Word: dollarization
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Dates: during 2000-2009
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...taking wild deer and selling them to deer breeders - game wardens arrested six Texas men on that charge in December. But bans against the sale of white-tail venison and the capture of wild deer have not deterred smugglers and rustlers eager to grab a piece of the high-dollar industry, echoing a time in the West when a man's wealth was measured in cattle...
...year high against the U.S. dollar last month. While the Japanese currency has weakened somewhat recently, Bank of Japan governor Masaaki Shirakawa said Sunday that currency-market intervention was possible if the yen's rise resumes. "The strong yen at a time of rapid decline in the global economy has a big negative impact on our economy in the short term," Shirakawa said. (See pictures of Japan and the world...
Anticipating this problem, Vice President-elect Joe Biden announced last month that he will avoid the worst abuses of the political earmarking system. "Every dollar will be closely watched to make sure it's being used in an effective manner," Biden said. "I know it's the Christmas season, but President-elect Obama and I are absolutely, absolutely determined that this economic-recovery package will not become a Christmas tree...
...remarkable achievement for a currency whose only global rival is the U.S. dollar. The greenback has more than two centuries of history behind it. But it wasn't until Jan. 1, 1999 that 11 E.U. countries locked their national currencies together into a fixed exchange rate. Three years later, physical coins and notes became available, replacing national cash in a massive changeover operation. (See the top 10 business deals...
...Pisani-Ferry says the financial crisis has been a defining moment for the euro, but he cautions against too much praise. The euro is still some way from dethroning the dollar as a global currency; just 27% of global foreign exchange reserves are held in euros compared with 62% in dollars...