Word: euros
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Dates: during 2000-2009
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...costs. As a fundamentally American sport, born in Springfield, Mass. in 1891, moving players from their fan base would destroy the game at its popular epicenter Also, the move indicates the state of today’s economy. With an exchange rate that has fluctuated around $1.50 for every Euro, these foreign organizations have the purchasing power to offer American players attractive salaries...
...Gordon Brown of Britain and Silvio Berlusconi of Italy, couldn't agree on substantial international measures to shore up Europe's beleaguered financial markets; they in fact had little standing to do so. By Sunday, the national governments in the 27-member E.U., including the 15 that use the euro currency, all seemed concerned first and foremost with the conditions of their own imperiled banks. Nowhere more than in Germany, where the Finance Ministry enjoined German banks to double their commitments to bail out troubled mortgage giant Hypo Real Estate AG. A rescue deal that was hailed last week...
...However, bearish traders should consider the alternatives. Despite budget-deficit restrictions and other rules applied to government members of the euro zone - and their often petulant submission to the European Central Bank 's currency and monetary policies - there is precious little to build on toward a harmonization of the E.U.'s finance sector. Regulation of banks and credit groups is still handled on the national level, and even national banks of euro-zone countries still have some decision-making power. Given that disunity, governments have little option beyond national action to stave off company meltdowns and any broader temptation...
...What's more, this is no longer an exclusively American crisis. European banks are going under as well. Growth rates in the euro zone and Japan have fallen further than in the U.S. Emerging markets too are suffering. With the exception of Brazil, stock markets in the BRIC economies (Brazil, Russia, India and China) are now down about 40% or more on the year...
During the lecture, entitled “Bulgaria as a Stabilizing Factor in Southeast Europe and the Black Sea Region,” Stanishev called for regional cooperation and further Euro-Atlantic integration in ensuring the stability of the two regions...