Word: kiel
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...Staff writer Lauren D. Kiel can be reached at lkiel@fas.harvard.edu
...have to go back to the drawing board to figure out a more effective system of financial-crisis management. "Governments are making the same mistake over and over again. They're trying to deal with the crisis on a piecemeal basis," says Dennis J. Snower, president of Germany's Kiel Institute for the World Economy. He advocates a far more ambitious solution, including the creation of a new international agency that can act as a lender of last resort to stricken banks. In Washington, Robert B. Zoellick, president of the World Bank, concurs that only a multinational solution can really...
...economy, accounting for a massive 15% of New York's alone, any diminishing of its status as a financial center will have big repercussions on jobs. The dollar too may lose its long-held status as the currency of choice for central bankers everywhere. Snower of the Kiel Institute believes that in the future, "this will be seen as a historic period in which the U.S. will give up some of its reserve-currency role." Asian and Middle Eastern nations that currently hold on to dollars will want to diversify into other currencies, including euros...
...Staff writer Lauren D. Kiel can be reached at lkiel@fas.harvard.edu...
...state, we can make a difference,” she said. “Yes we can. I don’t want anyone to think this is a reference to a specific person. Remember, I also wear lipstick.” —Staff writer Lauren D. Kiel can be reached at lkiel@fas.harvard.edu...