On Tuesday, the Federal Reserve cut interest rates by 0.5%. Wall Street aggressively demanded the cut to stop the sub-prime mortgage contagion from triggering a credit crisis among large US and foreign investment banks and the collapse of their over-leveraged hedge funds, which ultimately threatened to drag the US economy into recession. The market rallied this week in response to the Fed's move. But there is no free lunch. [more inside]
posted by Pastabagel on Sep 20, 2007 - 99 comments

Euro's rise raises 'catastrophic' fears The euro rose on Thursday, topping $1.35 for the first time ever, amid speculation that the United States would not act to counter the dollar's decline. . "If we remain in a situation without any coordination, we can imagine a catastrophic situation" for the global economy, Finance Minister Hérve Gaymard of France told manufacturers during a factory visit Thursday in Strasbourg
posted by Postroad on Dec 24, 2004 - 60 comments

What if oil was traded in euros? "Even more alarming, and completely unreported in the U.S. media, are significant monetary shifts in the reserve funds of foreign governments away from the dollar with movements towards the euro. It appears that the world community ... seems poised to respond with economic retribution if the U.S. government is regarded as an uncontrollable and dangerous superpower." An analysis of the previous link. Apologies to those I
posted by Birichini on Apr 23, 2003 - 25 comments

Have the anti-Euro lobby shot themselves in the foot? A video promoting opposition to the UK joing the Euro has been critisized for including a spoof of Hitler praising the currency. It's attracted publicity for the campaign, all right, but has it unmasked the "No" campaign as anti-Europe "little Englanders"? (Guardian link)
posted by salmacis on Jul 3, 2002 - 23 comments

George F. Will complains about the Euro. Interesting, many of the arguments Will uses against the adoption of common European currency (loss of sovereignty, loss of cultural coherence) are the same ones used by critics against the WTO and corporate globalization.
posted by Ty Webb on Jan 2, 2002 - 31 comments