields rise.
  172. hang
    cause to be hanging or suspended
    The German population's willingness to support far less productive neighbors still hangs in the balance."
  173. remove
    take something away as by lifting, pushing, or taking off
    It removes the worst-case scenario for the euro, although it's highly unlikely Greece will fall off the radar.
  174. sovereign
    a nation's ruler usually by hereditary right
    It takes one of the biggest policy issues off the table and turns the sovereign debt focus back to the U.S. and away from Europe."
  175. sentiment
    a personal belief or judgment
    The risk of disorderly default has decreased in the near-term but overall sentiment remains very fragile."
  176. dollar
    the basic monetary unit in many countries
    CHRIS TURNER, HEAD OF FX STRATEGY AT ING

    "The markets were positioned for this, so on an intra-day basis, we will see some profit taking in the euro/dollar and the euro/Swiss franc.
  177. signal
    any action or gesture that encodes a message
    Today's news sends a strong signal the Greek parliament will also vote yes tomorrow."
  178. decide
    reach, make, or come to a conclusion about something
    The European leaders and the IMF have to decide to give the 15 billion euros, part of a larger package.
  179. west
    the cardinal compass point that is a 270 degrees
    MICHAEL LEISTER, RATE STRATEGIST, WEST LB

    "The question now is what is the outlook for the near term.
  180. position
    the particular part of space occupied by something
    PETER CHATWELL, RATE STRATEGIST, CREDIT AGRICOLE CIB

    "There is still event risk to position for - tomorrow's vote on the technical aspects of the austerity for one - and thus investors are probably reluctant to be positioned toward the risky end of the spectrum."
  181. will
    the capability of conscious choice and decision
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  182. create
    bring into existence
    So additional measures will have to be taken again, which creates a vicious circle for growth and an ever rising debt.
  183. opposition
    being against something that you disapprove or disagree with
    We would expect to see more support for the opposition on some of the smaller measures.
  184. nervous
    of or relating to a system of sensory apparatus
    We still expect a hot, nervous and volatile summer."
  185. basis
    the fundamental assumptions from which something is begun
    CHRIS TURNER, HEAD OF FX STRATEGY AT ING

    "The markets were positioned for this, so on an intra-day basis, we will see some profit taking in the euro/dollar and the euro/Swiss franc.
  186. step
    the act of changing location by raising the foot and setting it down
    This is logical and may continue over the next couple of hours and days as markets will quickly realize that this is only a first step in the road to recovery.
  187. bid
    propose a payment
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  188. fifth
    coming next after the fourth and just before the sixth in position
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  189. remain
    continue in a place, position, or situation
    The risk of disorderly default has decreased in the near-term but overall sentiment remains very fragile."
  190. support
    the act of bearing the weight of or strengthening
    The German population's willingness to support far less productive neighbors still hangs in the balance."
  191. comment
    a statement that expresses a personal opinion
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  192. a couple of
    more than one but indefinitely small in number
    We have been trading off of a passage for a couple of days now.
  193. rate
    a quantity considered as a proportion of another quantity
    MICHAEL LEISTER, RATE STRATEGIST, WEST LB

    "The question now is what is the outlook for the near term.
  194. all in
    very tired
    All in all, there should be enough votes for tomorrow."
  195. minister
    a person authorized to conduct religious worship
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  196. management
    the act of controlling something
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  197. additional
    further or extra
    So additional measures will have to be taken again, which creates a vicious circle for growth and an ever rising debt.
  198. require
    have need of
    KOEN DE LEUS, STRATEGIST AT KBC SECURITIES, BRUSSELS

    "I don't see how the current government can implement the required measures to meet the bailout conditionalities.
  199. research
    a seeking for knowledge
    PHILIPPE GIJSELS, HEAD OF RESEARCH AT BNP PARIBAS FORTIS GLOBAL MARKETS, BRUSSELS

    "We can even talk about a 'buy the rumor, sell the news' kind of reaction as risky assets are paring their gains.
  200. plan
    a series of steps to be carried out or goals to be achieved
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  201. Wednesday
    the fourth day of the week; the third working day
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  202. Thursday
    the fifth day of the week; the fourth working day
    We still have Thursday's vote on specific legislation to implement the plan.
  203. provide
    give something useful or necessary to
    It has provided more of a risk-on type of trade.
  204. expected
    considered likely or probable to happen or arrive
    Commodity markets have fully expected and discounted approval by the Greek parliament of these austerity measures and this has been behind a rise in oil prices today.
  205. favor
    an act of gracious kindness
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  206. prime
    of or relating to the first or originating agent
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  207. kind of
    to some (great or small) extent
    PHILIPPE GIJSELS, HEAD OF RESEARCH AT BNP PARIBAS FORTIS GLOBAL MARKETS, BRUSSELS

