The UK government is to sell ￡2bn of shares in Royal Bank of Scotland, marking the start of the country’s biggest privatisation and a milestone¹ in its recovery from the global financial crisis. 英国政府将出售20亿英镑的苏格兰皇家银行(RBS)股票，这标志着英国最大规模私有化的开始，也是英国从全球金融危机走向复苏进程中的一块里程碑。

An initial tranche of shares representing a 5.2 per cent per cent stake in the state-backed bank was placed with institutional investors² last night as the government begins the process of selling its 78 per cent stake, which is worth ￡32bn at the current share price.

昨晚，这家政府支持的银行首笔5.2%的股份向机构投资者进行了配售，标志着政府开始出售其所持的苏格兰皇家银行78%的股份（按当前股价计算，这部分股份价值320亿英镑）。

The start of RBS’s privatisation represents a watershed³ moment in the return to health of what was once the world’s biggest bank by assets, before it became one of the most spectacular victims of the financial crisis and was bailed⁴ out by the UK state with a record ￡45bn.

苏格兰皇家银行启动私有化，代表着该行恢复健康过程中的一个分水岭时刻。该行曾是世界资产规模最大的银行，后来成为金融危机最大的受害者之一，不得不由英国政府进行创纪录的450亿英镑纾困。