Insurance (保险) is the sharing of risks. Nearly everyone is exposed to risk of some sort. The house owner, for example, knows that his property can be damaged by fire, the ship-owner knows that his vessel may be lost at sea; the breadwinner knows that he may die at any early age and leave his family poorer. On the other hand, not every house is damaged by fire nor every vessel lost at sea. If these persons, each put a small sum into a pool, there will be enough to meet the needs of the few who do suffer loss. In other words, the losses of the few are met from the contributions of the many. This is the basis of insurance. Those who pay the contribution are known as insured and those who administer(管理) the pool of contributions as insurers.
The legal basis of all insurance is the policy. This is a printed form of contract on stout paper of the best quality. It states that in return for the regular payment by the insured of a named sum of money, called the premium(保险费
A. a legal agreement
B. a check to be cashed at the bank
C. money paid by the insured
D. a particular kind of insurance
The euroskeptics contend that the risks of monetary union far outweigh any advantages it may bring. Since exchange rates can (1) be used to offset the strains of different economic conditions prevailing in various member countries, growth and employment problems are inevitable, they say. The resulting political pressures will (2) to demands for large intra-union (3) payments. And (4) political resistance to such payments is inevitable, skeptics regard the EMU as a (5) to further European integration.
The (6) of the EMU is groundless. The countries that will soon formally renounce the right to adjust their nominal exchange rates are not (7) up anything they have not already voluntarily surrendered as part of preparations for monetary union. In the past years not one of the 11 founding members of EMU has (8) in order to enhance its (9) . What better proof of the determination and (10) of the European coun
A. opponents
B. aspirants
C. candidates
D. rivals
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