Provision – to provide, provisional, provider

1. confession 11. exclusion 21. limitation 31. pollution

2. depression 12. explosion 22. abolition 32. accusation

3. globalization 13. intrusion 23. cohesion 33. privatization

4. discussion 14. intrusion 24. diversion 34. quotation

5. impression 15. seclusion 25. expansion 35. allegation

6. possession 16. confusion 26. extension 36. expiration

7. profession 17. immersion 27. complication 37. starvation

8. collision 18. repulsion 28. delegation 38. adaptation

9. conclusion 19. revision 29. federation 39. flotation

10. decision 20. admission 30. operation 40. identification

Exercise 7. Study the information below and translate what follows:

prospect – 1. chance/hope that something will happen

2. idea of what may/will happen

3. prospects = chances of being successful

A.

1. There is little prospect of any improvement in the weather.

2. Major developments are in prospect for the company.

3. I don’t relish* the prospect of having to share an office.

4. He didn’t relish the prospect of having to explain his behavior.

5. This position offers a good starting salary and excellent promotion prospects.

6. Getting the right qualifications will enhance your employment prospects.

7. At 45 he was an unemployed musician with no prospects.

8. Long-term prospects for the economy have improved.

9. Their prospects of employment look better than last year.

10. Your employment prospects would be much better if you finished your degree.

11. She is one of the our brightest young prospects.

12. The prospects for employment in the technology sector are especially good right now.

B.

планы на будущее; перспективы мира и разрядки; перспективы развития экономических отношений; широкие перспективы развития долгосрочных банковских отношений; краткосрочная перспектива подъема в экономике; определять перспективы развития финансирования; ухудшить перспективы возможности кредитования; что в перспективе?

to relish* – to enjoy, to be pleased and satisfied with

Exercise 8. A) Read and summarize the text using the underlined words and word combinations; B) Translate what follows without looking into the text:

A.

For 17 years, Mr. Perhirin, a graduate of Nantes University in France with degree in economics, held management positions with Societй Generale Group’s divisions in France, London, Melbourne, Tokyo and Madrid. In 1993, he came to Moscow to open Societй Generale Vostok, the group’ s subsidiary in Moscow. The experience gained by Mr. Perhirin in international banking operations enabled him to join Austrian Raiffeisen Banking Group in 1996 to open their subsidiary in Russia..

Thanks largely to Mr. Perhirin management, ZAO Raiffeisenbank Austria has become a leading foreign-owned bank in Russia which enjoys high respect among corporate and private customers. At present, the Bank disposes of 10 business locations in Moscow, a regional branch in Saint Petersburg , it is also running a leasing company, a non-state pension fund Raiffeisen and Raiffeisen Capital Asset Management Company.

Busy as he was with professional banking, Mr. Perhirin found time for lobbying general interests of European businesses in Russia. He is a member of the boards of the Club France in Moscow and Conseiller du Commerce Exterieur de la France, in 1998-2001 he was Chairman of the Banking Committee of the European Business Club, and represented Austria in the Club in 2001-2002.

Members of the Association of European Businesses in Russia (AEB), formerly the European Business Club, elected Mr. Perhirin to chair the Executive Board in June 2004. Mr. Perhirin believes that his major challenge as the AEB chairman is to enhance closer business links between Europe and Russia, especially now when it shares borders with the enlarged European Union. Conceived in 1995, the AEB has since developed into an influential, prominent and trusted force in Russian business: an association, which today not only adapts to, but also shapes the landscape of which its members are all a part.

B.

выпускник по специальности экономика; работать на руководящих постах в подразделениях; открыть дочерний банк; накопить опыт работы на российском рынке; возглавить дочернюю структуру австрийской банковской группы; в значительной мере благодаря умелому руководству; стать одним из ведущих российских банков с иностранным участием; завоевать авторитет среди корпоративных и частных клиентов; управлять лизинговой компанией; негосударственный пенсионный фонд; активно лоббировать общие интересы; быть членом правления; считать главной задачей содействие установлению более тесных деловых связей; иметь общую границу; стать известной, влиятельной и пользующейся доверием силой; помогать приспосабливаться к условиям бизнеса в России, но и активно формировать эти условия

Exercise 9. Give extensive reports on the following topics and find out some other examples in the current press media:

1. The EU broadening financial collaboration in Russia.

2. Combined efforts in the bank sphere.

3. Give the outline of the banking functioning.

PROSPECTS OF FURTHER ENLARGEMENT

Where are the EU' s final Borders

Following its recent enlargement from 15 to 25 states, the EU faces the question of whether and whither to expand next. Support for further enlargement within the EU is limited and the EU is preoccupied with a host of internal problems. Irrespective of the present mood, however, the 2007 accession of Bulgaria and Romania cannot now be stopped. And by the end of the year, the EU must decide whether to open negotiations with Turkey, which poses special challenges.

