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NEWS ABOUT: euro

Best New Travel Websites

Get advice from locals, exchange currency, and more

(Newser) - The summer is winding down, but there’s still time for a last-minute vacation. The Times of London lists 10 new websites to check out:
  • Tripbod: Answer questions about your interests and hobbies, and a local expert will plan an itinerary for you.
  • Vimeo: The travel group on this video
... More »

Dollar Headed for Biggest Gains Since '81: Bankers

Greenback set for 17.1% gain against euro

(Newser) - The dollar is poised for its biggest advances in 28 years, according to Deutsche Bank, which predicts a 17.1% gain against the euro by the end of the year. Other banks polled by Bloomberg are similarly bullish about the greenback, which has just endured its worst quarter since 2002.... More »

Dollar Hits 2009 Low

Credit rating fears send greenback falling against pound, euro

(Newser) - The dollar fell to its lowest level of the year today as investors grew nervous that the US could lose its triple-A credit rating, Reuters reports. The greenback declined to $1.39 against the euro and $1.58 against the pound, echoing similar drops across the world. Yesterday, Moody's said... More »

German Economy Dives 3.8%

Quarterly fall in GDP is worst in over 40 years

(Newser) - The German economy has suffered its worst decline in more than 40 years, with GDP shrinking by 3.8% in the first quarter of 2009. The fall is the most severe on record and worse than economists had predicted, reports the Guardian. News of the contraction in Europe's largest nation... More »

GDP Nosedives Across Atlantic

4th-quarter GDP drop signals worsening recession

(Newser) - We're not alone: The euro zone’s recession worsened in the fourth quarter of last year as its GDP saw its biggest decline since records began in 1995, the Wall Street Journal reports. The GDP contracted 1.5% quarter-to-quarter and 1.2% since the year before, EU figures showed. Germany,... More »

Iceland Up for Emergency EU Membership

Brussels says it will fast-track process for crisis-stricken nation

(Newser) - Iceland will be fast-tracked into the European Union to rescue the tiny Nordic state from financial disaster, senior officials in Brussels tell the Guardian. Depending on the result of the Icelandic election, the country could apply for membership as soon as May. While accession to the EU normally takes years,... More »

4 Financial Doomsday Scenarios

(Newser) - James Rickards is far more pessimistic about the economic crisis and its global implications than most of his analyst colleagues, Politico reports. But he’s also well respected by US intelligence and defense services. Here are four of his nightmare scenarios.
  • Terrorism: Al-Qaeda has long sought to disrupt the US 
... More »

Dollar's Long Rally Likely to Stall in 2009

Recession, low interest rates will catch up with buoyant greenback

(Newser) - The once moribund dollar has soared 20% against foreign currencies since July, one of the few bright spots in a grim financial landscape. The dollar traded against the euro at $1.28 this morning, down from a high of over $1.60 this summer. But the dollar's rally is expected... More »

Crisis Makes Former Skeptics Rethink Euro

From Poland to Iceland, once-resistant nations want to join up

(Newser) - When the euro was first proposed, skeptics cautioned of the dangers of an integrated system during a time of crisis. Now that the crisis is here, the euro has performed relatively well while smaller currencies have plunged in an investor "flight to quality." As the New York ... More »

Germany, Europe's Largest Economy, in Recession

Europe's largest economy posts worse-than-expected declines

(Newser) - New figures today confirmed that Germany, Europe's largest economy and the world's top exporter, is in recession. The nation's GDP contracted 0.5% in the third quarter, far worse than predicted and the biggest decline in growth in 12 years. The magnitude of the German contraction pushed the euro down... More »

Global Stocks Pounded, Dollar Hits Record Highs

Greenback soars to 5-year high against the pound

(Newser) - Stocks in Asia and Europe dove once again today, with banks leading losses as the continuing economic downturn hit corporate profits. The Nikkei in Tokyo closed down 6.8%, and London's FTSE opened down 2.3% after the Bank of England said that the country is in a recession. Meanwhile... More »

Euro Leaders Hope to Emerge With Crisis Action Plan Today

Europe scrambles to shore up banks

(Newser) - European leaders hoped to emerge today from a meeting in Paris with a detailed unified action plan to address the continuing worldwide economic crisis, Reuters reports. Banks continued to hold emergency talks today with officials in the British government, which is about to purchase major equity stakes in the nation's... More »

$1T US Bailout May Crush Dollar's Rally

Plan's huge pricetag undermines confidence in the buck

(Newser) - The US plan to spend up to $700 billion on suspect mortgage-related instruments and a possible additional $400 billion to insure money market mutual funds may stabilize financial markets—but it’s just as likely to send the dollar into a dive, eroding its 3-month rally, reports Bloomberg. “The... More »

Dollar Soars to 1-Year High

Greenback climbs higher still after Fannie-Freddie bailout

(Newser) - The dollar rallied to a 1-year high against the world's currencies today, following Treasury's decision to seize control of Fannie Mae and Freddie Mac. After an early hiccup, the greenback advanced to $1.41 against the euro while also climbing against the yen, the pound, and the Swiss franc. While... More »

Pound Plunges to Record Low Against Euro

Gloomy economic outlook sends British currency tumbling

(Newser) - The British pound has sunk to its lowest level ever against the euro since the European currency was introduced in 1999, the Financial Times reports. The fall follows Chancellor Alistair Darling's dire warning that the outlook for the British economy is the worst in 60 years. The pound dropped to... More »

World Markets Tumble, Dollar Hits New Low

Euro hits $1.60 as banks lead declines

(Newser) - World stocks hit their lowest level since 2006 today as credit-market losses and weakening consumer confidence sent shares falling, reports Bloomberg. The big banks, from UBS in Europe to Cathay in Asia, led declines. The MSCI World Index, Morgan Stanley's indicator of global finance, has now slid into bear market... More »

Weak Dollar Sends Vatican to $14.5M Loss

Catholic church blames declining greenback as it goes into the red

(Newser) - The weak dollar has wreaked havoc on business across Europe, but one organization has posted a surprising loss: the Vatican. The Catholic Church blamed the declining greenback for its first loss in 4 years as it ended the year $14.5 million in the red. The Guardian reports on how... More »

Europe Hikes Interest Rates to Curb Inflation

Central bank's quarter- point increase to 4.25% is first move in a year

(Newser) - The European Central Bank today adjusted interest rates for the first time in more than a year, reports MarketWatch, raising the main rate by a quarter-point to 4.25%. The increase comes just after a report that inflation in the eurozone has reached 4%, the highest rate since the introduction... More »

Euro-Weary French Village Reverts to Franc

Town revives old currency to spur business

(Newser) - Six years after scrapping the franc for the euro, one sleepy town in southern France has reverted, the New York Times reports. Says the mayor of Collobrières, population 1,600, “We lost something with the franc. We lost an identity. We moved very quickly into Europe, maybe too... More »

Dollar Soars to Biggest Weekly Gain in 3 Years

Greenback posts record advances ahead of G8 meeting

(Newser) - The dollar posted its biggest gain in almost 3 years this week, soaring 2.5% against the euro and 2.8% against the yen. This morning in London the dollar was trading at $1.54 against the euro, with analysts predicting a rise as high as $1.45 by year's... More »

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