Words in the News
Friday 20 September 2002 Vocabulary from the business news. Listen to and read the report
then find explanations of difficult words below.
Greek Euro protest
Summary: In Greece, a consumer organisation trying to bring prices down to pre-euro levels has threatened a new wave of economic boycotts. From Athens' main market, just near Omonia Square, this report from Malcolm Brabant:
Officially inflation in Greece has just risen above three percent but some campaigners believe the true figure is nearer six percent. So tomatoes and other staples of the Mediterranean diet have been crossed off the shopping list this week. Traders have been subjected to a second boycott within a month in an attempt to bring prices back down to pre-euro levels.
This man has been taking part in the boycott: 'We adored the drachma, he says –'the euro has been responsible for wreaking havoc with market prices. It's dreadful having to pay more than three times as much for tomatoes.'
The Greek government is planning to send out squads of inspectors to crack down on profiteers. It's also considering reintroducing recommended prices. But whether these measures will work is open to question. What is effective quite clearly is consumer power.