The EU has indicated that it is also ready to take in the rest of the Balkan countries. Croatia has received a favourable opinion on its membership application and Macedonia recently also applied for membership. While the prospects of the other countries in the Balkans appear more distant, their small size and EU fears of leaving a black hole in a strategic part of Europe suggest that the entire sub-region will be absorbed at some point.

Beyond the Balkans and possibly Turkey, the EU membership prospects for other countries appear bleak.

The EU is shifting its focus from enlargement to partnership with neighboring states. On May 12, the European Commission published a strategy document for its "new neighbors". The European Neighborhood Policy (ENP), which was first outlined in 2003, offers closer ties to neighbors willing "to share EU values." It promises trade, political dialogue and aid. Neighbors are to be offered, with conditions, the prospect of eventual full participation in the EU' s market for goods, capital and even labor – but not membership in EU institutions.

The defining feature of ENP is "integration, not membership." It is to apply to Ukraine, Moldova and several Mediterranean states. The commission also wants to include the three Southern Caucasus countries.

The first problem with the ENP, however, is that the EU' s most powerful tool for influencing other countries is the offer of the prospect of membership – it is the essence of the EU's "soft power." The offer of "everything but institutions" will not be a sufficient incentive for neighboring countries' elites to pursue "EU-compliant" policies. The extent of conditionality and the degree of intrusion in the ENP – in return for mere trade relations and some aid – will be seen as illegitimate by target states.

One of the ENP' s biggest problems is that of omission – the lack of a clear strategy for Russia, the EU' s largest neighbor. The EU cannot make up its mind whether to treat Russia as the hegemonic leader of a rival bloc or just another country aspiring to bilateral ties. The near crisis in relations

The EU and Russia talk of a strategic partnership, but there is little substance to it. A failure to integrate Russia into a wider Europe will eventually spell trouble. Indeed, secure peace and prosperity in Europe are scarcely imaginable without Russia's participation in the European "architecture". This means not only developing a viable near-term partnership between the EU and Russia, but also sketching out a vision of what that partnership should lead to. This might appear a pointless exercise, given that any post-partnership future appears very remote, but goals for the future affect the direction of developments today.

The EU and Russia need to start thinking about a joint venture. Today, the idea of Russian EU membership or of an all-European, post-EU organization appears unthinkable. For one, the EU-Russian gulf in values and interests is at present enormous, and increasing with the most recent internal trends in Russia.

Yet the idea of two European blocs – the EU and a Russia-led CIS-is unlikely to take hold, as much of the CIS will be subject to the strong of the EU. And once oil prices fall, Russia will look much less like a potential powerhouse and viable hub of an alternative bloc. The EU aim has been to avoid new divisions in Europe, but mere cooperation will not forestall this. The same logic that propelled the latest EU enlargement dictates the need for further enlargement.

The formation of an all-European EU would imply profound changes in the EU, as well as Russia and other CIS states.

In one sense, the shape of the future may already exist in Russia's insistence that it have a say in EU decision-making. The EU, however, opposed to giving nonmembers a seat at the table. The only way to square that circle in for Russia and the present EU states to be members of the same organization.

At the moment, the dominant EU and Russian views are that partnership is the most that should be expected.

The EU consensus, which will be strengthened by the new member states with their historical baggage, is that Russia will never be a member of the EU. And Russia today does not aspire to EU membership.

There was , however, a brief period some years ago when there was an almost euphoric emphasis in Russia on a Europe from the Atlantic to the Urals (and beyond), common culture and destiny. Then the emphasis shifted to the CIS, and the primary strategic relationship was with the United States.

Today's dominant paradigm insists on Russia's uniqueness and great power status. There is still the occasional statement that Russia might one day apply for EU membership, but it is aired less frequently than a few years ago.

There is, however, a possibility that all this could change dramatically in the near future as a result of the ever-increasing economic importance of the EU: an eventual acceptance that Russia cannot recover superpower status: the increasing pull on the Western CIS of EU ties and an awareness that this could cause destructive competition between Russia and the EU; and the realization in Russia that the alternative to integration may be dreaded isolation.

