Word: euros
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...TIME? 23. Key at the upper-left corner 24. __ Hamoukar, site of a recently discovered 6,000-year-old city in Syria 27. Like the Sabin vaccine 29. One of L.B.J.'s beagles 32. Inflation-fighting agcy. of the '40s 33. Word on a striker's placard, perhaps 34. Euro forerunner 35. Money obtained as political patronage 36. Holder of Nixon's "smoking gun" 37. AC rating units 38. Org. in the movie Michael Collins 40. Site of controversial May 28 presidential runoff 42. Specter may seek a sanction against him over the fund-raising scandal 44. Neighbors of radii...
...fact, there was rejoicing all across the world. First the Asian markets, then the European bourses surged -- along with the yen and the euro -- on the prospect of the Big Bad American Economy being brought just a little bit low. See, the dollar, bolstered by investors and buttressed by rising interest rates, has been beating up the other currencies in the playground all spring. To keep their own currency up, the Europeans especially have felt pressure to hike their own rates along with Greenspan, thus endangering the nice little expansion they've got going over in euroland. Now everybody from...
...there is no such thing as a sure thing. How we feel about what we carry in our pockets says an awful lot about what we carry in our hearts and our minds. Last year a coalition of 11 European countries rolled out a brand-new currency called the euro. And though euro coins won't be available until January 2002, the currency has proved a loser on foreign-exchange markets, where it is traded electronically. Continental bankers hoped the euro would compete with the dollar as an international currency of choice. Instead, the euro has fallen more than...
...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...
...those non-banker Continentals whose reputations do not rest on the international credibility of their currency, the euro's steady fall is not bringing the sky with it. The sagging euro has Continental goods selling briskly 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...