Unit+3+Loans+for+the+Dream

1、Unit 3 Loans for the DreamWhere does all your money go in your family? This has something to do with expenditure. A company also has its expen diture. What do you thi nk are some of the items a company must spend money on?dep reciatio n: falli ng in valueoverdraft: a sum lent by a bank to a person w

2、ho has overdraw ncollateral: valuable prop erty pro mised to a len der if one is un able to repay a debtlife p olicy: an assura nee to be p aid after the death of the persondeed: a legal document that is an official record of an agreement or official proof thatA. The follow ing words and p hrases wi

3、ll app ear in this un it. Liste n carefully and study the defi niti ons.1.2.3.4.5.some one owns land or a buildi ng6. securities: investment in a company or in government debt which can be traded on the finan cial markets and which p roduces an in come for the in vestor7. bala nee: the amount of mon

4、ey you have in a bank acco unt, or the amount of someth ing that you have left after you have spent or used up the rest8. due date: the date on which someth ing is exp ected to happen, esp ecially the date on which a sum of money is exp ected to be p aid9. econo mic bubble: a phenomenon in econo mic

5、s in which too much loose cash finds its way into an area of the market, resulting in a buying frenzy that leads to wildly inflated prices. Econo mic activity in those areas affected is not susta in able in the long run, so large nu mbers oflate in vestors eve ntually go bankrupt.10. finance: provid

6、e the money needed for something to happen11. dime: an American or Canadian coin which has the value of ten centsB. Liste n to the followi ng dialogues. Comp lete the exercises.Dialogue one: Tick the expen diture items men tio ned by the sp eaker.ItemsTheatre and other arts eventsStocks and sharesAn

7、 tiquesVCarsItemsCharitiesEati ng out VHobbies (DIY, sailing, etc.) VFood and groceries VDialogue two: CompI ete the chart. Use ticks to in dicate whether the expen ditures on those items are up, dow n or the same as last year. Supply the figures men ti on ed.ItemsSameUpDow nFiguresEn terta inmentV2

8、,566Dep reciati onV300Secretarial expensesV.Motor expen sesV2.612Audit&acco untancy costsVTele phone&po stageVHalf as much as last yearAudioscri pt:Dialogue one:B: rd like that. I wan ted to ask you about holidays. Do you usually go abroad or stay in this coun try?A: We usually stay here. Ln fact, w

9、e spend very little on holidays. We have a small house n ear the sea and we usually go there. Thats where I do my saili ng. We did go away for a week last year, but that was exce pti on al.Dialogue two:A:B:A:B:A:B:A: You asked me where all the money goes. Its difficult to say exacdy, but obviously w

10、e spend a lot of money on groceries. I enjoy cook ing, and as we have a large family four childre n our food bill is quite big. Wc also like eati ng out my wife and I p robably go out to a restaura nt about once a week. Unfortun ately, there are no theatres round here, so we dont go to the theatre a

11、s much as wed like. But we do spend money on our hobbies. I like doing jobs around the house rm one of the local DIY cen ters best customers and rm very kee n on saili ng thats a very expen sive hobby. Im also very in terested in an tiques, esp ecially clocks. You must let me show you my collect ion

12、 one day .So how much did we spend on en terta inment this year?2,566.Thats dow n a little on last year. And whats the figure for dep reciati on?300, the same as last year.Hm, expen diture on secretarial expen ses is up.Yes, theres a big in crease there.A:B:A:B:A:B:A:B:Whats the figure of 2,612 for?

13、Wheres that?Six figures dow n.Thats motor expen ses.And what does this figure rep rese nt?Audit and acco untancy costs.Theyre both up a lot.Yes, but expen diture on tele phone and p ostage is dow n. Its half as much as last year.Part II Rais ing money for buying a carOwning a car is p erha ps a drea

14、m for many peop le. However, buying a car requires a lot of money.How can you realize that dream? Turn to the bank for help.A. Liste n to the dialogue. Take no tes. Then compi ete the summary.Summary:Mr. Jacks on works in the college with a good salary. As his old car is too old to be worth repairin

