Word: euros
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Dates: during 2000-2009
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...session of our institution for even a second," said Joseph Daul, the French leader of the Christian Democrats in the parliament. "In this symbol of the reconciliation of European people, it would be an extremely bad signal for our citizens and the world," agreed Martin Schultz, leader of Socialist Euro MPs. "As a German, I have a duty to fight this...
...progressively worse. Not only has Hungary needed the life support of a US $25.1 billion credit line from the International Monetary Fund, its currency has been in free fall. Since the beginning of this year, the Hungarian Forint has slid 19% against the U.S. dollar, and 13% against the Euro. The government now predicts the economy could shrink by 3% this year, a modest estimate compared to the 7.5% drop predicted by some analysts. (See pictures of the global financial crisis...
...That's quite some claim. Currently at its strongest against the dollar and euro since last fall, the krone is set for a "sustained appreciation" over the next year and a half, according to HSBC. The main reason: Norway's budget and current-account surpluses are the biggest among nations with the 10 most traded currencies. Factor in the country's $350 billion sovereign wealth fund pumped full of the country's oil revenues, and the cost of insuring against government default in Norway - a key measure of a currency's safety - is the lowest of those countries. With Norway...
...further along. In an effort to fend off the threat of deflation, the Swiss National Bank announced March 12 it would dump francs in the first such move by a major central bank for years. The move was enough to cut 3% off the currency's value against the euro; since then, the franc's fallen further still. Even the greenback, which rallied in recent months, stands at its lowest level against the euro since early January following the Fed's announcement last week that it would spend some $1.2 trillion on government and mortgage bonds, flooding the markets with...
Keeping the Americans in is still the most potent glue. Old NATO hands (like this author) can no longer count all those Euro-American crises and collisions that threatened to demolish the coalition about twice a year. The almost-breaking point came in 2002-03, when Paris, Berlin and Moscow joined hands against President George W. Bush and his war in Iraq. And yet the Alliance held...