5.How are businesses within the euro zone affected by the euro?
5.歐元將如何影響歐元區(qū)內(nèi)的商業(yè)運作？
Companies operating within the euro zone have already enjoyed a reduction in many of their costs, particularly in treasury management, foreign exchange transactions and through the elimination of much foreign exchange risk.
在歐元區(qū)內(nèi)運作的公司已經(jīng)開始享受各項開支的減少，尤其是在資產(chǎn)管理，外匯交易等方面。同時這也減少了不少外匯兌換中的風(fēng)險。
With the conversion to euro notes and coins however, increased price transparency should trigger strong competition in some sectors so, the cost to consumers of certain goods in certain markets may have to fall. Businesses also face one-off costs in the changing of equipment and staff training.
隨著各國貨幣向歐元鑄幣和紙幣的轉(zhuǎn)化，價格透明度的增強將引發(fā)某些部門的激烈競爭，某些市場上部分商品的價格會因此有所下降。同時，商家要面對由設(shè)備更新和員工培訓(xùn)帶來的性開銷。
However, critics of the euro feel that handing over control of interest rates and exchange rate policy to the ECB could mean that action is taken centrally which is inappropriate for the economies in which companies operate.
然而，歐元批評家認(rèn)為將利率和匯率政策控制權(quán)移交給歐洲央行可能意味著行動執(zhí)行的集中化，這與包含公司運作的各國經(jīng)濟(jì)不相適應(yīng)。
6.What will the euro mean for consumers?
6.歐元對消費者意味著什么？
The expectation is that consumers will be able to shop around for bargains as it becomes easier to compare prices between countries as all goods will be valued in euros.
消費者可以四處尋找佳折扣。因為所有的商品均以歐元計價，價格比較也變得更為簡便。
However, there are fears that businesses will seize the opportunity to raise their prices amid the confusion arising from the changeover to euros.
然而，人們?nèi)該?dān)心，在向歐元轉(zhuǎn)換的過程中出現(xiàn)的混亂局面會使某些商家乘機提價。
III External aspects of euro and EMU (European Monetary Union)
III 歐元和歐洲貨幣聯(lián)盟的對外影響
The launching of euro and the completion of the EMU will be instrumental in reshaping the international monetary system, principally by making it more balanced and symmetrical. As this involves a progressive approach, whose effectiveness mainly rests with the smooth circulation of euro and the independent execution of the stability-oriented policies by the European Central Bank (ECB), its repercussions will be most manifest in the following aspects:
歐元的發(fā)行和歐洲貨幣聯(lián)盟的形成將在世界貨幣體系重新整合的過程中發(fā)揮至關(guān)重要的作用。 這主要表現(xiàn)在使該體系更為平衡和對稱。這也包括采取一種循序漸進(jìn)的方法，而它的效用主要取決于歐元的順利流通和歐洲央行穩(wěn)定政策的獨立實施。其帶來的影響將主要表現(xiàn)在以下幾個方面：
1. The use of single currency will better coordinate the economic policies of its Member States, which in turn will contribute to a more pronounced economic status of the euro area comparable to that of the U.S and larger than that of Japan.
1．使用單一貨幣將更好地協(xié)調(diào)歐元區(qū)成員國各自的經(jīng)濟(jì)政策，而這會使歐元區(qū)的 經(jīng)濟(jì)地位變得更為顯著， 超過日本并足以與美國抗衡。
2. Owing to the disappearance of tensions between European currencies, the economic performance of the eurozone will be less sensitive to exchange rate fluctuations.
2．由于歐洲各國貨幣間的矛盾不復(fù)存在，歐元區(qū)的經(jīng)濟(jì)對匯率波動將不再那么敏感。
3. With the completion of EMU, the European financial market will become truly integrated with the implementation of an efficient trans-border payment system (TARGET). The recent agreement clinched by the ECB to finalize the deadline for lowering the charges and commission rates for trans-border transactions and capital transfer can serve as a case in point.
3．在歐洲貨幣聯(lián)盟建成之后，隨著一個高效率的跨國界支付制度的實施，歐洲的金融市場將在真正意義上實現(xiàn)一體化。一個現(xiàn)成的例子就是，在歐洲央行近的一項協(xié)議中，跨國界交易和資本流動的成本和銀行傭金率降低的后期限被。
4. The euro should constitute an important reserve currency and play a key role in portfolios of financial assets on an international scale.
4．歐元應(yīng)該成為重要的儲備幣種，并在國際金融資產(chǎn)組合中起關(guān)鍵作用。
5. European economic policies should, in light of its aim to foster easy monetary conditions and maintain appropriate exchange rates, merit close attention as a valuable source of reference in international economic affairs.
5．鑒于歐洲經(jīng)濟(jì)政策的目的在于創(chuàng)造寬松的貨幣環(huán)境和保持適當(dāng)?shù)膮R率水平，因此它可以為國際經(jīng)濟(jì)運作提供參考，值得密切關(guān)注。
6. The representation of the EMU within international institutions such as the IMF is a matter awaiting further discussions and consultations. Mechanisms of monitoring and mutual compatibility are to be highlighted.