15、g, he would like to have a newer one. Since he can get about a hundred pounds for the old car, he wants to raise some money, three hundred fifty to four hundred overdraft, from the bank.The bank manager suggests two kinds of loans with different interest rates and conditions: a Personal Loa n and an

16、 Ordinary Loa n. Mr. Jacks on is exp ected to repay the money within 24 mon ths.B. Now try this: liste n to a more authe ntic vers ion of the dialogue. First compi ete the chart to show the differences between the two loans. Then try to find the English equivalents of the Chin ese exp ressi ons list

17、ed.security charged to the bankin terest chargedratein terest rate calculated onpersonal loa nX7%the orig inal amount take nordinary loa nV7.5%a day -o-day basis1.2.3.4.5.6.7.8.9.透支額（貸款）overdraft 償還 repayment 短期貸款 short-term basis 付利息 pay interest on 擔保物 collateral 壽險 life policy 房屋的房契 deeds of the

18、house 政府證券 government security 憑證 certificate10. 按日計算 on a day-to-day basisAudioscri pt:J Mr. Jackson B Bank Man agerB: Well, good after noon, Mr. Jacks on.J: Good after noon. Ive come to see you to see whether its po ssible to . get an overdraft. Im . I want some mon ey. Yes ril tell you quite fran

19、 kly what it is. Im wan ti ng to buy a new car. （Yes I dont know whether its p ossible to raise any money from the bank in this way. B: Er, I see no reas on why not. J:ve got an old car . B: Whats your propo siti on?J: Well, Ive got this old car which is an eight-year-old Morris 1000, and I dont thi

20、nk theres any point in hav ing it rep aired any more because it just isnt worth it. I feel that I could p robably get about a hundred pounds for it and then that means that I would need about another four hundred-odd, three hundred and fifty . MhmJ er, on top of that, to buy a,a, not a new car exact

21、ly, but a newer one. Mhm Urn,.B: Do you use the car for your business, for your work?J: Er, yes I do, up to a point. That is to say, sometimes I take it to work and sometimes I dont, because Im almost within walking distance of the College. Mhm Does this have some bearing on the, on the question of

22、whether I can get an overdraft?B: No, I dont think so. I, er, it was just a matter of interest that I asked you, really. You think three hundred and fifty?J: I would say about three hundred and fifty to four hundred. With the other, with the other Yes hundred pounds then it would be about, er, five

23、hundred pounds; well, one can get quite a decent car for five hundred pounds Quite second hand, of course.B: Quite. And what sort of period of time could you repay us?J: Well, erm, this rather depends on you. Um, I would like to . I, er, what is the normal procedure for such a sum of money?B: Well,

24、for such a sum of money we could (would) expect repayment within 24 months.J: Two years?B: Two years.J: I see.B: We are lenders in the short term, remember, not long term.J: Yes. Er, is there . Do you, do I pay interest on this?B: You will pay interest on well, the type of loan I have in mind is a P

25、ersonal Loan, as I assume youve got no form of collateral to offer.J: What is what is collateral?B: Well, have you any shares in any companies or life policies, deeds of houses, or anything like that?J: I have some Government Securities, is . would this be . sufficient?B: You have some Government Se

26、curities, and what is their value?J: Er, its about.B: Have you got the certificates?J: . eight hundred pounds or so.B: About eight hundred pounds?J: Yes, but I dont want to.B: You dont want.J: . cash them.B: No. No, well you wouldnt. that wouldnt involve you in cashing them.I could grant you an Ordi

27、nary Loan where the interest to you would be less than on a Personal Loan, if you were willing to charge that Share Certificate to us.J: Yes. I see, um, er, is it, is it possible to er . whats . that, that would be the only security which you would need, in fact?B: I shouldnt need any other security

28、, other than that . I see not on a loan, not on a loan of that size. Or if you would agree to do it on a Personal Loan basis which cough I would not require any security whatever, as on a Personal Loan we have death cover and you are in regular employment, er, in, er, good-sala-ried employment, with

