Word: euros
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...then, did I find myself at 5 p.m. on January 22 (11 p.m.: time to break out the euro-and-66-cent bottle of wine or get some late-night gelato) feeling almost nostalgic about clearing my leftovers out of the office fridge and packing up my personal belongings (i.e., my favorite...
...Perhaps the worst part, however, is that deficits have risen the fastest in the euro-zone group, which requires members to limit their budget shortfalls to 3% of GDP. Many of these countries began exceeding that threshold before the financial crisis began and then went well above it after the crash. E.U. countries collectively spent $1.5 billion to save their vulnerable banking sectors and a further $200 billion in stimulus funding to revive their economies. Although the latter helped the 16-nation euro zone exit the recession in the middle of 2009, it also lifted already lofty deficit levels even...
...lucky few diners, one should say. Eight thousand people get reservations at elBulli each year, a mere fraction of the million who request them. (The restaurant is open only about half the year.) Indeed, despite its 230-euro price tag, dinner at every table for the six months that the restaurant is open is assigned in a single day. And now that it's clear that this year's reservations lottery may well be elBulli's penultimate, the number of gourmands clamoring to get in will surely grow. (Is elBulli's creation food...
...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...