Word: crunches
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...investors over the past several years of borrowing yen at a low interest rate and investing the funds in currencies paying higher interest rates. That was an easy way to make money until central bankers in the U.S. and other countries began slashing borrowing costs as the credit crunch hit and their economies faltered. The carry trade "is a very strong and powerful movement, and it's difficult to stop it," Sasaki says. "I think that Japanese officials understand that, and that's why they haven't intervened...
...headlines in November as it emerged that he lost several hundred million euros when he got caught on the losing end of a short sale of Volkswagen shares. It is believed that he lost as much as €500 million. His trouble was made worse by the spreading financial crunch, which hit his corporate empire hard. (See pictures of the global financial crisis...
...president José Manuel Barroso credits the euro for delivering lower inflation, lower interest rates and greater price stability, and helping to create 16 million jobs. More immediately, the euro is shielding member states in this time of economic turmoil, preventing a currency crisis in addition to the credit crunch. "The euro is sheltering businesses from the exchange rate volatility, which has battered them in previous downturns," Barroso said on Monday. "To put it simply, the euro works...
Just before U.S. markets went into meltdown and venerable financial institutions teetered or collapsed, several of Iraq's 18 provinces, including Diyala in the northeast, suffered their own cash crunch, literally running out of cash. Bank notes. Bills. Some public-sector bank branches, mainly in Diyala, ran out of physical bank notes because of a combination of unforeseen demand and a lapse in importing new currency notes from printers based overseas. It is the latest inefficiency to stymie the country's long-delayed reconstruction efforts...
...crunch," as central-bank governor Sinan al-Shibibi described it, lasted for several months and was only recently rectified. "We had some temporary problems," he said, explaining that they were precipitated by the government's public-sector pay raises that took effect in July. "There should be more coordination between the central bank and the government to assess and to project for the demand for currency by the government." That is quite the understatement...