Could France Fall Into a Financial Crisis?
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France has a big money problem. The country owes a lot of debt. Debt means money that a country must pay back.
A French newspaper says France could fall into a financial crisis. A crisis is a very bad, dangerous situation.
The newspaper calls France's public money problems a 'French shame.' This means people feel bad about it.
There is worry about the ECB. The ECB is the European Central Bank. It helps control money in Europe.
The ECB may need to help save France from its debt crisis. This would be hard and difficult for the ECB.
If France has a big crisis, it could spread to other countries. This is called contagion. Contagion means a problem moves from one place to another.
Many countries in Europe use the same money, called the euro. This group of countries is the eurozone.
If France's crisis spreads, it could hurt the whole eurozone. This makes European leaders worried.
Experts say France must fix its public finances. Finances means money matters, like spending and saving.
Right now, nobody knows exactly what will happen next. People are watching France's money problems closely.
Vocabulary15 words
- debt
- money that must be paid back
- crisis
- a very bad, dangerous situation
- ECB
- the bank that controls money for Europe
- contagion
- when a problem spreads from one place to another
- euro
- the money used in many European countries
- eurozone
- the group of countries that use the euro
- finances
- money matters, like spending and saving
- public
- belonging to the government, not a person
- save
- to stop something bad from happening
- spread
- to move and cover more places
- worry
- to feel bad about a possible problem
- newspaper
- a paper with daily news
- problem
- something difficult or bad
- country
- a nation, like France
- money
- what people use to buy things
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Quiz
Answer key
1. Too much debt 2. The European Central Bank 3. True
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
France has a big money _____.
The country owes a lot of _____.
A French newspaper says France could fall into a financial _____.
There is worry about the _____.
The ECB may need to help save France from its debt _____.
If France has a big crisis, it could _____ to other countries.
This is called _____.
Many countries in Europe use the same money, called the _____.
This group of countries is the _____.
Experts say France must fix its public _____.
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