29、 a with a good, with a good salary, therefore I would not ask you for erm, any security. Yes. Yes. But the interest rate would behigher tha n on an Ordinary Loa n. Yes I should charge you seve n percent on a Personal Loa n and thats on the origi nal amount take n, whereas on an Ordinary Loa n it wou

30、ld be at one and a half p erce nt over Bank Rate, minimum six percent, and that would be calculated on a, on a day-to-day basis, so it docs in fact work out chea per.J: I see. Yes.Part III Credit cardsCredit cards have take n an imp orta nt role in our life. Cardholders use it to buy goods and the n

31、 to receive a stateme nt every mon th. However, using a credit card can be very expen sive. Do you know why?A. Liste n to a min i-lecture about credit cards give n by Young America n Bank. CompI ete the outli ne.Outli neI.II.The importanee of credit cardsNatureA:“ charge-” paying at a later dateIII.

32、B: “l(fā)imit ”The poten tial disadva ntages expen siveA: easy to make lots of purchases on cardB: likely to pay a treme ndous amount of interestIVThe ben efitA: in dis pen sable in lifeB: helpful for emerge nciesC: good for travelD: in suri ng pu rchaseB. Now try this: liste n to a more authe ntic vers

33、ion of the material.Audioscri pt:Credit cards are an important part of American life. Whether we have a positive or negative image of credit cards, they are an in esca pable part of our finan ces, either now or in the future. Without a credit card, its just about impo ssible to rent a car, make a ho

34、tel or airl ine reservati on, or even get a membersh ip at a video store.Since credit cards are so imp orta nt, yet so many people are in finan cial trouble because of them, we feel educati on is extremely imp orta nt. We want to show our customers that credit cards are not toys; they are an imp ort

35、a nt respon sibility.A credit card can be used to charge th ings like clothes, tapes or CDs, dinner at a restaura nt, or maybe a hotel room while youre on vacati on. When you charge somethi ng, you are agree ing to pay for your pu rchase at a later date. Basically, you are buying someth ing now and

36、paying for it later.Credit cards come with a limit. Lets say your credit card has a limit of $100.00. That means you can charge up to $100.00 worth of items on your card. You will get a stateme nt in the mail each month that lists the charges you have made. You will also have to make a p ayme nt eve

37、ry month that you have a bala nee owing.Since were about educati ng our customers on the realities of credit and credit cards, were going to be p erfectly hon est. First, using a credit card can be very expen sive. Banks dont offer credit cards just because they like you. They offer them because the

38、y make money whe n customers use credit cards.How do they make mon ey? When you charge someth ing on a credit card, you not only will have to pay for what you bought, but you will also have to pay in terest, or a finance charge, if you dont pay your hill in full by the due date. The finance charge i

39、s your extra cost for havi ng somethi ng now and paying for it later. The interest rate on a credit card can be 15% or even higher. If, however, you pay your bill in full every month by the due date, you do not have to pay in terest.And of course, we highly recomme nd you do that!Its very easy to ma

40、ke lots of pu rchases on your card and the n be surp rised at how quickly they add up whe n your bill arrives! If youre not careful whe n you use a credit card, you could find yourself in a lot of debt.And it always takes much Ion ger to pay it off tha n to spend it.You will also want to be careful

41、about buying things with credit card you would nt no rmally be able to afford. Aga in, you can get in over your head and end up paying a treme ndous amount of in terest.However, whe n used correctly, credit cards can be very help ful. Its sometimes hard to do certa in things without a credit card. C

42、redit cards are also helpful for emerge ncies and are good for travel. Some credit cards even in sure your pu rchase, meaning if someth ing is lost, stole n, or broke n, it can be rep laced.We believe the best way to become respon sible with credit is to lear n through han ds-on exp erie nee. If you

43、 beg in at a young age with a low limit, you wont be likely to blow it and get i n finan cial trouble later on.Part IV More about the top ic: The Great Ruro CrisisMichael P ortillo, former UK Con servative Party p oliticia n and Cabinet Mini ster, is on his way to debt-stricken Greece. He believes t

44、hat the Euro crisis must have shaken the Greeks faith in Europ es sin gle curre ncy and won ders if therell be a desire to revert to the free-float ing Drachma. With tensions rising in the Eurozone, is this the moment it becomes more united, or will it be p ulled apart?In this sect ion, you are goin

