Tag Archives: Currency
The Columbia Business School-professor, makes the arguments in an updated edition of his book on the credit crunch, Freefall. In the new material, exclusively extracted in the Sunday Telegraph, he reveals his fears.
“The different needs of countries with high trade surpluses, particularly Germany, and those running deficits such as Ireland, Portugal and Greece, meant that the single currency was under intense pressure and may not survive. He suggests that one way to save the euro would be for Germany to leave the eurozone, so allowing the currency to devalue and help struggling countries with exports.
“Countries that share a currency have a fixed exchange rate with each other and thereby give up an important tool of adjustment,as long as there were no shocks, the euro would do fine. The test would come when one or more of the countries faced a downturn.”
“In Asia, sales jumped 21% to $111.5 million and would have been up 17% excluding currency translations, with the growth led by China, Hong Kong, Macau and Korea. Comparable-store sales rose 7%. The company added its fourth store in Singapore and 12th in China during the quarter.”
Quotes & story via MarketWatch here.
The latest Big Mac Idex from The Economist – Norway on top again – Go to article: Burgeronomics: When The Chips Are Down
“What I’ve learned is that if you have a vision about where the world is going, and you manage to get into the trade at a good level, at the right size, and with the stop-loss in the right place, as long as the market continues to behave as I expected it to behave, then we keep the trade on.”
Are currency traders shameless speculators or essential to the gears of capitalism? Read the story.