Word: euros
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Similarly, Greece and Spain are pushing back against speculators who want to short the euro or use it in carry trades, further depressing the already soft currency. Just this week Spain's Finance Minister, Elena Salgado, flew to London to assure bondholders that her country remains solvent and unveil a proposal to cut Spain's budget deficit...
...euro and yen are this year's dollar, what's on the flip side of the smart carry trade for 2010? Last year the Brazilian real was a currency on fire, appreciating 35% on interest rates that started 2009 at an unsustainable 13.75%. It was a situation that threatened to suffocate the economy, forcing the government to intervene in currency markets, cut interest rates nearly 40% and impose new taxes on foreign investment. (See pictures of the global financial crisis...
...euro and yen top the list of must-watch "funding" currencies for 2010, but that prognosis might change as the year unfolds. Like Greece, both Britain and the U.S. have dangerously high levels of outstanding debt, largely due to stimulus spending and bailouts intended to get their respective economies back on their feet. While this might spell trouble for the dollar and British pound, it's a looming opportunity for those who ply the carry trade...
Lerner is the first Harvard faculty member to be awarded this prize. He will receive a 100,000-euro ($137,400) prize, along with a replica of “The Hand of God,” a sculpture created by Swedish artist Carl Milles. Lerner will also be honored at an award ceremony in Sweden...
...Albert Einstein, Marie Curie, Max Planck and other dazzling minds of the era gathered at the Solvay Library in Brussels for a major physics conference. Meeting in the same neo-classical library on Thursday to find an urgent solution to Greece's debt crisis and save the imperiled euro, European Union leaders would probably have relished the chance to connect with those bygone eggheads for inspiration. But no matter - their decision, as it turns out, was a no-brainer. In an emphatic message to the speculators around the world who are betting billions on the euro's downfall...