Word: dollarization
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...Thus, monetary and fiscal policy would be coordinated on the same scope, and Europeans would not have to worry about a single member state bringing down the entire economy, just as no one worries about California’s fiscal problems hurting the stability of the dollar. European countries, accustomed to full sovereignty, are used to full independence, and therefore an intermediate step to fiscal and political integration might be the creation of a European Monetary Fund that follows a set of fixed processes for assistance to struggling states. In the long term, however, the only feasible solution that will...
...opportunity to work on commercial film. “It’s great,” said Horowitz. “I’ve TA-ed here, and on Fridays I’ll PA [work as a Production Assistant] on a hundred-million-dollar movie...
...lucky enough to join that club. By the skin of its teeth, it met the criteria for admission to Europe's new currency union. First, the drachma's value was fixed to that of hard-money countries such as Germany and the Netherlands, and its long decline against the dollar slowed. Then in 2002, the drachma exited the currency stage, giving way to the euro...
...Even when Haiti and international donors reach the point of working together on longer-term recovery projects, there remains a great fear that much of the billions of dollars involved will fall prey to Haiti's notorious official and business corruption. To assuage that concern, Bellerive says that what matters most to his government is that "Haitians will be at the leadership of the vision, the action plan and the implementation. That doesn't mean we have to receive the money. In fact, if that's the best way to prove we're being totally transparent, it would be best...
...worried should we be? Perhaps very, according to a chart from a recent report by Amherst Securities. The chart shows the dollar value of loans that will undergo a 10% or more jump in monthly payments, an amount that plenty of families would find unaffordable considering nearly 1 in 10 workers is out of a job. The chart has two big peaks - the first is the rush of subprime resets that peaked in late 2007 and early 2008; the second is the upcoming wave of option ARMs, which don't hit their full reset stride until 2011. By the middle...