Charles Hodson, World Business Today anchor:
Welcome back. Greece officially joins the European single currency this New Year’s Day, increasing the number of member states of the Euro-zone to twelve. A vote of confidence perhaps, but for much of 2000, the Euro remained unwanted and unloved. It seemed not even intervention by the world’s leading central banks could stop its slide.
But the year-end saw a revival: the Euro hitting five-month highs and experts once again predicting parity with the mighty dollar. Sonja Sequera examines the continued teething problems of the Euro.
Sonja Sequera, CNN Correspondent:
There were plenty of predictions at the start of 2000 that the Euro would stage a comeback. The single currency managed to hold above parity with the dollar during the first few weeks of the year. But that proved the best it was going to get. Then came the downhill slide which sparked serious concerns about the Euro’s credibility.
Nick Parsons, Commerzbank:
The main reason that people got the Euro wrong was because they got the US economy wrong. The strength of the US economy in the first quarter of this year, which was continued into Q2, really came as a surprise to most forecasters. It wasn’t right until the end of the year that US economic slowdown really began to bite.
The European Central Bank spent much of the year trying to talk up the Euro, but too little effect. Then, in late September, the ECB took decisive action to support the ailing currency: spearheading joint intervention by the Group of Seven industrial nations, which it followed up by three solo interventions in early November.
Neil Mackinnon, Merrill Lynch:
Foreign exchange traders have had to be on their guard because they weren’t sure that the ECB and other central banks might not come in to support the currency and the injection of that two-way risk has really helped to stabilize the Euro and help, in my opinion, to create a floor for the currency.
But meanwhile, the Euro suffered a blow from another quarter -- Denmark. On September 28th, the Danish rejected the European single currency, and the Euro failed its first real test of public opinion. The Euro weathered that storm; but in October, ECB President Wim Duisenberg made remarks suggesting another round of G-7 intervention was not on the cards, sparking a sell-off which sent the Euro to an all-time low of .8225. It’s rebounded since then on growing concern about US economic growth. But the Euro’s troubles may not be over.
Adrian Schmidt, Chase Manhattan:
I think we will see a further move down, maybe two, around 82, maybe 80 cents against the dollar, which would be a new low. Essentially because we believe that the US economy is significantly stronger than most believe, and it’s going to remain strong next year because inflation isn’t a problem and the Fed will be able to insure that.
Opinion seems divided on how the Euro will fare in 2001. But most analysts agree the Euro’s fortunes will depend on the performance of the US economy. And the ECB will be hoping the Euro starts to flex its muscles ahead of its next big test: the introduction of notes and coins at the start of 2002. Sonja Sequera, CNN Financial News, London.
Chinese to English: 傳說與祭典 (The Legend and the Ceremony)
Source text - Chinese 相傳以前賽夏和矮人達愛毗鄰而居，達愛傳授賽夏農耕知識，給他們種籽，並教導祭祀禮儀和歌舞，因此賽夏視pasdai為恩人。每當有祭典節慶時，就請矮人前來飲酒作樂。有一次豐收祭之夜，矮人調戲賽夏少女，賽夏設計報復。他們將通往矮人住處的山枇杷樹橋砍斷一半，坐在橋上的矮人落水滅亡，只剩下兩個矮人倖存。這兩個矮人將叮嚀訓誨賽夏族人之事編入矮人祭歌，傳授給賽夏人。要他們謹記教訓，並按期舉行矮人祭儀。兩人沿河向東方離去時，邊撕山棕葉邊警告賽夏族人若不遵從叮嚀教誨，會導致作物歉收，族群滅亡。賽夏人為求矮人再保佑族人的平安和豐收，遂每年舉行矮靈祭，不僅慰弔矮靈，也祈求矮人賜福。
Translation - English Legend has it that long time ago the Saisiat tribe lived in harmony with the Pasdai pygmies. The Pasdai imparted their agricultural techniques to the Saisiat, gave them seeds and instructed them in ceremonial rites, songs and dances. The Saisiat respected the pygmies and therefore considered them as their benefactors. Whenever the Saisiat held a ceremony or a festival, they invited the pygmies to drink and celebrate together. However, in one evening of a harvest festival, one of the pygmies harassed a young Saisiat woman. The Saisiat were offended by this incident and decided to take revenge on the pygmies. The Saisiat then chopped the loquat wood bridge, the trunk way that led to the pygmies’ village, in half. All the pygmies who had been on the bridge fell into the water and got drowned. Only two pygmies managed to survive from the massacre. After that, these two pygmies composed a ceremonial song containing their exhortations and admonitions to the Saisiat. The pygmies gave the song to the Saisiat and demanded that the Saisiat should earnestly remember the incident and regularly hold a ceremony to placate the spirits of the pygmies. While the two pygmies headed the east along the river, they tore up palm leaves and monished the Saisiat that they should not ignore the pygmies’ exhortations and admonitions. Otherwise, the Saisiat would suffer from the results that they would fail their harvests and the whole tribe would face complete extinction. In order to protect the tribe and to have beautiful harvests, the Saisiat plead for the blessings of the pygmies and hold a pygmy spirit ceremony every year to appease the spirits of the pygmies and supplicate for the benedictions.
PhD - McGill Univesity
Years of translation experience: 22. Registered at ProZ.com: Dec 2005.
* Solid background in linguistic theory, grammar and understanding of languages;
* Well trained in both Taiwan and Canada;
* Excellent written and oral communication skills in Mandarin Chinese, English and Taiwanese.