Word: euros
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...That's quite some claim. Currently at its strongest against the dollar and euro since last fall, the krone is set for a "sustained appreciation" over the next year and a half, according to HSBC. The main reason: Norway's budget and current-account surpluses are the biggest among nations with the 10 most traded currencies. Factor in the country's $350 billion sovereign wealth fund pumped full of the country's oil revenues, and the cost of insuring against government default in Norway - a key measure of a currency's safety - is the lowest of those countries. With Norway...
...further along. In an effort to fend off the threat of deflation, the Swiss National Bank announced March 12 it would dump francs in the first such move by a major central bank for years. The move was enough to cut 3% off the currency's value against the euro; since then, the franc's fallen further still. Even the greenback, which rallied in recent months, stands at its lowest level against the euro since early January following the Fed's announcement last week that it would spend some $1.2 trillion on government and mortgage bonds, flooding the markets with...
Keeping the Americans in is still the most potent glue. Old NATO hands (like this author) can no longer count all those Euro-American crises and collisions that threatened to demolish the coalition about twice a year. The almost-breaking point came in 2002-03, when Paris, Berlin and Moscow joined hands against President George W. Bush and his war in Iraq. And yet the Alliance held...
...Hollywood Golden Age couture. From 1964, when he captured Jacqueline Kennedy's attention and began clothing her in a monarch widow's blacks and whites, the little man with the slim, feline smile has outfitted a host of high-end one-name celebrities - Liz, Diana, Julia - and the Euro-royalty whose tastes influenced the decisions of retail buyers, country club wives and the more ambitious shopgirls...
...total GDP (2.0% for 2009) - while the supposedly interventionist E.U. has struggled to scratch together programs worth 0.9% of its total GDP. The E.U.'s reticence is partly due to fears that piling up debts and deficits to fight the collapse in output and jobs could destabilize the euro zone. It also reflects Europe's confidence that its economies are more resilient to the banking and housing collapses that have hit the U.S., while its stronger social safety net can soften the political impact of rising unemployment...