For the EU nations, the potential security and economic gains from including Russia, as well as other CIS states, in the EU or a successor organization could be immense. It would help secure the currently very shaky fate of democratic and market reforms on Europe's bargaining power vis-а-vis other blocs. It is said that the may enlargement – following on from the single market and the euro – has left the EU without a "Big Idea". The next big project for the EU could well be to start thinking about its own supersession by an inclusive, new all-European organization.

This would inevitably be a multi-speed organization, which the current EU would become in any case. The project would be to build a commonwealth rather than an empire, which is the model of the ENP.

Despite its misgivings, the European Union is preparing to admit Romania. Core Europe, meet poor Europe. Romania and Bulgaria look ever more likely to join the EU in 2007, after being left out of this year’ s enlargement because they were to slow over political and economic reforms. Bulgaria’ s entry is the most assured, following the good marks it won in the European Commission’ s progress report. The Bulgarians now hope that the next summit will fix a date for signing their accession treaty early next year.

Romania’s progress has been wobblier. Unlike Bulgaria, it has yet to finish formal talks with the EU, though it hopes to do so by the end of the year. The negotiations are mainly about identifying areas where a candidate country can readily implement the EU’ s rule-book, and areas where it needs more time and help. Romania is still negotiating on competition policy, the environment, and justice and home affairs, where it will have the biggest problems meeting EU standards.

Romania’s life is complicated by the fact that it faces both parliamentary and presidential elections on November 28^th. There is still a long way to go. Romania has the lowest income per person in central Europe, the worst environmental standards, the biggest tax arrears, the most pervasive corruption, the highest infant mortality and the lowest education spending. Its judicial system is a mess, its media freedom questionable, and its labour so dysfunctional as to constitute “a human-asset paralysis”, in the words of a World Bank report.

The EU talks of adding a clause to Romania’s accession treaty to permit a year’s postponement, until 2008, should Romania have serious last-minute problems. But this is a fig-leaf of comically inadequate proportions. The EU has chivvied Romania along until it has reached roughly the standards and habits of the Italian south in 1960s. Now it is going to let the country in largely on trust, knowing that reforms promised today will be implemented only in years, even decades, to come. If Romania were not such a likeable and spirited place, that might seem a touch rash.

Turkey will have to accept tough conditions, including de facto recognition of Cyprus and possible permanent restrictions on labor migration, to ensure the start of European Union membership talks, a draft EU summit statement said.

The draft, circulated by the Dutch EU presidency, left the crucial wording of the decision on whether and when to open entry negotiations with Ankara blank for leaders to fill in at a Dec. 16-17 summit.

It welcomed “the decisive progress made by Turkey in its far-reaching reform process” but set a strict framework for negotiations and said talks could not be concluded until the bloc had agreed on its post-2014 budget.

Notes:

bleak – (of a situation) not hopeful or encouraging, depressing: a bleak outlook/prospect: The future looks bleak.

host of – multitude: a host of difficulties.

hub – the central and most important part of an area, system etc., which all other parts are connected to; центр внимания: York used to be the hub of a vast rail network.

misgiving – doubt or anxiety about the outcome or consequences of something: to feel a sense of misgiving; опасение; дурное предчувствие

paradigm – formal a very clear or typical example of something: paradigm for others to copy, shifting paradigms of morality.

whither- куда; wither away? куда держите путь?; wither Europe? куда идет Европа?

to chivvy (also chevy) – (participle past chivvied, chivied) coll. гонять/подгонять; to ask somebody repeatedly to do something, often in an annoying way: If you don’t chivvy the others along/up we’ll never get there on time.

to leave blank – (of a document, etc.) to leave with empty spaces for writing answers, a signature etc.: a blank form

Active Vocabulary:

arrears – 1. отставание (в работе); 2. просрочка;

to air – 1. to ventilate проветривать, to dry высушить; 2. to air one's knowledge – выставлять напоказ свои знания; to air one's grievances – высказать, высказывать свое недовольство;

compliant – уступчивый, податливый, послушный; угодливый;

compliance – 1. выполнение, соблюдение (положения, договора); 2. согласие;

supervision of compliance – наблюдение за выполнением (соглашения);

to assure compliance – гарантировать выполнение;

to check up on somebody' s compliance with the treaty – проверить выполнение договора кем-либо;

to ensure compliance with treaty obligations – обеспечить выполнение обязательств по договору;

compliance to give evidence as a witness – согласие дать свидетельские показания;

hegemonic – руководящий, господствующий;

hub – центр внимания, интереса или деятельности;

to forestall – предупреждать; предвосхищать, опережать;

