EU-DIGEST

Jan 20, 2010

EUCommissioner Rehn:"China currency rate not acceptable

The European Union's future economy commissioner complained Wednesday about the high value of the Chinese currency against the euro, saying it was not acceptable that it should risk Europe's economic recovery. Olli Rehn was the latest in a string of EU officials to try and pressure Beijing to allow the renminbi to rise against other currencies which would help foreigners export more to China _ and possibly cut the cost and reduce China's massive export flow to the rest of the world.

China shrugged off a November plea to let its currency appreciate in talks with policy makers from the 16-nation eurozone including European Central Bank President Jean-Claude Trichet.

Rehn said Wednesday that "it is not acceptable that China's currency dumping is risking economic recovery in Europe." He also complained that China had helped wreck chances of a global climate change accord in Copenhagen last month, saying it was "clear that China did not want to commit itself to seriously meaningful objective

For more: Rehn: China currency rate not acceptable -AP/Taiwan News Online

Labels: China, Currency, EU

11:04 PM | Permalink | | links to this post

Euro/Dollar Weakness Foretelling Equity Decline

The reactionary policy of central banks and governments in 2008-2009 re-opened the monetary floodgates, a supply increase that outpaced the increasing deleveraging-based monetary demand. The injected liquidity also loosened credit markets, allowing monetary demand and safe haven demand to fall, and increased investor perception.

The next cycle in this reactionary and interventionist game that central banks are playing involves a resurgence of the monetary demand side offsetting the supply. At this stage, an increase in interest rates or another liquidity extraction tool isn't necessary to catalyze a rush to liquidity. The deleveraging and credit tightening is already there and has been continuing, even into the face of a massive rally. This status quo merely needs to offset what's left of monetary supply increase.

For more: Euro / Dollar Weakness Foretelling Equity Decline? -- Seeking Alpha

Labels: Currency, EU, US

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Jul 7, 2009

LA Times: Dollar's future as reserve currency in focus as world leaders meet - by Pan Pylas

For the complete report from the Los Angeles Times click on this link

Dollar's future as reserve currency in focus as world leaders meet - by Pan Pylas

Investors will be keeping a close eye on how far world leaders will go in expressing support for a strong dollar at the Group of Eight summit in Italy, amid talk that the dollar's status as the world's reserve currency will be on the agenda. China, Russia and India have indicated that they want to see long-term changes in the international monetary system in the wake of the financial crisis that has pushed the world economy into its first synchronized downturn since the Second World War.

Labels: Currency, Dollar

10:34 PM | Permalink | | links to this post

Mar 6, 2008

Turkish, European Union Coins Similar

Numismaster.com:

Turkish, European Union Coins Similar
By Richard Giedroyc, World Coin News
March 06, 2008

When mints around the world plan the introduction of a new coin they are usually careful to ensure the new coin is not so close in weight, metal composition, and diameter to other coins elsewhere that a low denomination coin of one country won't be confused for a higher denomination coin of another nation.

There are exceptions, of course. The United States has had its share of such snafoos. Take the 1875 to 1878 20-cent coin that resembled the quarter as one example. A more recent problem was the Susan B. Anthony dollar, often mistaken for a quarter.

Labels: Currency, EU, Turkey

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Jul 12, 2007

EUobserver.com: MEPs defy member states on EU symbols - by Mark Beunderman

For the complete report from the EUobserver.com click on this link

MEPs defy member states on EU symbols - by Mark Beunderman

The European Parliament is considering flying the EU flag and playing the EU anthem more often in its own buildings as part of a political message to those member states who have scrapped the union's symbols from the proposed new EU treaty. The parliament on Wednesday (11 July) adopted its opinion on the EU's reform treaty which was agreed by EU leaders last month and which will be subject to detailed negotiations in a so-called Inter Governmental Conference (IGC) in the coming months. Note EU-Digest: The Unity of the EU at home and abroad is expressed in Symbols; including the Flag, the Anthem and our strong EURO. Those who want to do away with it better get out of the European Union.

Labels: Anthem, Currency, EU, Flag, Unity