45、g to hear part of a docume ntary on the Greek finan cial crisis. While liste ning, note dow n the key words in the no tes colu mn. Then fill in the gaps in the follow ing chart to make a comp aris on betwee n Greece before and after joining the Euro.Greecebefore joinin 雷 the Euro10 years after joini

46、ng the EuroInccmjuonal Airportokl-fdsJiionednew and. Llirterent,put upCurrenevTDnichiTia+ eatsv tuGreek mmatoes a rd olivesmade Cireccc and sucked in1 .ifestyleweekend trips toqjringing up, huge diiiounts of spending in* weekend TripsDOCreditGreeted deficit with ticniianvfromtnin 6 vearsType of Cars

47、during the SOsAudioscri pt:Narrator: Arrivi ng at Athe ns New Intern ati onal Airport, there is no obvious sig n that Circece is in dire straits. It all looks pretty normal, but ten years after joining the Euro, this country is effectively bankrupt and the gover nment has put the air port up for sal

48、e.Michael P ortillo: I have nt bee n to Greece for 20 years since I came as a gover nment mini ster. And Athe ns just had an old-fashi oned air port in those days, had a differe nt locati on from this beautiful new one. And Greece had its own currency, the Drachma. Since then the country has bee n t

49、hrough an econo mic boom, whe n borrow ing was chca p and the gover nment and the people went on a spending bin ge, now have come the years of bust. And I believe . that Greeces crisis is due to havi ng joined the Euro. How did all this come about?BBC Host: The launch of the Euro is the daw n of a n

50、ew age, accord ing to the European Cen tral Bank, as 12 coun tries take the plun ge.Narrator: The Euro was in troduced on New Years Day 2002.Joining it was suppo sed to help weak econo mies like Greece, catch up with their richer euroz one partn ers.Michael Portillo: ve come to pay my respects at th

51、is shrine to the Drachma, Greeces last national currency. It gave up the right to print its own money in favor of joining a broader European dream .In my view, a weak economy like Greecc should n ever have shared the same curre ncy with Germa ny, the econo mic po werhouse of Europe. The weak Drachma

52、 made it easy to export Greek tomatoes and olives. But being part of the stronger Euro has made Greece uncomp etitive and sucked in manu factured imports.Narrator : And this is just the sort of manufactured import that flooded into Greece once it had joined the Euro. The Greeks went on a buying spre

53、e of Germa n luxury cars, cars like the Porsche Caye nne.Michael Portillo: This car and the Euro were launched in the same year, and their stories are in tertw in ed. Produced by the tech no logical wizardry of Germa ny, the middle classes of non-industrial Greece aspired to own it. And this car tur

54、ned into the symbol of German manu facturi ng might and the Greek econo mic bubble.Narrator: To help me to un dersta nd just what happened in Greece after it joined the Euro, I have arranged an appointment with a man, who has taken a special interest in the origin of Greeces debt crisis.Michael Port

55、illo :Hi, Jas on, how are you? Hi, Michacl! How are you?Narrator : Econo mist and hedge fund man ager Jas on Manolopou los.Michael P ortillo : Tell me, a lot of people think that the figures to en able Greece to join the Euro were rigged. You know, the figures on the deficit and so on. Is that true?

56、 Were the figures rigged? Common ack no wledgeme nt that they were rigged. Everybody in the European Commissi on also knew it. But aga in Greece joining was a p olitical p roject back the n rather tha n a purely econo mic p roject. Describe for me those boom years after Greeces joined the Euro aroun

57、d the times of the Olympi cs, what was it like?Jas on: You get all these fancy villas springing up, you had huge amounts of spending in luxury goods, people tak ing weeke nd trips to Paris rather tha n going to their local village. A huge sen se, you kno w, just a gen eral sense of eup horia. Everybody was happy going out. Greece had won the Football of the Euro. With the Oly mp ics, it was like a dream coming true. People were allowed to have a lifestyle that they had nt enjoyed p reviously. At one point in time in 2010, there wer