Word: euros
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Spend some time in the hotels, restaurants and even newsstands of Western Europe these days, and as an American you understand pretty quickly that you're poorer than you once were. To be precise, you're 40% poorer--to go by the dollar-euro exchange rate--than you were six years...
...near Central to get Tosca’s espresso and freshly made ice cream. They also feature brunch on Saturdays and Sundays, from 10 a.m. to 2 p.m., with offerings like warm breakfast pudding with Vermont maple syrup and soft cream. But if you want to go pure Euro-style, Clear Flour Bread in Allston can’t be beat. After a 15-minute ride on the 66, a short walk down Commonwealth Ave. and a right turn on Thorndike, one stumbles upon a bakery small enough to be a hobbit’s home. Classic breads like French...
...after Hermann declared to the trade press that she relished the "challenge" of running a wounded YSL, it remains unclear whether she and Pilati have the magic formula to modernize the fashion house and elevate it to its former glory alongside idolized French brands like Chanel, now a multibillion-euro business. The ascension to such heights is a complex mission. It takes believing that Pilati has the talent and range to give women what they need and think they want and that Hermann has the gift to translate his talent into commercial success...
...meantime, just as central banks in the U.S. and euro zone have pumped cheap cash into money markets to boost liquidity in recent weeks, the Bank of England announced plans to inject almost $30 billion into the U.K. system after the credit squeeze nudged up the rates banks were charging each other to borrow. The longer those rates remain high, the more mortgage providers will be forced to pass on the costs to homeowners, increasing the chances of a consumer spending slowdown and a weakening economy. That prospect - and the dramatic half percentage point...
...Only this year was Greece able to escape threats of sanctions by the E.U. following three and a half years of relatively austere fiscal policy that brought the country's bloated budget deficit in line with financial rules that underpin the stability of the euro. Selling off struggling state-owned companies and overhauling the country's debt-ridden pension system will figure high on government's second-term agenda. Greece's rapidly aging population and system of generous pension benefits are "the main risk factors to Greece's long-term fiscal sustainability," according to a recent report...