    "We can even talk about a 'buy the rumor, sell the news' kind of reaction as risky assets are paring their gains.
  208. circle
    a plane curve with every point equidistant from the center
    So additional measures will have to be taken again, which creates a vicious circle for growth and an ever rising debt.
  209. smaller
    small or little relative to something else
    We would expect to see more support for the opposition on some of the smaller measures.
  210. still
    not in physical motion
    PETER CHATWELL, RATE STRATEGIST, CREDIT AGRICOLE CIB

    "There is still event risk to position for - tomorrow's vote on the technical aspects of the austerity for one - and thus investors are probably reluctant to be positioned toward the risky end of the spectrum."
  211. action
    something done (usually as opposed to something said)
    But the price action in the euro seems to be a 'buy the rumor, sell the fact' kind of market reaction.
  212. for one
    as a particular one of several possibilities
    PETER CHATWELL, RATE STRATEGIST, CREDIT AGRICOLE CIB

    "There is still event risk to position for - tomorrow's vote on the technical aspects of the austerity for one - and thus investors are probably reluctant to be positioned toward the risky end of the spectrum."
  213. loud
    characterized by sound of great volume or intensity
    "At the end everybody will be fed up, the protests of the population will even go louder, there will be a change of government and Greece will default and restructure.
  214. major
    greater in scope or effect
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  215. flight
    an instance of traveling by air
    It might be a little negative for bonds because there probably was a little flight-to-safety trade going on.
  216. highly
    to a great degree or extent; favorably or with much respect
    It removes the worst-case scenario for the euro, although it's highly unlikely Greece will fall off the radar.
  217. majority
    the main part
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  218. baby
    a very young mammal
    These are baby steps in the right direction."
  219. meet
    come together
    "The next hurdle is the July 3 finance ministers meeting.
  220. principal
    main or most important
    JURGEN ODENIUS, PRINCIPAL - INTERNATIONAL ECONOMICS AND INVESTMENT STRATEGY, PRUDENTIAL FIXED INCOME, NEWARK, NEW JERSEY

    "The vote itself is a necessary for everything else.
  221. drop
    let fall to the ground
    "If the vote had gone the other way, I would have expected a steep drop in prices.
  222. pretty
    pleasing by delicacy or grace; not imposing
    KIM RUPERT, MANAGING DIRECTOR OF GLOBAL FIXED INCOME ANALYSIS, ACTION ECONOMICS, SAN FRANCISCO:

    "It is significant but it has been pretty much priced in (to Treasuries).
  223. type
    a subdivision of a particular kind of thing
    It has provided more of a risk-on type of trade.
  224. gentle
    soft and mild; not harsh or stern or severe
    With approval, there could be a more gentle decline."
  225. worst
    the least favorable outcome
    It removes the worst-case scenario for the euro, although it's highly unlikely Greece will fall off the radar.
  226. leaders
    the body of people who lead a group
    The European leaders and the IMF have to decide to give the 15 billion euros, part of a larger package.
  227. go on
    move forward, also in the metaphorical sense
    It might be a little negative for bonds because there probably was a little flight-to-safety trade going on.
  228. safety
    being certain that adverse effects will not be caused
    It might be a little negative for bonds because there probably was a little flight-to-safety trade going on.
  229. weak
    wanting in physical strength
    Over the next couple of weeks, weak economic figures may continue to pressure markets.
  230. probably
    with considerable certainty; without much doubt
    PETER CHATWELL, RATE STRATEGIST, CREDIT AGRICOLE CIB

    "There is still event risk to position for - tomorrow's vote on the technical aspects of the austerity for one - and thus investors are probably reluctant to be positioned toward the risky end of the spectrum."
  231. equally
    in a balanced or impartial way
    The vote tomorrow would be equally important, but it's harder to predict.
  232. relief
    the act of reducing something unpleasant
    KEITH BOWMAN, EQUITY ANALYST AT HARGREAVES LANSDOWN, LONDON

    "The sigh of relief already being breathed by the markets has been confirmed.
  233. clear
    readily apparent to the mind
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  234. credit
    an estimate of ability to fulfill financial commitments
    PETER CHATWELL, RATE STRATEGIST, CREDIT AGRICOLE CIB

