Word: euros
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Dates: during 2000-2009
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...works: every car owner will be required to purchase a GPS machine that is able to send data tracking the distances of trips to a billing agency. Any motorist caught without the device will be fined. People driving a standard family sedan will be charged 3 euro cents per kilometer in 2012, with the tax going up every year until 2018, when it is expected to top out at an average of 6.7 cents per kilometer. So, for instance, a trip from Amsterdam to Eindhoven and back - a distance of about 250 kilometers - will cost the driver of a standard...
...what are the sages saying now that 2010 is just around the corner? Plenty. Next year we'll see oil hit $90 a barrel (per Goldman Sachs), unemployment peak at 10.5% (Fitch Ratings), the value of the dollar with respect to the euro and yen hit bottom (Deutsche Bank), 10-year Treasuries yield more than 4% (Bank of America Merrill Lynch) and small-cap value stocks outperform all other categories (Richard Bernstein Capital Management). As for the stock market more broadly? Strategists at UBS expect gains well into the double-digits. The CEO of PIMCO sees a 10% drop...
...Heuer The Swiss watchmaker, a unit of Euro luxury conglomerate LVMH Moët Hennessy Louis Vuitton, has said that "in light of recent news, including that Tiger Woods has decided to take an indefinite leave from golf, over the coming weeks we will assess our options with Tiger Woods ... regarding our long-term relationship." Translation: We're waiting to see if this gets worse. Tag removed Tiger placards from stores across Australia (a big golf market), although the company insists that move was unrelated to the scandal. Tag headlines a group of companies whose association with the legend...
...Contrast that with Ireland. Since losing its edge in Europe - rising labor costs helped the country's share of euro-zone exports fall one-fifth between 2001 and 2008 - the Irish haven't shied from cutting their cloth in recent months. In his budget announced Dec. 9, for instance, Lenihan unleashed deeply unpopular cuts in public-sector pay that look set to trigger strike action. But when it comes to a spending squeeze of their own, says Tilford, "the Greeks are a long way from recognizing that they really have no choice." (Read "Ireland's Economy: Celtic Crunch Time...
...That surely irks the E.U., which is limited in the amount of help - or punishment - it can impose on Greece. Allowing the country to default, or to approach to the International Monetary Fund for emergency funds, would deal a huge blow to the credibility of the 11-year-old euro zone. Whatever financial concessions it can offer, therefore, will almost certainly come with stiff conditions. Greece may have little option but to accept...