(单词翻译:单击)
A proposal for an orderly Euro Zone exit; The prize? 390,000 dollars. And today turns out we have a winner. The Wolfson Economics Prize has been awarded to Roger Bootle and his team from Capital Economics, that's a UK research consultancy, for their submission.
一个有序退出欧元区的提案：代价是？39万美元。事实证明，今天有一个赢家。罗杰·布托，及其团队凯投宏观荣获沃尔夫森经济奖，以表彰其对欧元区国家退出联盟方法的研究。凯投宏观是一家英国顶级研究咨询公司。
Now after the Nobel Prize for Economics, what all we might hear is the second biggest cash prize awarded for this field. Roger Bootle's proposal is called "Leaving the Euro: A Practical Guide. " He told us how it might work and why he thinks that a real Euro Zone exit is more likely now than it's ever been.
诺贝尔经济学奖过后，经济领域的第二大奖项会花落谁家，答案即将揭晓。罗杰·布托的提议是：“离开欧元区：一项实用指南。”他告诉我们这项提议的作用，为什么他会觉得退出欧元区势在必行。
Well, I think the crisis has been building up gradually but continually, every so often you get an attempt to fix it or something, that's for traders, of fixing of it. And then it proves to be inadequate which is just another one of those faces. I think the background crisis is actually intensifying, probably a breakup I would have mentioned: Is it anything more likely now than it was a few months ago?
好吧，我认为危机是慢慢积累起来的，而不是一蹴而就的。一遇到问题，就赶紧想办法补救，那是交易员的做派。后来又证明之前的做法不合理，那只是其中而已。我认为在全球金融危机背景下，矛盾还在深化，可能会突然爆发。我必须提出的是：相比几个月前，现在退出的可能性是不是更大？
Our plan envisages a country preparing in secret, a small group of officials. And then, enacting that plan very quickly, essentially overnight, announcing to the populous that domestic monetary amounts have been redenominated into a new currency, let's call it the drachma, at one for one. So a given amount in Euros becomes the same amount in drachmas. Meanwhile, on the exchanges, on the foreign exchanges, the drachma depreciates sharply. Perhaps it would be one up to 1.7, 2 to 1, we don't know. That's not a problem. That is the essence of the solution.
我们的计划就是设想一个在秘密筹备的国家，一小群政府官员。然后，迅速地制定出计划，实质是一夜之间就向众人宣布国内货币数量需由新采用的货币重新计价，我们把他叫做德拉克马。一欧元相当于一德拉克马。所以，给定数量的欧元就变成了同等数量的德拉克马。与此同时，在外币兑换市场德拉马克大幅贬值。也许汇率会高达1.7:1或是2:1，我们也不知道。这不是问题，而是解决问题的关键。
The country then redenominates all its debts, its domestic debt, into this currency. It establishes a new policy regime, bans wage indexation, establishes tight controls on fiscal policy. And then lies back and hopes, I think correctly, that before very long, that much lower exchange rate will bring renewed economic growth.
然后该国要重新为其所有的国内债务计价，以这种货币计价。这样就会缔造出一个新的政团，会禁止工资指数化，会对财政政策实行严格的控制。然后，停下来观望。我认为不久之后，汇率会降得更低，这将带来焕然一新的经济增长。
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