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The European Parliament is strongly in favor of regulating, but is under pressure to give banks a chance to compromise. One possibility is that the proposed deadline for regulation to begin, January 2003, will be extended to give banks more time to solve the problem. The European Central Bank is in favor of such an extension. But it does not want cheques to be included in the regulation, arguing that these are an inefficient payment mechanism that should be discouraged even at local, let alone cross-border, level.

The main idea of the paragraph

Reforms are going on with the banking services, but opinions differ as to how far the reforms should go.

正在银行服务进行改革，但是，改革要走多远人们的意见各不相同。

句子分析

But it does not want cheques to be included in the regulation, arguing that these are an inefficient payment mechanism that should be discouraged even at local, let alone cross-border, level.

在此句中

1）“it does not want cheques to be included in the regulation”是主句

2）“arguing that these are an inefficient payment mechanism that should be discouraged even at local, let alone cross-border, level”是现在分词短语，作伴随状语，表示和“does not want”同时发生的动作。其中：
　　（1）“that these are an … level”是充当“arguing”宾语的从句
　　（2）“that should be discouraged even at local, let alone cross-border, level”是限制性的定语从句，修饰名词“payment mechanism”

词语解释

be under pressure to do something　在压力下做 …

e.g.

1）The minister was under pressure to resign. 部长在压力下辞职了。

2）He was under pressure from his parents to become a teacher. 他在父母的压力下去当了老师。

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• Summary