Word: duisenberg
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Dates: during 2000-2000
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...DUISENBERG E.U. bank big sees his euro slide as Danes reject it. Hey, cheap Brie for the rest...
...Duisenberg, head of the European Central Bank and monetary lord of the Continent, is not a happy man. The euro, the newfangled currency he has been charged with shepherding since its New Year 1999 debut, is down 23 percent, and on Monday finance ministers from the 11 euro-zone nations arrived for their monthly meeting in a deepening panic. "It is quite evident that we have to address the euro situation," said Luxembourg's Jean-Claude Juncker. "We have to be more creative." But the finance ministers have already signed away all their powers to the ECB. And though speculators...
...overseas and its economy humming (3.4 percent is gangbusters compared to a year ago). And the very fact of the euro makes currency fluctuations largely irrelevant to the German in France or Italian man in the street, as long as they're buying their goods from each other. But Duisenberg's in charge not only of Europe's economy but also of that fragile European pride, and he's biting his nails at the suggestion that in the monetary equivalent of Airbus vs. Boeing, the euro can't seem to stay aloft. Perhaps it's some comfort to know that...