The ESM is the eurozone's rescue fund. It can provide countries in financial difficulty with up to €500 billion ($560bn). Greece has requested an ESM bailout to cover all its financial needs for two years.

欧洲稳定机制使欧元区的援助基金，能够为遇到财政困难的国家提供高达5000亿欧元（约合5600亿美元）的援助资金。希腊已经要求欧洲稳定机制为其连续两年提供所需的全部金融支持资金。

 

The group of 19 EU countries that share a common currency - the euro. Has so far weathered the financial crisis and kept Greece within the currency, but there are serious fears about the future of the currency should Greece exit.

欧盟19个共用统一货币——欧元的国家。欧元区目前也算平安度过了金融危机，希腊也还留在这个集体里。不过，加入希腊真的脱离欧元区的话，欧元的未来也颇值得担忧。

 

Almost all the eurozone countries have lent money to Greece, leaving them "exposed" if Greece can't pay. The Eurozone's largest economies, Germany and France, are owed the most but countries with smaller or less robust¹ economies, such as Slovenia and Spain, would likely suffer more.

几乎所有的欧元区国家都给希腊借过钱，如果希腊无法还债，那么这些国家都面临风险。德国和法国这两个欧元区最大的经济体借债额最高，不过，斯洛文尼亚和西班牙这种经济实力不太强的国家可能会在希腊债务危机中受损更多。

 

A reduction in the value of a troubled borrower's debts. In 2011, Greece's private lenders received a massive 50% haircut of what they were owed, reducing Greece's debt by €100bn ($110bn). Greece pushed for a second debt haircut this year but has failed to reach an agreement with its creditors².

对遭遇经济困境的债务方所欠债务进行减值。2011年，希腊的私有银行债权方同意对希腊所欠债务减值50%，将希腊的债务减少了1000亿欧元。今年，希腊再次要求债务减值，但是没有跟债权方达成协议。

 

The exchange of documents between Greece and its EU negotiating partners has gone on for so long with no breakthrough that it has been given its own name - "paperology".

希腊和欧盟谈判方之间的文件往来持续了很久但没有任何进展，这种状况被叫做“文件学”。

 

A Russian word meaning a group of three, used by Greek journalists and then others to describe the EU, ECB, and IMF - the trinity of institutions responsible for monitoring Greece's austerity measures. Greece's new prime minister, Alexis Tsipras, vowed³ in February that he would no longer acknowledge the "Troika" as an entity⁴.

这是一个俄语词，指三人小组或者三国集团，希腊记者将欧盟、欧洲央行和国际货币基金组织合称为Troika，因为这三个组织共同负责监督希腊的紧缩政策。希腊新任总理齐普拉斯今年2月表示，他不再承认这三个组织整体是一个实体组织。

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