Mighty Intellect
Posts: 1,923 
Location: in town
Location: in town
May 1st, 2008, 08:40 AM
As Euro Nears 10, Cracks Emerge in Fiscal Union
FRANKFURT — The euro turns 10 next January, a milestone that will be marked with celebratory speeches, inch-thick scholarly papers and a commemorative 2-euro coin, designed by a Greek sculptor. It was chosen from five candidates in an online poll of European residents.
For Greece, winning the coin contest may be the high point of the festivities. Seven years after forsaking its drachma for the euro, the Greek economy is faltering, inflation is spiking and exports have been hobbled by the surge of the euro against the dollar.Greece, said Thomas Mayer, the chief European economist at Deutsche Bank, is an “accident waiting to happen.”
By most yardsticks, Europe’s common currency has been a success, emerging as an alternative to the fading dollar for bond dealers, central bankers, Chinese exporters, even Jay-Z, the American rapper, who put a pop-cultural imprimatur on the currency by flashing a wad of 500-euro notes in a music video.
Yet fissures are forming in the European monetary union that threaten to widen in coming months.
Greece, Portugal, Italy and Spain — the sun-drenched fraternity sometimes called Club Med — are struggling with eroding competitiveness, rising prices and bloated debts. Meanwhile, Germany, the sick man of Europe for most of the euro era, is suddenly vigorous again. Economically fit after years of reforms and fortified by brisk global demand for its machinery and other goods, it has fended off China to retain its status as the world’s export champion.
........
Europe’s monetary union may be lasting, but it is not widely loved.
Read full article here: http://www.nytimes.com/2008/05/01/wo...hp&oref=slogin
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An interesting article! Those southern countries have always been lagging. I heard they don't work as hard and vigorous as the northern countries, because of a hotter climate.Perhaps.... I don't know, if that could be the reason.
I think they did remarkably well, considering how young the Union and their new currency is.
Here is a video about a strong Euro versus a weaker Dollar. Americans have to dig deeper into their pockets when vacationing in Europe. Same goes for us Canadians!
http://www.youtube.com/watch?v=IuyQKVN3VDQ
As Euro Nears 10, Cracks Emerge in Fiscal Union
FRANKFURT — The euro turns 10 next January, a milestone that will be marked with celebratory speeches, inch-thick scholarly papers and a commemorative 2-euro coin, designed by a Greek sculptor. It was chosen from five candidates in an online poll of European residents.
For Greece, winning the coin contest may be the high point of the festivities. Seven years after forsaking its drachma for the euro, the Greek economy is faltering, inflation is spiking and exports have been hobbled by the surge of the euro against the dollar.Greece, said Thomas Mayer, the chief European economist at Deutsche Bank, is an “accident waiting to happen.”
By most yardsticks, Europe’s common currency has been a success, emerging as an alternative to the fading dollar for bond dealers, central bankers, Chinese exporters, even Jay-Z, the American rapper, who put a pop-cultural imprimatur on the currency by flashing a wad of 500-euro notes in a music video.
Yet fissures are forming in the European monetary union that threaten to widen in coming months.
Greece, Portugal, Italy and Spain — the sun-drenched fraternity sometimes called Club Med — are struggling with eroding competitiveness, rising prices and bloated debts. Meanwhile, Germany, the sick man of Europe for most of the euro era, is suddenly vigorous again. Economically fit after years of reforms and fortified by brisk global demand for its machinery and other goods, it has fended off China to retain its status as the world’s export champion.
........
Europe’s monetary union may be lasting, but it is not widely loved.
Read full article here: http://www.nytimes.com/2008/05/01/wo...hp&oref=slogin
------------------------------------------------------------
An interesting article! Those southern countries have always been lagging. I heard they don't work as hard and vigorous as the northern countries, because of a hotter climate.Perhaps.... I don't know, if that could be the reason.
I think they did remarkably well, considering how young the Union and their new currency is.
Here is a video about a strong Euro versus a weaker Dollar. Americans have to dig deeper into their pockets when vacationing in Europe. Same goes for us Canadians!
http://www.youtube.com/watch?v=IuyQKVN3VDQ
May 1st, 2008, 08:52 AM
We're giving up the idea of a trip to Europe this summer. With all the doom and gloom forecasts about food prices and gas prices making our times tough, dropping that much money to go see Europe right now is not a pleasant notion. It looks like we might be focusing on keeping our tourist dollar in Canada, head out to the coast or up into the NWT... we're not quite sure yet.
