American Secretary of State Hillary Clinton was reported to have remarked that it was difficult to negotiate with one’s banker in reference to America’s relationship with China. A large chunk of China’s $3,000,000,000,000 of reserves is in dollars. America’s huge indebtedness provides China with an advantage in negotiations with the United States. Of course, the […]
The euro is facing an unprecedented crisis after another country indicated on Monday night that it was at a “high risk” of requiring an international bail-out. Portugal became the latest European nation to admit it was on the brink of seeking help from Brussels after Ireland confirmed it had begun preliminary talks over its debt […]
by Daniel Pipes May 24, 2010 updated May 29, 2010 European Union diplomats are warning that unless a breakthrough toward a Palestinian state emerges sometime soon, its roughly €300 million a year in aid could cease, Reuters reports. The aid is supposed to prepare the Palestinians for a peace treaty with Israel that will give […]
By: Dan Weil– The carnage isn’t over for the euro, which has dropped to a four-year low against the dollar, says investment guru Dennis Gartman. Europe’s financial crisis will continue to drive the common European currency down — below $1.20, says the publisher of The Gartman Letter. The euro recently traded at $1.2240. “It’s having […]
New York University economist Nouriel Roubini says the euro zone’s days may be numbered, and he’s not talking about some day far off in the future. “In a few days, there might not be a euro zone for us to discuss,” he said at a Los Angeles conference sponsored by the Milken Institute, Reuters reports. […]
By: Dan Weil The €uro, which has tumbled to an eight-month low against the dollar, may drop even more, says Claudio Piron, head of Asia currency research for JPMorgan Chase. European ministers at the recent Group of Seven (G7) nations meeting said they will make sure Greece acts to cut its huge budget deficit. The […]
The dollar is on its way out, and the euro is on its way in as the world’s main reserve currency, says David Roche, global strategist at Independent Strategy. The euro will take over because Europe has a more solid fiscal policy than the U.S., he says. “We’ll actually produce a much stronger fiscal balance, […]
In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations […]