    "There is still event risk to position for - tomorrow's vote on the technical aspects of the austerity for one - and thus investors are probably reluctant to be positioned toward the risky end of the spectrum."
  235. take
    get into one's hands
    It takes one of the biggest policy issues off the table and turns the sovereign debt focus back to the U.S. and away from Europe."
  236. news
    information about recent and important events
    PHILIPPE GIJSELS, HEAD OF RESEARCH AT BNP PARIBAS FORTIS GLOBAL MARKETS, BRUSSELS

    "We can even talk about a 'buy the rumor, sell the news' kind of reaction as risky assets are paring their gains.
  237. see
    perceive by sight or have the power to perceive by sight
    "I don't believe we'll see a massive risk rally given only one hurdle of many has been cleared.
  238. security
    the state of being free from danger or injury
    KOEN DE LEUS, STRATEGIST AT KBC SECURITIES, BRUSSELS

    "I don't see how the current government can implement the required measures to meet the bailout conditionalities.
  239. taking
    the act of someone who picks up or takes something
    CHRIS TURNER, HEAD OF FX STRATEGY AT ING

    "The markets were positioned for this, so on an intra-day basis, we will see some profit taking in the euro/dollar and the euro/Swiss franc.
  240. problem
    a question raised for consideration or solution
    Some more tough decisions need to be taken and the problems are far from solved."
  241. larger
    large or big relative to something else
    The European leaders and the IMF have to decide to give the 15 billion euros, part of a larger package.
  242. have
    possess, either in a concrete or an abstract sense
    "I don't believe we'll see a massive risk rally given only one hurdle of many has been cleared.
  243. development
    a process in which something passes to a different stage
    CARY LEAHEY, ECONOMIST AND MANAGING DIRECTOR AT DECISION ECONOMICS IN NEW YORK:

    "It's a positive development for the equity market and for the euro, particularly since it passed relatively handily.
  244. current
    occurring in or belonging to the present time
    KOEN DE LEUS, STRATEGIST AT KBC SECURITIES, BRUSSELS

    "I don't see how the current government can implement the required measures to meet the bailout conditionalities.
  245. leader
    a person who rules or guides or inspires others
    The European leaders and the IMF have to decide to give the 15 billion euros, part of a larger package.
  246. firm
    not soft or yielding to pressure
    "I think markets are under the assumption now that the implementation vote will be firmed up later this afternoon."
  247. economic
    of or relating to production and management of wealth
    Over the next couple of weeks, weak economic figures may continue to pressure markets.
  248. remains
    the dead body of a human being
    The risk of disorderly default has decreased in the near-term but overall sentiment remains very fragile."
  249. fully
    to the greatest degree or extent; completely or entirely;
    Commodity markets have fully expected and discounted approval by the Greek parliament of these austerity measures and this has been behind a rise in oil prices today.
  250. turn
    move around an axis or a center
    It takes one of the biggest policy issues off the table and turns the sovereign debt focus back to the U.S. and away from Europe."
  251. particularly
    to a distinctly greater extent or degree than is common
    CARY LEAHEY, ECONOMIST AND MANAGING DIRECTOR AT DECISION ECONOMICS IN NEW YORK:

    "It's a positive development for the equity market and for the euro, particularly since it passed relatively handily.
  252. growth
    changing gradually from a simple to a more complex level
    So additional measures will have to be taken again, which creates a vicious circle for growth and an ever rising debt.
  253. rising
    sloping upward
    So additional measures will have to be taken again, which creates a vicious circle for growth and an ever rising debt.
  254. passage
    the act of moving from one state or place to the next
    We have been trading off of a passage for a couple of days now.
  255. next
    immediately following in time or order
    This is logical and may continue over the next couple of hours and days as markets will quickly realize that this is only a first step in the road to recovery.
  256. required
    necessary by rule
    KOEN DE LEUS, STRATEGIST AT KBC SECURITIES, BRUSSELS

    "I don't see how the current government can implement the required measures to meet the bailout conditionalities.
  257. need
    require or want
    We now need to see the approval for the implementation tomorrow.
  258. question
    a sentence of inquiry that asks for a reply
    MICHAEL LEISTER, RATE STRATEGIST, WEST LB