We're giving up the idea of a trip to Europe this summer. With all the doom and gloom forecasts about food prices and gas prices making our times tough, dropping that much money to go see Europe right now is not a pleasant notion. It looks like we might be focusing on keeping our tourist dollar in Canada, head out to the coast or up into the NWT... we're not quite sure yet.
Mighty Intellect
Posts: 1,923
Location: in town
Location: in town
May 1st, 2008, 09:12 AM
Hi, Karrie;
why not head to the East coast? My daughter and fam are going again camping in the Maritime provinces this summer, as they did last year! They just love it there, and so much is still to be explored.... nature is so beautiful and wonderful.
I get to see their videos!
Hi, Karrie;
why not head to the East coast? My daughter and fam are going again camping in the Maritime provinces this summer, as they did last year! They just love it there, and so much is still to be explored.... nature is so beautiful and wonderful.
I get to see their videos!
Steven Hawking's Tutor
Posts: 5,930
May 1st, 2008, 11:01 AM
I'm just glad that Britain has kept the Pound and that we are always able to control our own interest rates, etc, in our interests rather than having a bunch of foreigners in a bank in Frankfurt doing it for us, but in the interests of other countries rather than Britain, as it would sometimes have to be if Britain had the Euro.
And with all of Britain's coins changing their designs this year - the biggest change in Britain's currency since it decimalised in 1971 - it looks as though it's going to be many, many years - if at all - that Britain adopts the Euro.
I'm just glad that Britain has kept the Pound and that we are always able to control our own interest rates, etc, in our interests rather than having a bunch of foreigners in a bank in Frankfurt doing it for us, but in the interests of other countries rather than Britain, as it would sometimes have to be if Britain had the Euro.
And with all of Britain's coins changing their designs this year - the biggest change in Britain's currency since it decimalised in 1971 - it looks as though it's going to be many, many years - if at all - that Britain adopts the Euro.
Mighty Intellect
Posts: 1,923
Location: in town
Location: in town
May 4th, 2008, 04:27 PM
Quoting karrie
Just heard the latest from my daughter... they have changed their plan, are now flying to Maui, and then rent a car and go camping. Flight around $500, some camping places are free, others charge $10. They jumped on that special air fare price!! (Air Canada)
Exactly loon. We're thinking perhaps Via Rail out to the East Coast.
Mighty Intellect
Posts: 1,923
Location: in town
Location: in town
May 4th, 2008, 04:54 PM
How come this Galloway guy didn't help his best friend, Saddam, to escape? Could have given him sanctuary in some Scottish Castle.
Quoting Blackleaf
I hear the old resentment towards Germany.... still there after more than 65 years!!!
I'm just glad that Britain has kept the Pound and that we are always able to control our own interest rates, etc, in our interests rather than having a bunch of foreigners in a bank in Frankfurt doing it for us, but in the interests of other countries rather than Britain, as it would sometimes have to be if Britain had the Euro.
Quote:
Does that mean England hasn't joined the Union yet? What are they holding out for? Special status? I'm not up to speed on it.
And with all of Britain's coins changing their designs this year - the biggest change in Britain's currency since it decimalised in 1971 - it looks as though it's going to be many, many years - if at all - that Britain adopts the Euro.
Quote:
Still stuffy as always!!! How much longer do you think the British Monarchy will last? And, will Prince Charles still be King one day, or will his son William be next? The Left-wing politician George Galloway - who was once one of Saddam's best friends - vents his anger in his column in the Scottish newspaper "The Daily Record" that a minor royal has to give up his "lowly place in the order of succession" because he has married a Catholic - because Catholics are not allowed to become British Monarch.
How come this Galloway guy didn't help his best friend, Saddam, to escape? Could have given him sanctuary in some Scottish Castle.
Quote:
You mean George Bush? I guess he is more politically correct than the Queen, who is in a league of her own.... above even of the Pope. But how can the Monarch, as the head of the Church of England, be anything other than Church of England? Is George also offended that we can't have a Protestant Pope?
