In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘euro’

Iceland’s Hardardottir Committed to Euro

Posted by seumasach on January 5, 2012

Bloomberg

5th January, 2012

Iceland’s Finance Minister Oddny G. Hardardottir said she’s committed to the island nation adopting the euro as the bloc will emerge stronger from its debt crisis amid tightening fiscal ties and discipline.

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GEAB report-Spring 2010-A new tipping point of the global systemic crisis

Posted by seumasach on December 25, 2009

Leap/E2020 obviously believe, as we do, that rumours of the death of the Euro are greatly exagerated. This is a welcome counterblast to the catastrophist perspectives for Europe of the Ambrose Evans-Pritchard and others. As it happens their doomsday scenario does apply precisely to the anglosphere where we can boast a unique cocktail of bankrupt banks, endless “defence”, i.e. war, expenditure, depleted productive base, trade deficts, government debt, personal debt, company debt, skilled labour shortages, poor public health and low educational achievement allied to a complete inability of anyone at all to confront this appaling reality.

GEAB N°40 is available! Spring 2010 – A new tipping point of the global systemic crisis: When the slip knot around public deficits is going to strangle Western states and their social security systems
16th December, 2009
LEAP/E2020 believes that the global systemic crisis will experience a new tipping point from Spring 2010. Indeed, at that time, the public finances of the major Western countries are going to become unmanageable, as it will simultaneously become clear that new support measures for the economy are needed because of the failure of the various stimuli in 2009 (1), and that the size of budget deficits preclude any significant new expenditures.

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Sarkozy says the world can’t rely on just the Dollar

Posted by smeddum on August 28, 2009

08/27/2009 –

Forexhound

from Finotec

Sarkozy says the world can’t rely on just the Dollar and currencies
The political and economic reality of a multi-polar world will eventually have to be transmitted on the monetary level

French President Nicolas Sarkozy said currencies should be re-aligned to reflect changes in the world, suggesting that the dollar alone cannot remain dominant. “The political and economic reality of a multi-polar world will eventually have to be transmitted on the monetary level,” Sarkozy said today in a speech in Paris. “A multi-polar world can’t count on only one currency.” Though he did not mention the currency by name, Sarkozy’s remarks are among the first by a major Western leader to cast doubt on the role of the dollar. The world must change to limit “excessive and profoundly destabilizing exchange rate fluctuations,” Sarkozy said in a speech today in Paris. “France won’t accept that the euro alone takes the weight of the adjustment, as it has in the past.” The EUR/USD is currently trading at $1.4240 as of 9:00am, London Time. Read the rest of this entry »

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Mandelson Praises Euro

Posted by seumasach on June 12, 2009

As we predicted at the time, the return of Mandelson has reopened the question of joining the Euro. Recent events tend to confirm that Mandelson has influential backing within the British elite: his coming out on the euro seems to indicate, therefore, a deep division within them. We could posit that Mandelson represents a “realist” element, who recognise the game is up for the pound. It will be interesting to look for the reaction to this statement.

Daily Mail

12th June, 2009

Lord Mandelson has reopened the divisive issue of joining the single currency.

The Business Secretary described it as an “important objective” for Britain during a trip to Berlin, hailing the euro as “a great success”.

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ECB deems Britain unworthy of euro

Posted by seumasach on January 8, 2009

 

 

 

“Great Britain does not meet the entry criteria for the euro,” said Lorenzo Bini Smaghi, the ECB’s board member in charge of international affairs.

“The public deficit will rise to around 6pc (of GDP) in 2009 and even higher in 2010. Sterling’s exchange rate is not yet sufficiently stable,” he told Italy’s La Repubblica newspaper.

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Danes Warm to Euro amid Financial Crisis

Posted by seumasach on November 3, 2008

Businees Week

3rd November, 2008

The financial crisis “makes it evident” that Denmark needs to join the euro, Danish Prime Minister Anders Fogh Rasmussen said on Thursday (30 October), while recent polls show that 50 percent of Danes are now in favour of scrapping the krone.

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Iceland may reconsider EU membership

Posted by seumasach on October 29, 2008

Winninpeg Free Press

27th October, 2008

HELSINKI, Finland – Iceland’s business affairs minister says his country should reconsider applying for membership in the European Union and joining the common EU currency to help in future financial crises.

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Is Reyjavik Steering Towards EU?

Posted by seumasach on October 21, 2008

Spiegel

21st October, 2008

Iceland, the country hit worst by the global credit crunch, is about to get a €6 billion international rescue package. Meanwhile, the EU has said negotiations would be quick if Reykjavik wants to become a member state.

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Get Mandelson! move backfires

Posted by seumasach on October 21, 2008

MOSCOW, October 21 (RIA Novosti) – Senior members of Britain’s opposition Conservative Party solicited Russia’s richest man Oleg Deripaska this summer for a donation, a mutual acquaintance told The Times newspaper in a letter.

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Norwegian Krone Plummets To Near 10-year Low Against Euro

Posted by seumasach on October 16, 2008

 

nasdaq.com

RTTNews) – In early trading on Thursday, the Norwegian krone slumped to its lowest level since January 1999 against the European currency as the Norwegian central bank lowered its key interest rate by 0.5% to 5.25% yesterday to avert an economic slowdown caused by the global credit crisis. The krone also plummeted to a 2-year low against the dollar.

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Iceland crown falls vs euro after PM fails to reassure

Posted by seumasach on October 8, 2008

Reporting by Carolyn Cohn and Natsuko Waki

Forbes

LONDON, Oct 7 (Reuters) – The Icelandic crown fell against the euro on Tuesday after comments from Icelandic Prime Minister Geir Haarde failed to reassure investors.

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