6．歐洲貨幣聯(lián)盟在包括國際貨幣基金組織在內(nèi)的國際機構(gòu)中的代表權(quán)問題有待進(jìn)一步的討論和磋商。需要強調(diào)的是監(jiān)督機制和政策的相互協(xié)調(diào)性。
5.歐元將如何影響歐元區(qū)內(nèi)的商業(yè)運作？
Companies operating within the euro zone have already enjoyed a reduction in many of their costs, particularly in treasury management, foreign exchange transactions and through the elimination of much foreign exchange risk.
在歐元區(qū)內(nèi)運作的公司已經(jīng)開始享受各項開支的減少，尤其是在資產(chǎn)管理，外匯交易等方面。同時這也減少了不少外匯兌換中的風(fēng)險。
With the conversion to euro notes and coins however, increased price transparency should trigger strong competition in some sectors so, the cost to consumers of certain goods in certain markets may have to fall. Businesses also face one-off costs in the changing of equipment and staff training.
隨著各國貨幣向歐元鑄幣和紙幣的轉(zhuǎn)化，價格透明度的增強將引發(fā)某些部門的激烈競爭，某些市場上部分商品的價格會因此有所下降。同時，商家要面對由設(shè)備更新和員工培訓(xùn)帶來的性開銷。
However, critics of the euro feel that handing over control of interest rates and exchange rate policy to the ECB could mean that action is taken centrally which is inappropriate for the economies in which companies operate.
然而，歐元批評家認(rèn)為將利率和匯率政策控制權(quán)移交給歐洲央行可能意味著行動執(zhí)行的集中化，這與包含公司運作的各國經(jīng)濟(jì)不相適應(yīng)。
6.What will the euro mean for consumers?
6.歐元對消費者意味著什么？
The expectation is that consumers will be able to shop around for bargains as it becomes easier to compare prices between countries as all goods will be valued in euros.
消費者可以四處尋找佳折扣。因為所有的商品均以歐元計價，價格比較也變得更為簡便。
However, there are fears that businesses will seize the opportunity to raise their prices amid the confusion arising from the changeover to euros.
然而，人們?nèi)該?dān)心，在向歐元轉(zhuǎn)換的過程中出現(xiàn)的混亂局面會使某些商家乘機提價。
III External aspects of euro and EMU (European Monetary Union)
III 歐元和歐洲貨幣聯(lián)盟的對外影響
The launching of euro and the completion of the EMU will be instrumental in reshaping the international monetary system, principally by making it more balanced and symmetrical. As this involves a progressive approach, whose effectiveness mainly rests with the smooth circulation of euro and the independent execution of the stability-oriented policies by the European Central Bank (ECB), its repercussions will be most manifest in the following aspects:
歐元的發(fā)行和歐洲貨幣聯(lián)盟的形成將在世界貨幣體系重新整合的過程中發(fā)揮至關(guān)重要的作用。 這主要表現(xiàn)在使該體系更為平衡和對稱。這也包括采取一種循序漸進(jìn)的方法，而它的效用主要取決于歐元的順利流通和歐洲央行穩(wěn)定政策的獨立實施。其帶來的影響將主要表現(xiàn)在以下幾個方面：
1. The use of single currency will better coordinate the economic policies of its Member States, which in turn will contribute to a more pronounced economic status of the euro area comparable to that of the U.S and larger than that of Japan.
1．使用單一貨幣將更好地協(xié)調(diào)歐元區(qū)成員國各自的經(jīng)濟(jì)政策，而這會使歐元區(qū)的 經(jīng)濟(jì)地位變得更為顯著， 超過日本并足以與美國抗衡。
2. Owing to the disappearance of tensions between European currencies, the economic performance of the eurozone will be less sensitive to exchange rate fluctuations.
2．由于歐洲各國貨幣間的矛盾不復(fù)存在，歐元區(qū)的經(jīng)濟(jì)對匯率波動將不再那么敏感。
3. With the completion of EMU, the European financial market will become truly integrated with the implementation of an efficient trans-border payment system (TARGET). The recent agreement clinched by the ECB to finalize the deadline for lowering the charges and commission rates for trans-border transactions and capital transfer can serve as a case in point.
3．在歐洲貨幣聯(lián)盟建成之后，隨著一個高效率的跨國界支付制度的實施，歐洲的金融市場將在真正意義上實現(xiàn)一體化。一個現(xiàn)成的例子就是，在歐洲央行近的一項協(xié)議中，跨國界交易和資本流動的成本和銀行傭金率降低的后期限被。
4. The euro should constitute an important reserve currency and play a key role in portfolios of financial assets on an international scale.
4．歐元應(yīng)該成為重要的儲備幣種，并在國際金融資產(chǎn)組合中起關(guān)鍵作用。
5. European economic policies should, in light of its aim to foster easy monetary conditions and maintain appropriate exchange rates, merit close attention as a valuable source of reference in international economic affairs.
5．鑒于歐洲經(jīng)濟(jì)政策的目的在于創(chuàng)造寬松的貨幣環(huán)境和保持適當(dāng)?shù)膮R率水平，因此它可以為國際經(jīng)濟(jì)運作提供參考，值得密切關(guān)注。
6. The representation of the EMU within international institutions such as the IMF is a matter awaiting further discussions and consultations. Mechanisms of monitoring and mutual compatibility are to be highlighted.
6．歐洲貨幣聯(lián)盟在包括國際貨幣基金組織在內(nèi)的國際機構(gòu)中的代表權(quán)問題有待進(jìn)一步的討論和磋商。需要強調(diào)的是監(jiān)督機制和政策的相互協(xié)調(diào)性。