Activities

• Read the telephone conversation. Make up your own conversation, changing the circumstances the way you like.

Role-play Job Opportunities

Imagine that you are exchanging views on job opportunities for graduates and postgraduates at an international workshop on human development.

Any table would do. - Нам подойдет

любой столик.

table d'hote - дежурные блюда a la carte — порционные блюда prawn cocktail — салат из креветок It's the special! I} of the house. - Это фир­менное блюдо нашего ресторана. Is the dish hot? - Блюдо острое? spicy food - пряная пиша What do you think we should have to fol­low? — Как вы считаете, что мы должны .iaкалать дальше?

mutton chop — отбивная и:) барани­ны

cauliflower n - цветная капуста

delicious adj - вкусный

for dessert — на десерт

Wouldn't you care for something a little stronger? — He хотите ли чего-ни­будь покрепче?

service charge - плата за обслужива­ние

The Financial System

• a) Read and translate the text, b) Answer the comprehension questions to the text, c) Render the text.

Text A The Financial System

The financial system of a developed country is a network of finan­cial institutions comprising organisations carrying out and regulating financial activities, the ministry of finance, the treasury, the central bank, the tax service, stock and currency exchanges.

Financial activities embrace budgeting, financing, investment, banking, taxation and insurance. Financial assets flow in the system from savers, who act as sources of funds, to borrowers, who use them. Savers and borrowers in the system are linked by financial intermediar­ies — banks, finance, investment and insurance companies. Banks oc­cupy a central place in any financial system.

Historically the heart of financial services industry in Britain has been located in the famous "Square Mile" in the City of London.'The City is one of the largest financial centres in the world.

15R

Unit 4

II- The Financial System

159

Exercises

Ex. 34. Find in Text A English equivalents for the following Russian phrases:

financial adj organisation n regulating adj

Ex, 36. e) Read (he text and translate it into Russian, b) Say what role banks play in any financial system.

Banks play a very important role in any financial system. Most typically banks open accounts for their clients and receive money on current and de­posit accounts. These funds are used by them to provide loans or for invest­ment. Apart from these functions bankers perform many other functions of great value to their clients. Banks collect cheques, discount bills of exchange, transfer money, buy and sell securities for their clients, take charge of their clients' valuables.

As a rule, commercial banks in a country are supervised by the central bank, which acts as the government's banker. Among olher functions central hanks have the sole right to issue banknotes and to license retail banks.

Words and word combinations you may need

There are more overseas banks in the City than in any other finan­cial centre. The banking sector in Britain accounts for about a fifth of lotal international bank lending.

The world's largest financial markets - the London Stock Exchange, the Foreign Exchange Market, the Financial Futures and Options Market, eurobond and eurocurrency markets, the world's largest in­ternational insurance market — are also located there.