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Euro Tumbles on Concern Over Exposure to Eastern Europe
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There will be continued pressure on the euro which is trading at $1.26 against the dollar. There is renewed pressure from Western European bank's involvement in the economies of Eastern European countries. Austria is most affected with about 50% exposure to Eastern European countries, Italy has about 27% of total bank claims with focus on Poland and Croatia, and the Scandinavian banks are heavily involved in the Baltic countries. The Hungarian forint, the Czech koruna and the Polish zloty are all currencis in steep decline. The IMF has rescue packages for Ukraine and Hungary.
Euro-Dollar and Yuan -Dollar Exchange Rates and Economic growth worldwide- 2009-2013
12/06/2006
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Wall Street Journal 11/04/2008
Geithner Hints at Harder Line on China Trade
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China Rejects Currency Manipulation Charge
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Shifting sentiment for Stimulus in France and Germany as job losses mount.
01/04/2008
German GDP contraction according to Commerzbank estimates in late March show 6-7% GDP contraction in 2009. France with a smaller capital goods industy, is projected to drop 4%. Sentiment in both countries is shifting to larger Stimulus.
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Wall Street Journal 05/29/2013
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Germany Posts Month 21 of Declining Jobless Rate
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Europe’s Central Banker Engineers His Economics
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Unions Wage New Strikes in Germany
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For Europe’s Middle-Class, Stagnant Wages Stunt Lifestyle
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Economic growth and exchange rates for dollar, yen, yuan and euro- policy change in China, Japan and Europe.
08/17/2007
How policy and mood is shifting in China, Japan and Europe for exchange rates between currencies. The desire to be less dependent on exports and increase domestic demand in these countries just as thrifty consumers in the US make earlier policies obsolete.
Grouped Articles
Yen's Fall Aids Japan, Worries Others
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Yen Slumps to Six-Month Low Against Dollar
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Japan Faces Uphill Battle in Curbing Yen's Rise
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Brawny Yuan Stands Apart from the Crowd
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Asia Seen as Better Able to Deflect Waves From U.S.
New York Times 08/17/2007
Geithner Hints at Harder Line on China Trade
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Financial crisis in the Baltic countries and the impact on Sweden.
10/10/2008
Swedish banks have made loans in the Baltic countries amounting to about 20% of Sweden's GDP. It cosuld cost Sweden about 2 to 6% of GDP to recapitalize and rescue its banks.
Grouped Articles
Estonia’s Let-It-Be Economy Is Rattled by Worldwide Distress
New York Times 10/10/2008
Economist 12/18/2008
Euro Tumbles on Concern Over Exposure to Eastern Europe
Wall Street Journal 02/17/2009
Latvia's Government Is the Latest in Europe to Fail
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Economist 02/19/2009
As It Falters, Eastern Europe Raises Risks
New York Times 02/24/2009
The European Union and the economic crisis of 2008-2009.
10/06/2008
How the economic crisis of 2008-2009 affects the European Union.
Grouped Articles
Europe Races to Shore Up Banks as Crisis Spreads
Wall Street Journal 10/06/2008
European Nations Move on Plans to Shore Up Banks
New York Times 10/14/2008
Zaragoza, Beneficiary of Spain’s Heady Years, Feels the Undertow
New York Times 11/04/2008
Unknown 11/18/2008
Auto Makers in Europe Seek Aid as Sales Slump
Wall Street Journal 11/18/2008
EU to Coordinate $164 Billion Stimulus
Wall Street Journal 11/20/2008
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