Source: LeapBy Rudo de Ruijter*06/06/2009Sometimes money is compared with the blood of the economy. The credit crisis painfully demonstrated, that the economy depends on a permanent infusion of credits. As soon as the banks deliver a bit less credit, enterprises fail and the mass dismissals succeed each other.We are made to believe, that the problems with the subprime mortgages were an incident. With...
Friday, June 12, 2009
Is the Euro Doomed? (2)
Source: The Daily Reckoning06/11/09 Baltimore, Maryland Despite all the U.S.’ woes, the dollar is holding pretty steady. The dollar index is just a hair lower than yesterday, now at 79.8. Thus, the dollar’s major competitors are just a few cents off recent 2009 highs… euro: $1.40, pound: $1.64, yen: 97.Interestingly, the pound is currently at a 2009 high versus the euro, at 85 pence. Trader...
Is the Euro Doomed?
Source: Counter Punch (from Le Monde Diplomatique)Solution of Last ResortIs the Euro Doomed?By LAURENT JACQUEWill the tsunami devastating the global financial system undermine the stability of the euro? Its advocates say not. Doomsday scenarios of a partial break-up of the Eurozone have, as yet, failed to materialise. They argue that, over 10 years, the Eurozone has become a haven of peace and...
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