    "The question now is what is the outlook for the near term.
  259. July
    the month following June and preceding August
    "The next hurdle is the July 3 finance ministers meeting.
  260. big
    above average in size or number or quantity
    It takes one of the biggest policy issues off the table and turns the sovereign debt focus back to the U.S. and away from Europe."
  261. can
    airtight sealed metal container for food or drink, etc.
    For now, markets and European politicians in particular, can stand down.
  262. steps
    the course along which a person has walked or is walking in
    These are baby steps in the right direction."
  263. now
    at the present moment
    "I think markets are under the assumption now that the implementation vote will be firmed up later this afternoon."
  264. oil
    a slippery or viscous liquid or liquefiable substance not miscible with water
    Commodity markets have fully expected and discounted approval by the Greek parliament of these austerity measures and this has been behind a rise in oil prices today.
  265. billion
    one thousand million items or units in the United States
    The European leaders and the IMF have to decide to give the 15 billion euros, part of a larger package.
  266. policy
    a plan of action adopted by an individual or social group
    It takes one of the biggest policy issues off the table and turns the sovereign debt focus back to the U.S. and away from Europe."
  267. won
    not subject to defeat
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  268. day
    time for Earth to make a complete rotation on its axis
    This is logical and may continue over the next couple of hours and days as markets will quickly realize that this is only a first step in the road to recovery.
  269. hot
    having a high or higher than desirable temperature
    We still expect a hot, nervous and volatile summer."
  270. afternoon
    the part of the day between noon and evening
    "I think markets are under the assumption now that the implementation vote will be firmed up later this afternoon."
  271. fact
    a piece of information about events that have occurred
    But the price action in the euro seems to be a 'buy the rumor, sell the fact' kind of market reaction.
  272. direction
    a line leading to a place or point
    These are baby steps in the right direction."
  273. particular
    unique or specific to a person or thing or category
    For now, markets and European politicians in particular, can stand down.
  274. near
    near in time or place or relationship
    MICHAEL LEISTER, RATE STRATEGIST, WEST LB

    "The question now is what is the outlook for the near term.
  275. kind
    having a tender and considerate and helpful nature
    PHILIPPE GIJSELS, HEAD OF RESEARCH AT BNP PARIBAS FORTIS GLOBAL MARKETS, BRUSSELS

    "We can even talk about a 'buy the rumor, sell the news' kind of reaction as risky assets are paring their gains.
  276. new
    not of long duration
    CARY LEAHEY, ECONOMIST AND MANAGING DIRECTOR AT DECISION ECONOMICS IN NEW YORK:

    "It's a positive development for the equity market and for the euro, particularly since it passed relatively handily.
  277. meeting
    the social act of assembling for some common purpose
    "The next hurdle is the July 3 finance ministers meeting.
  278. fall
    descend freely under the influence of gravity
    It removes the worst-case scenario for the euro, although it's highly unlikely Greece will fall off the radar.
  279. summer
    the warmest season of the year
    We still expect a hot, nervous and volatile summer."
  280. quickly
    with little or no delay
    This is logical and may continue over the next couple of hours and days as markets will quickly realize that this is only a first step in the road to recovery.
  281. follow
    travel behind, go after, or come after
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  282. taken
    understood in a certain way; made sense of
    So additional measures will have to be taken again, which creates a vicious circle for growth and an ever rising debt.
  283. figure
    alternate name for the body of a human being
    Over the next couple of weeks, weak economic figures may continue to pressure markets.
  284. German
    of or pertaining to or characteristic of Germany or its people or language
    The German population's willingness to support far less productive neighbors still hangs in the balance."
  285. battle
    a hostile meeting of opposing military forces
    "However, winning the battle is not the same as winning the war.
  286. government
    the system or form by which a community is ruled
    KOEN DE LEUS, STRATEGIST AT KBC SECURITIES, BRUSSELS

    "I don't see how the current government can implement the required measures to meet the bailout conditionalities.
  287. off
    from a particular thing or place or position
    It takes one of the biggest policy issues off the table and turns the sovereign debt focus back to the U.S. and away from Europe."
  288. send
    cause to go somewhere
    Today's news sends a strong signal the Greek parliament will also vote yes tomorrow."
  289. go to
    be present at (meetings, church services, university), etc.
    "Ultimately there's going to be an orderly restructuring where Europe will issue a certain number of Brady-like bonds.
  290. end
    either extremity of something that has length
    PETER CHATWELL, RATE STRATEGIST, CREDIT AGRICOLE CIB

    "There is still event risk to position for - tomorrow's vote on the technical aspects of the austerity for one - and thus investors are probably reluctant to be positioned toward the risky end of the spectrum."
  291. George
    King of Great Britain and Ireland from 1760 to 1820
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  292. pass
    go across or through
    CARY LEAHEY, ECONOMIST AND MANAGING DIRECTOR AT DECISION ECONOMICS IN NEW YORK:

    "It's a positive development for the equity market and for the euro, particularly since it passed relatively handily.
  293. far
    at or to or from a great distance in space
    The German population's willingness to support far less productive neighbors still hangs in the balance."
  294. a little
    to a small degree; somewhat
    It might be a little negative for bonds because there probably was a little flight-to-safety trade going on.
  295. days
    the time during which someone's life continues
    This is logical and may continue over the next couple of hours and days as markets will quickly realize that this is only a first step in the road to recovery.
  296. there
    in or at that place
    PETER CHATWELL, RATE STRATEGIST, CREDIT AGRICOLE CIB

    "There is still event risk to position for - tomorrow's vote on the technical aspects of the austerity for one - and thus investors are probably reluctant to be positioned toward the risky end of the spectrum."
  297. are
    a unit of surface area equal to 100 square meters
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  298. some
    quantifier
    There will be some 'haircuts.'
  299. third
    one of three equal parts of a divisible whole
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  300. important
    significant in effect or meaning
    The vote tomorrow would be equally important, but it's harder to predict.
  301. in all
    with everything included or counted
    All in all, there should be enough votes for tomorrow."
  302. stand
    be standing; be upright
    For now, markets and European politicians in particular, can stand down.
  303. seem
    give a certain impression or have a certain outward aspect
    But the price action in the euro seems to be a 'buy the rumor, sell the fact' kind of market reaction.
  304. table
    furniture having a smooth flat top supported by legs
    It takes one of the biggest policy issues off the table and turns the sovereign debt focus back to the U.S. and away from Europe."
  305. view
    the visual percept of a region
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  306. bad
    having undesirable or negative qualities
    It removes the worst-case scenario for the euro, although it's highly unlikely Greece will fall off the radar.
  307. necessary
    absolutely essential
    JURGEN ODENIUS, PRINCIPAL - INTERNATIONAL ECONOMICS AND INVESTMENT STRATEGY, PRUDENTIAL FIXED INCOME, NEWARK, NEW JERSEY

    "The vote itself is a necessary for everything else.
  308. road
    an open way (generally public) for travel or transportation
    This is logical and may continue over the next couple of hours and days as markets will quickly realize that this is only a first step in the road to recovery.
  309. going
    the act of departing
    It might be a little negative for bonds because there probably was a little flight-to-safety trade going on.
  310. change
    become different in some particular way
    "At the end everybody will be fed up, the protests of the population will even go louder, there will be a change of government and Greece will default and restructure.
  311. head
    the upper part of the human body or the body in animals
    PHILIPPE GIJSELS, HEAD OF RESEARCH AT BNP PARIBAS FORTIS GLOBAL MARKETS, BRUSSELS

    "We can even talk about a 'buy the rumor, sell the news' kind of reaction as risky assets are paring their gains.
  312. part
    one of the portions into which something is regarded as divided and which together constitute a whole
    The pressure turns back now to the EU politicians to play their part.
  313. late
    at or toward an end or late period or stage of development
    "I think markets are under the assumption now that the implementation vote will be firmed up later this afternoon."
  314. give
    transfer possession of something concrete or abstract
    "I don't believe we'll see a massive risk rally given only one hurdle of many has been cleared.
  315. talk
    use language
    PHILIPPE GIJSELS, HEAD OF RESEARCH AT BNP PARIBAS FORTIS GLOBAL MARKETS, BRUSSELS

    "We can even talk about a 'buy the rumor, sell the news' kind of reaction as risky assets are paring their gains.
  316. hours
    an indefinite period of time
    This is logical and may continue over the next couple of hours and days as markets will quickly realize that this is only a first step in the road to recovery.
  317. play
    engage in recreational activities rather than work
    The pressure turns back now to the EU politicians to play their part.
  318. chief
    the head of a tribe or clan
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  319. following
    the act of pursuing in an effort to overtake or capture
    Following are analysts' comments on the vote:

    JOHN AUGUSTINE, CHIEF INVESTMENT STRATEGIST, FIFTH THIRD ASSET MANAGEMENT, CINCINNATI, OHIO

    "In general we would view it as a positive event.
  320. more
    greater in size or amount or extent or degree
    It has provided more of a risk-on type of trade.
  321. strong
    having strength or power greater than average or expected
    Today's news sends a strong signal the Greek parliament will also vote yes tomorrow."
  322. hour
    a period of time equal to 1/24th of a day
    This is logical and may continue over the next couple of hours and days as markets will quickly realize that this is only a first step in the road to recovery.
  323. short
    having little length or lacking in length
    But in the short term, a default has been avoided."
  324. hard
    resisting weight or pressure
    The vote tomorrow would be equally important, but it's harder to predict.
  325. over
    beyond the top or upper surface or edge
    This is logical and may continue over the next couple of hours and days as markets will quickly realize that this is only a first step in the road to recovery.
  326. U.S.
    North American republic containing 50 states - 48 conterminous states in North America plus Alaska in northwest North America and the Hawaiian Islands in the Pacific Ocean; achieved independence in 1776
    It takes one of the biggest policy issues off the table and turns the sovereign debt focus back to the U.S. and away from Europe."
  327. later
    happening at a time subsequent to a reference time
    "I think markets are under the assumption now that the implementation vote will be firmed up later this afternoon."
  328. number
    a concept of quantity involving zero and units
    "Ultimately there's going to be an orderly restructuring where Europe will issue a certain number of Brady-like bonds.
  329. behind
    in or to or toward the rear
    Commodity markets have fully expected and discounted approval by the Greek parliament of these austerity measures and this has been behind a rise in oil prices today.
  330. think
    judge or regard; look upon; judge
    "I think markets are under the assumption now that the implementation vote will be firmed up later this afternoon."
  331. gone
    no longer retained
    "If the vote had gone the other way, I would have expected a steep drop in prices.
  332. five
    the cardinal number that is the sum of four and one
    Greek Prime Minister George Papandreou won a parliamentary majority in favor of a five-year austerity plan on Wednesday, clearing a major hurdle in Greece's bid to win access to international funding to avoid default.
  333. certain
    established beyond doubt or question; definitely known
    "Ultimately there's going to be an orderly restructuring where Europe will issue a certain number of Brady-like bonds.
  334. believe
    accept as true; take to be true
    "I don't believe we'll see a massive risk rally given only one hurdle of many has been cleared.
  335. already
    prior to a specified or implied time
    KEITH BOWMAN, EQUITY ANALYST AT HARGREAVES LANSDOWN, LONDON

    "The sigh of relief already being breathed by the markets has been confirmed.
  336. case
    an occurrence of something
    It removes the worst-case scenario for the euro, although it's highly unlikely Greece will fall off the radar.
  337. back
    the posterior part of a human (or animal) body
    It takes one of the biggest policy issues off the table and turns the sovereign debt focus back to the U.S. and away from Europe."
  338. week
    any period of seven consecutive days
    Over the next couple of weeks, weak economic figures may continue to pressure markets.
  339. many
    a large number of the persons or things being discussed
    "I don't believe we'll see a massive risk rally given only one hurdle of many has been cleared.
  340. even
    being level or straight or regular and without variation
    PHILIPPE GIJSELS, HEAD OF RESEARCH AT BNP PARIBAS FORTIS GLOBAL MARKETS, BRUSSELS

    "We can even talk about a 'buy the rumor, sell the news' kind of reaction as risky assets are paring their gains.
  341. large
    above average in size or number or quantity or magnitude
    The European leaders and the IMF have to decide to give the 15 billion euros, part of a larger package.
  342. given
    acknowledged as a supposition
    "I don't believe we'll see a massive risk rally given only one hurdle of many has been cleared.
  343. less
    a quantifier meaning not as great in amount or degree
    The German population's willingness to support far less productive neighbors still hangs in the balance."
  344. war
    the waging of armed conflict against an enemy
    "However, winning the battle is not the same as winning the war.
  345. thus
    from that fact or reason or as a result
    PETER CHATWELL, RATE STRATEGIST, CREDIT AGRICOLE CIB

    "There is still event risk to position for - tomorrow's vote on the technical aspects of the austerity for one - and thus investors are probably reluctant to be positioned toward the risky end of the spectrum."
  346. may
    thorny shrub of a small tree having white to scarlet flowers
    This is logical and may continue over the next couple of hours and days as markets will quickly realize that this is only a first step in the road to recovery.
Created on 六月 29, 2011 (updated 六月 29, 2011)

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