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The Falling Dollar Annoys some European Officials

International Herald Tribune:
Jean-Claude Juncker, who heads the group of finance ministers from the 13-nation euro zone, criticized the perceived indifference in Washington toward U.S. policies - including trade and budget deficits - that most economists believe are contributing to the intense downward pressure on the dollar. "Europe cannot be the area of the world's economy that will bear the consequences of others' inaction," Juncker said late Monday, Reuters reported. (...)
Though German companies have reported some negative effects, Finance Minister Peer Steinbrück has stayed sanguine, even going so far as to declare his "love" for a strong euro.


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Pat Patterson on :

And to top off a bad week for European exports a leaked document charges that French authorities are investigatin some 1,2000 Airbus and EADS executives for selling their stock, by using their insider knowledge, in the year between the A380 problems became apparent and the public announcement. Problems with management, political meddling, French and German design incompatibilies, insider trading and the difficulty of selling the A380 due to it being dollar denominated all contributed to this perfect storm. All those other things are minor to the idea that the US simply doesn't pay attention. But I have heard that the main reason that the French executives took their profits early was that they heard that the Edith Piaf show in New York was sold out except for scalpers and prohibitively expensive. While the German executives heard there was going to be a revivial of The Producers. Another problem was that they had to get disguises to fly in the 737s of Ryanair or Southwest Airlines. But since neither services fly to Europe yet the executives had to make plans to escape in mufti on airlines that they might be recognized on. Ok, I made that last part up. [url][/url]

Pat Patterson on :

[url][/url] This link should work!

Kevin Sampson on :

Keeping the Yen as low as possible has been an integral part of Japanese economic policy for the last half-century. And keeping the Yuan as low as possible looks set to be an integral part of Chinese economic policey for the next. So we're in good company, and I guess it's y'alls turn in the barrel.

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