So we’ve been harping on the rising concerns in Europe and what they may ultimately mean for the euro. But it’s clear that the worries are not confined to the EMU. Yesterday traders put a hurting on the Hungarian forint, the Polish zloty and the Czech koruna.
In one of several brilliant campaign moves, Barack Obama enlisted the service of several big names to lead his economic decision-making. Why? Well, probably because he realized that he had no relevant experience of his own from which to lead. It reassured many voters that he was willing to dole out responsibilities to the pros, to surround him with competent people.
Today’s US price data a bit hotter than expected this morning. China boom numbers out last night. And guess what, the dollar likes what it sees. Is a growth surprise in the air? It would change the dynamics for the dollar and is a key part of any story that suggests the dollar has bottomed. Did I say bottomed? Well, yes I did, thanks for asking….
In The Wall Street Journal yesterday, Mr. Brown and Mr. Sarkozy, of Britain and France respectively, penned a piece for WSJ readers. Let’s start with this ...
Europe led the way last year in facing down the global financial crisis, restructuring our banking system and strengthening the global financial system. The European Union was also at the forefront in calling for a new forum for economic cooperation of G-20 leaders. And from the outset of the crisis, it was Europe that promoted the fiscal stimulus—and sought to coordinate it globally— that has been a major factor in preventing recession becoming a world-wide depression.
ECB fiddles while Athens riots. It just doesn’t work as well as “…Rome burns.” But I think you get the picture:
“Greece's case could present the European Central Bank and the European Union with a dilemma: whether to bail out the country or possibly see a euro-zone member face a debt crisis. The first course could reduce the pressure for fiscal discipline, while the second could damage the credibility of Europe's great single-currency experiment,” according to a story today from The Wall Street Journal.
