Word: switzerland
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Like Morocco, though, Jordan has relatively little influence in the Muslim world. "Addressing Muslims from Amman may be a bit like reaching out to Europeans from ... Switzerland," says the Arab diplomat...
...Switzerland's one step 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...
...while the krone looks attractive in comparison, it's worth remembering that "at the moment, the currency markets are an ugly contest," says Thomas. "Pretty much everywhere looks not great." Moreover, he says, while Switzerland boasts a powerful banking sector with experience of taking in floods of cash, "Norway doesn't have that financial infrastructure. And there's no bond market to speak of." That means that while "it's a nice currency to be invested in, from a practical perspective, of someone who has a huge pot of money and wants a safe haven, they just couldn...
...Those questions have taken on greater urgency, since it turns out that AIG has become the banking industry's ATM, essentially passing along $52 billion of TARP money to an array of U.S. and foreign financial institutions - from Goldman Sachs to Switzerland's UBS. Those firms were counterparties to the credit-default swaps (CDSs) that AIG FP sold at least through 2005, and the companies were collecting on the insurance-like derivatives. AIG paid out an additional $43.7 billion to many of the same banks, which were also customers of the securities-lending operation run out of AIG's insurance...
...entryway boasts this mammoth suite, home to seven seniors each year. With fantastically insulated walls and prime views of the courtyard on one side and the Charles River on the other, the suite’s long hallways host everything from dance parties to beer bottle bowling. Switzerland native Alexandre N. Maurice ’09 says that he turned the giant common room this year into a “European discotheque, equipped with an excellent sound system whose speakers have been known to blow out on occasion.”Pforzheimer: The Bell TowerRight beneath Pfoho?...