to forestall the market – скупать товары ( с целью повышения цен);

incentive – 1. побудительный мотив, стимул, побуждениe;

to give somebody incentives – дать стимул кому-либо;

to eliminate the incentive to the production of all kinds of weapons – устранить стимул для производства всех видов оружия

incentive – 2. pl экономические побудители, премиальные системы оплаты труда;

incentive – 3. поощрение, льгота;

economic(al) ~ – экономический стимул; экономическое стимулирование;

export ~ – стимулирование, поощрение экспорта; экспортные льготы;

incentive pay – поощрительная оплата;

incentive wage – амер. прогрессивная система заработной оплаты;

material ~ – материальный стимул; материальная заинтересованность;

price incentives – ценовые стимулы;

production incentives – производственные стимулы;

tax incentives – налоговые стимулы;

power house, powerhouse – центр власти, влияния; место, где решаются вопросы, определяется линия действия и т.п.

pervasive – пронизывающий, распространенный.

Exercise 1. Give Russian equivalents:

to be preoccupied with a host of internal problems; to secure the currently very shaky fate of democratic and market reforms; to secure peace and prosperity in Europe; to be a potential powerhouse and viable hub of an alternative bloc; the degree of intrusion; to dictate the need for further enlargement; to be a powerful tool for influencing other countries; to cause destructive competition between the countries; to recover superpower status; to build a commonwealth rather than an empire; to imply profound changes; to cushion the blow; to accept though conditions; to include de facto recognition; permanent restrictions on labor migration; a far-reaching reform process; to set a strict framework for something; to open entry negotiations with somebody; to leave blank

Exercise 2. Study the following information about the polysemous (=a polysemous word has two or more different meanings) verb to spell and translate what follows:

to spell

1. to write or name letters in sequence;

2. to spell out: to decipher slowly; fig. make explicit разжевывать, точно детально объяснять; My request seems simple enough – do you want me to spell it out for you?

3. of letters: to make up;

4. to signify;

5. to relieve, сменять, сменить

Translate the following:

1. Как пишется ваша фамилия? 2. Он даже не может правильно написать свой адрес! 3. Когда вы научитесь писать без ошибок? 4. Я с трудом разбираю, что здесь написано. 5. Какое слово составляют эти буквы? 6. Эти перемены сулят несчастье. 7. Это будет означать попытку сторон сблизить различные точки зрения и разрешить разногласия по данному вопросу. 8. Мы произносим не так, как пишем. 9. У него хромает орфография (он с орфографией не в ладах)(to be a poor speller). 10. Разъясните, пожалуйста, четко, какие конкретные шаги в области активизации отношений между странами ЕС и Россией были предприняты за последние пять лет?

Exercise 3. Learn the following collocations with to spell and to spell out and make up sentences of your own:

(collocation – is the way words combine in a language to produce natural-sounding speech and writing)

to spell

Adverb: correctly, wrongly

Prepositions: 1. as The article spelled 'survey' as 'servay'. 2. with Is 'necessary' spelt with one 's', or two?

Phrasal verb to spell something out:

Adverb: clearly/fully/in detail/exactly precisely; She spelled out precisely what she wanted.

Preposition: for; Do you really have to spell it out for you? to His speech spelled out a clear message to the car industry.

Exercise 4. Study the inversion usage with the modal should and translate what follows:

An inversion of subject and verb may be used instead of if in the conditional clause: Should you need my assistance, just let me know. (= If you should need my assistance, just let me know.) This happens with were and had; very rarely with other auxiliary verbs.

This type of inversion occurs in both the written language and (though less commonly) the spoken.

Придаточные предложения условия с формой should + инфинитив при переводе на русский язык обычно начинаются со словами в случае если бы…

Translate the following:

1. The EU talks of adding a clause to Romania’s accession treaty to permit a year’ s postponement, until 2008, should Romania have serious last-minute problems.

2. Should EU leaders nominate a new president of the European Commission for the next five years, the constitution would not be the only subject on the agenda.

3. Should this be a dominant subject at any normal summit, the agreement could be reached at once.

4. Should the debate become less genteel, the work of all those worthy committees on fish quotas and chemical regulations could be disrupted.

5. Should the parliament become more reflective of the true breadth of European opinion, in all its diversity, this week’s elections could yet raise its standing in Europe.

6. Should it be unacceptable to smaller countries, the likely outcome would be a compromise and every country would keep a commissioner until 2014, at which point the commission would shrink to 18 members.

Exercise 5. Read the text below and then give a brief report addressing the listeners using the following helpful phrases: