Chinese to English: S&P Downgrades 17 Euro Zone Members
Source text - Chinese Standard & Poor's analysts on Saturday defended their downgrades of more than half of the euro zone's 17 members, as the highest-profile victim of the mass ratings cut—France—looked to play down the impact.
In a conference call hours after the downgrades, S&P analysts said they stood by their moves as they believe the euro zone's policy response to the debt crisis has been largely misguided and is building up future risks.
S&P has downgraded in the Triple-A credit rating of France, as well as trimming ratings of other sovereigns, including Spain, Portugal and Italy.
"The proper diagnosis would have to give more weight to the ... rising imbalances in the euro zone," said Moritz Kramer, head of European sovereign ratings. He pointed to problems such as divergences in competitiveness from one country to another, which he said is reflected in huge imbalances in national current accounts.
Mr. Kramer said the centerpiece of a December summit aimed at arresting the crisis, the adoption of tighter fiscal rules to avoid excessive deficits, "wouldn't have identified the risks" in advance as Germany had one of the largest budget deficits of all during the first 10 years of the euro's existence, whereas Spain, which is a problem area now, had a largely balanced budget.
Translation - English 标准普尔的分析师在本周六坚持了他们对欧元区大多半成员国的主权信用评级下调. 作为此次降级最大的受害者, 法国正努力淡化此事的影响.
Chinese to English: Ma Ying-jeou beats Tsai Ing-wen
Source text - Chinese TAIPEI—Taiwan's President Ma Ying-jeou of the Kuomintang, who has championed rapprochement with China, narrowly beat challenger Tsai Ing-wen of the pro-independence Democratic Progressive Party in an election Saturday, a result greeted with relief in Beijing and Washington.
According to the central election commission, Mr. Ma won 6.89 million votes, or 51.6% of votes, while Ms. Tsai had 6.09 million votes. Analysts said the third candidate, James Soong of People First Party, would lure votes from Mr. Ma, but he accrued only 369,588 votes, well below expectations.
"My winning shows that people in Taiwan agree with our effort to strive for peaceful cross-Strait relations," Mr. Ma told a crowd of supporters, referring to the Taiwan Strait. "I believe the relations [with Beijing] will be more harmonious and more trustful going forward."
Ms. Tsai, after conceding her election loss, told reporters that she will step down to take full responsibility. "We will carefully re-examine ourselves," she said. The DPP said it will decide shortly whether to accept Ms. Tsai's resignation.
Translation - English 持对华友好政策的台湾国民党主席马英九在本周六台湾总统大选险胜支持台独民进党主席蔡英文. 这个结果使北京和华盛顿都松了一口气.
Chinese to English (Administrative Office of the United States Courts)
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