Where Will Euro Go?

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September 2008
- European Banks Loosen Purse Strings
  
  New York Times | Sep 15, 08 10:02 AM CDT
  
  (Newser) - The weekend’s storm on Wall Street has prompted Europe’s central bankers to make billions of dollars available on the cheap to global money markets as a levee against a rising flood of fresh turmoil, the New York Times reports. The European Central Bank has pledged $43 billion and the Bank of England $9 billion to help stabilize markets. More »
- Pound Plunges to Record Low Against Euro
  
  Financial Times (UK) | Sep 2, 08 2:26 AM CDT
  
  (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 $1.79 against the dollar, its lowest since April 2006. More »
August 2008
- Inflation Hurts US Workers; Europeans Keep Pace
  
  Wall Street Journal | Aug 22, 08 10:20 AM CDT
  
  (Newser) - Workers in the US are falling behind inflation while their counterparts in the 15-nation Eurozone are keeping pace, in part because of more powerful unions, the Wall Street Journal reports. But rising wages may damage the European economies, as they deter companies from hiring and in turn boost inflation. When wages are indexed to prices, an inflationary spiral is particularly hard to break, the paper observes. More »
July 2008
- World Markets Tumble, Dollar Hits New Low
  
  Bloomberg | Jul 15, 08 7:32 AM CDT
  
  (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 territory, having lost 21% of its value since October. More »
June 2008
- Euro-Weary French Village Reverts to Franc
  
  New York Times | Jun 30, 08 8:32 AM CDT
  
  (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 quickly.” Villagers also blame the euro for rising prices and find the faceless pan-European currency bland. More »
- Dollar Soars to Biggest Weekly Gain in 3 Years
  
  Bloomberg | Jun 13, 08 5:21 AM CDT
  
  (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 end. European politicians are delighted with the greenback's resurgence; Christine Lagarde, France's finance minister, called it "very satisfying." More »
May 2008
- Weak Dollar Not Slowing US Vacations
  
  Los Angeles Times | May 3, 08 3:41 PM CDT
  
  (Newser) - The dollar may be weak, but Americans’ desire to travel overseas this summer is strong, the Los Angeles Times reports. While domestic travel has appeared to hit the skids, more than 25 million Americans will grab their passports and take off for adventures abroad—up 2.6% from last year, AAA says. More »
- French PM Lobbies US on Weak Economy
  
  Associated Press | May 2, 08 8:07 AM CDT
  
  (Newser) - While Nicolas Sarkozy struggles with the sputtering French economy at home, his prime minister has traveled to Washington to spur international action. François Fillon will meet with Ben Bernanke and Hank Paulson today, where he is expected to press the US on the subprime crisis, the weak dollar, and the need for an appreciation of the Chinese yuan, reports the AP. More »
- Euro About to Mark 10 Years
  
  New York Times | May 1, 08 6:02 PM CDT
  
  (Newser) - Like many 10-year-olds, the euro has had its ups and downs, but its current ascendancy is worrying, and not just to fans of the weakening dollar; some European states are chafing at the strength of their common currency, the New York Times reports. The German economic engine is causing high prices and ballooning debt in countries such as Greece, Italy, Spain, and Portugal. More »
April 2008
- As Currency, Dolphin Teeth Feel Recession's Bite
  
  Wall Street Journal | Apr 30, 08 11:50 AM CDT
  
  (Newser) - Spinner dolphins had better watch out—their pearly whites are again a fast-growing currency in the South Pacific, the Wall Street Journal reports. Economic troubles in the Solomon Islands have caused many to return to the traditional trading chip. “Dolphin teeth are like gold,” says the governor of the nation's central bank. "You keep them as a store of wealth.” More »
- Consumer Prices Rise in March; Oil Blasts Past $114
  
  Associated Press | Apr 16, 08 10:22 AM CDT
  
  (Newser) - Consumer prices rose an anticipated 0.3% in March, propelled by hikes in the costs of energy, food, and airline tickets; a commodities rush and weak dollar also pushed crude oil to a record high today. Energy costs rose 1.9% in March, the AP reports, and the past year has seen huge increases in the prices of bread (14.7%) and milk (13.3%) More »
- G-7 Ministers Talk Tough on Sliding Dollar
  
