Word: euros
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...DUISENBERG, outgoing president of the European Central Bank, threatening to fine euro-zone countries that break the deficit limit
...young people wearing badges that simply say no - Lowisa Anderzon is working the phones. She is making cold calls to likely voters, trying to get Swedes to go to the polls on Sept. 14 and reject the proposal that this Scandinavian nation of 9 million people should join the euro. The yes side has mounted a slick, expensive campaign funded by big businesses that support the European common currency. But they're trailing in the polls because of people like Anderzon, a 27-year-old nursing assistant at a Stockholm hospital, who is working for free because she believes...
They started a separate, privately financed campaign organization called Sweden in Europe. The yes side refuses to provide figures about its budget, but Sören Wibe, leader of the Social Democrat faction that opposes joining the euro, estimates that it is 10 times the amount received from the government - an astounding sum to spend on an election in this country. With that bankroll, they have shouted yes slogans in every legal form. Though political TV advertising is outlawed, the country is awash in debate. On Stockholm street corners, workers dutifully dispense yes or no pins from little huts...
...Rune Andersson, chairman of the board of Electrolux, the giant producer of washing machines and dishwashers that is Sweden's fourth-largest business, says he favors keeping an independent krona and central bank for Sweden, even though the company loses out when export receipts are converted back from euros. "We now have had 11 years of a floating currency, which has been the best period in this country for the past 30 years," Andersson says. "To have an independent central bank combined with a free market setting long-term interest rates has been a kind of a watchdog against misconduct...
...total to 10.4%. "What kind of upswing is it when you have increasing unemployment?" asks Ullrich Heilemann, vice president of the Rhine-Westphalia Institute for Economic Research (RWI). "The bad days may be gone but we're not in heaven yet." How do economists explain the incipient turnaround? The euro has weakened from its recent highs against the dollar, aiding big exporters like steelmaker ThyssenKrupp and electronics giant Siemens. The U.S. economy is picking up, boosting demand for imports from Europe. Interest rates are the lowest in a half-century, helping businesses finance investment. And there's even some credit...