【经济学人】本周要点回顾|2016.12.13|总第739期

After months of haggling OPEC members agreed to the first cut in oil production in eight years. Non-OPEC members are expected to chip in with a cut of their own. Iran, which had been reluctant to reduce output so soon after returning to international markets, agreed to a token increase. The deal will reduce global production by almost 2%. Oil prices jumped in response. See article. 

历经数月的讨论后，OPEC（石油输出国组织）成员国最终达成一致，同意在未来8年内实行石油的首次减产。非OPEC成员国预计也会减少其石油产量。伊朗拒绝在回归国际市场后不久后减少油产，同意只象征性地增加石油产量。此协议将使全球石油产量降低近2%。油价也会随之攀升。见文章。

Property bubbling

房地产泡沫

The Case-Shiller national index of home prices in America rose to a new peak in September, climbing 0.1% above the previous peak reached in July 2006, before the bust in the housing market (adjusted for inflation, the index is still 16% below that mark). The index increased by 5.5% in the 12 months to September, helped by buoyant markets in Dallas, Denver, Portland and Seattle. But house prices in cities in the forefront of the previous boom, such as Las Vegas, Miami and Phoenix, remain well below their all-time highs.

凯斯-席勒全国房价指数于9月份达到一个新高峰，这比2006年7月份房地产市场（已通过通货膨胀调整，但是当时的指数任低于基准线16个百分点）萧条之前出现的上一个高峰值高出0.1%。受达拉斯、丹佛、波特兰和西雅格等地区活跃的房地产市场的影响，该指数在直到九月份的过去12个月内增长了5.5%，直到9月份。但走在上一次经济繁荣最前列的城市，比如拉斯维加斯、迈阿密和菲尼克斯，它们的房价仍远低于之前的最高记录值。

• Bust: 破产、倒闭

房地产价格走势

The OECD gave the thumbs up to Donald Trump’s plan to boost infrastructure spending, saying it would boost America’s economy, which is projected to grow by 2.3% next year, well above the 1.5% forecast for this year. But the organisation also warned that “an increase in protectionism could risk impairing already weak growth in global trade”.

OECD（经济合作与发展组织）对唐纳德特朗普增加基础设施开支的计划大加赞许，称之会大大提升美国的经济水平，预计其明年经济增长速度为2.3%，远高于今年预测的1.5%。但同时经合组织同时也发出警告：“保护主义的势力壮大，可能会进一步削弱已经低迷的国际贸易。”

Meanwhile, America’s economic growth rate in the third quarter was revised to an annualised 3.2%, up from an initial estimate of 2.9%. Consumer spending was stronger than had been thought. Rising workers’ incomes also helped.

同时，美国第三季度的年度经济增长率已从初始预计的2.9%，更改为3.2%。消费性开支比预想的要更高。同时劳动者工资收入的提高也促进了经济的增长。

Mark Carney, the governor of the Bank of England, warned about the increasing level of household debt in Britain. The debt-to-income ratio is the highest since 2013. Unsecured debt accounts for a bigger chunk of this. The share of high loan-to-value mortgages (those greater than 90%) has nearly doubled since 2012. Over that same four-year period outstanding credit-card loans rose by £10bn ($15bn), hitting £66bn in October.

英格兰银行行长Mark Carney发出警告说，英国目前家庭负债呈上升状态。负债收入比达到自2013年以来的最高值。在所有家庭债务中，无担保债务占据了绝大部分比例。而贷款价值比例较高的（大于90%）按揭抵押贷款自2012年以来几乎翻了一倍。而在同样的4年内，未偿还的信用卡贷款额增加了100亿英镑（150亿美元），于10月份攀升至660亿英镑。

A suspected cyber-attack caused almost 1m customers of Deutsche Telekom to lose their broadband connection. Hackers are thought to have targeted households’ internet routers with a software virus that disrupted their service. The code for the virus has been used before in other attacks on devices that retain the same passwords issued by their manufacturers.

一次可疑的网络攻击阻断了100万名德国电信客户的宽带连接。据猜测，黑客将目标对准了家用路由器为目标，利用软件病毒干扰服务信号。该病毒代码在以往针对那些保留着出厂密码设置设备的攻击中被黑客使用过。

Split personalities

多重人格/人格分裂

The European Court of Justice began hearing legal arguments about whether Uber is a transportation firm or a digital service. The closely watched case has been taken to the EU’s highest court by Barcelona’s established taxi drivers, who, like taxi drivers the world over, complain that Uber has muscled into their market by circumventing local transport regulations. Uber says it is an “information-society services provider”.

欧洲法院就Uber（优步）究竟是一家运输公司还是一家数字化服务公司的法律纠纷展开了听证会。这个受到密切关注的案件已被巴塞罗那有名的出租车司机们提交到了欧盟的最高法院。这些有名的出租车司机抱怨优步通过规避当地的交通法规，强行挤入出租车市场。对此，优步称其只是信息社会的服务提供商。

Pilots at Lufthansa went on strike again, causing the German airline to cancel thousands of flights. A dispute between management and cockpit and cabin crews over pay and conditions has dragged on for years. The strikes cost Lufthansa up to €15m ($16m) each day they are held. Siemens, an engineering company, this week called on both sides to reach an agreement because the strife was damaging Germany’s image.

Lufthansa（德国汉莎航空公司）的飞行员又罢工了，迫使该德国航空公司不得不取消了近千次航班。管理层与驾驶舱和机场工作人员之间就工资和工作环境的问题已争吵数年。罢工致使汉莎航空公司每天的损失高达1500万欧元（1600万美元）。西门子（一家工程公司）于本周呼吁双方能尽快达成共识，因为此次罢工损害了德国的形象。

In a surprise move, India’s central bank ordered the country’s banks to transfer what amounts to half the cash deposited with them since the withdrawal of 500- and 1,000- rupee banknotes to its reserves.(读者试译) As people rush to beat a year-end deadline to deposit the notes in accounts, the banks have used their newfound wealth to buy bonds, unsettling the central bank’s inflation hawks.

（期待您的翻译，明天会有针对这句话的读者试译详解哟~）由于人们争先恐后地想赶在年底最后期限前将钞票存入账户中，而银行拿这些新存入的资金去买了债券，使央行的“通胀鹰派”（通货膨胀的坚定反对者）人士感到不安。

Banca Monte dei Paschi di Siena, a distressed Italian bank, took the first step in its recapitalisation plan by offering to swap €4.3bn ($4.6bn) in subordinated bonds for equity. The bank is trying to raise capital amid uncertainty about the outcome of Italy’s constitutional referendum on December 4th. If the government loses the vote, Italy’s banks are likely to be hit hard in the markets.

邦卡蒙台达电子锡耶纳牧山银行（一家状态低迷的意大利银行），通过将43亿欧元（46亿美元）的次级债券中换成普通股，迈出了资本结构重组计划的第一步。尽管意大利于12月4日宪法公投的结果还不明朗，该银行正努力集资。如果政府落选，则意大利银行很可能在市场竞争中遭受重创。

翻译 ▍栏目二第六组

审核 ▍椰子

编辑 ▍毛毛

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