  Wall Street Journal | Apr 12, 08 7:26 AM CDT
  
  (Newser) - The Group of Seven's finance ministers are getting more aggressive about stopping the greenback's decline, the Wall Street Journal reports. In what counts as blunt words for the group, a statement yesterday expressed concern about the plummeting dollar's "possible implications for economic and financial stability." The change in tone since the group's last meeting a year ago is aimed at sending a signal to traders; the ministers stopped short of using G-7 money to buy up dollars to push the currency upward. More »
March 2008
- 25 Ways to Save in Europe
  
  MSNBC | Mar 19, 08 12:16 PM CDT
  
  (Newser) - Worried that exchanging your dollars into pounds will leave you with pennies? MSNBC outlines 25 ways to stretch your money in Europe. Find no-cost entertainment, like free days at museums or public concerts. Use a credit card or get cash from an ATM for the best exchange rates and lower fees. Haggle, especially at outdoor markets or street vendors. More »
- Dollar Nosedives, Global Markets Tumble
  
  Bloomberg | Mar 17, 08 3:55 AM CDT
  
  (Newser) - The dollar took a pummeling and equity markets in Europe and Asia slumped as worried investors reacted to the Bear Stearns fire sale and the Fed's emergency rate cut. The dollar dropped to a shocking 95 yen, hit an all-time low of $1.59 against the euro, and remained below one Swiss franc. The US currency is "facing a credibility crisis," one Asian investor told Bloomberg, while another said that "the Fed is throwing the dollar out of the window." More »
- Dollar Makes Comeback as Banks Predict Intervention
  
  Bloomberg | Mar 14, 08 8:17 AM CDT
  
  (Newser) - The dollar made a recovery today after yesterday's disastrous fall, pulling back above 100 yen and gaining against the euro and the pound. The greenback's advance comes as securities firms speculated that the Fed and other central banks will collaborate to safeguard the dollar for the first time in 13 years. "The market is certainly on intervention watch," a currency trader told Bloomberg. More »
- Dollar Hit as Emerging Economies Fight Inflation
  
  Wall Street Journal | Mar 11, 08 7:32 AM CDT
  
  (Newser) - A weak US dollar continued to fuel surging commodity prices today, keeping oil near $108 a barrel and moving a gallon of gas to $3.225, with analysts predicting near $4 prices by spring, the Wall Street Journal reports. Stress on the greenback is coming from not only major but minor currencies, as developing nations fight inflation by relaxing currency controls. More »
February 2008
- $1.50 Euro Sparks Biz Plea for Help
  
  Daily Telegraph (UK) | Feb 28, 08 4:39 AM CST
  
  (Newser) - Now that its common currency is trading above the $1.50 barrier, eurozone industry is calling for action to remain competitive in global markets. BMW, which has already laid off 5,600 employees, will have to take further action in the event of a "sustained rise" of the euro, reports the Telegraph . "We can't cope with such an exchange gap," compained the CEO of Dassault, France's top aviation company. More »

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Stories

European Banks Loosen Purse Strings

Pound Plunges to Record Low Against Euro

Inflation Hurts US Workers; Europeans Keep Pace

World Markets Tumble, Dollar Hits New Low

Euro-Weary French Village Reverts to Franc

Dollar Soars to Biggest Weekly Gain in 3 Years

Weak Dollar Not Slowing US Vacations

French PM Lobbies US on Weak Economy

Euro About to Mark 10 Years

As Currency, Dolphin Teeth Feel Recession's Bite

Consumer Prices Rise in March; Oil Blasts Past $114

G-7 Ministers Talk Tough on Sliding Dollar

25 Ways to Save in Europe

Dollar Nosedives, Global Markets Tumble

Dollar Makes Comeback as Banks Predict Intervention

Dollar Hit as Emerging Economies Fight Inflation

$1.50 Euro Sparks Biz Plea for Help