euro http://www.globalpost.com/taxonomy/term/20563/all en A very bad day in the European markets http://www.globalpost.com/dispatches/globalpost-blogs/europa/very-bad-day-the-european-markets Markets give their decision on last week's summit and stocks and the euro plunge <p><a href="http://www.globalpost.com/dispatches/globalpost-blogs/europa/very-bad-day-the-european-markets" target="_blank">read more</a></p> British unemployment dollar euro FTSE 100 Home pound Business Debt Crisis Europe Italy United Kingdom Europa GlobalPost Blogs Wed, 14 Dec 2011 17:58:56 +0000 Michael Goldfarb 5684230 at http://www.globalpost.com Euro's 10th anniversary: no celebrations planned http://www.globalpost.com/dispatch/news/regions/europe/111231/euro-10th-anniversary-birthday-celebration-brussels <p> The euro declined against the dollar for the second year in a row, sinking 3.2 percent to $1.2961 against the dollar in New York, Bloomberg News reported.</p> <p><a href="http://www.globalpost.com/dispatch/news/regions/europe/111231/euro-10th-anniversary-birthday-celebration-brussels" target="_blank">read more</a></p> BeNeLux euro Europe Debt Crisis Business Debt Crisis Europe Sat, 31 Dec 2011 21:36:02 +0000 Samantha Stainburn 5685587 at http://www.globalpost.com New year, same euro doubts http://www.globalpost.com/dispatches/globalpost-blogs/europa/new-year-same-euro-doubts <div class="field field-type-text field-field-subhead"> <div class="field-items"> <div class="field-item odd"> British economic think tank predicts 2012 will see the beginning of the break-up of the euro </div> </div> </div> <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Michael Goldfarb </div> </div> </div> <!--paging_filter--><p> Whatever New Year&#39;s glow the markets were experiencing on 2012&#39;s first day of trading yesterday, London think tank the Centre for Economics and Business Research, poured cold water on it.</p> <p> In a <a href="http:// http://www.cebr.com/?p=453">report</a> published yesterday, the CEBR, projected that Greece will leave the euro this year.</p> <p><a href="http://www.globalpost.com/dispatches/globalpost-blogs/europa/new-year-same-euro-doubts" target="_blank">read more</a></p> CEBR euro euro zone debt crisis Greece Home Regions Business Debt Crisis Europe Europa GlobalPost Blogs Wed, 04 Jan 2012 09:29:03 +0000 Michael Goldfarb 5685862 at http://www.globalpost.com The French and the euro: not so happy anniversary http://www.globalpost.com/dispatches/globalpost-blogs/europa/the-french-and-the-euro-not-so-happy-anniversary <div class="field field-type-text field-field-subhead"> <div class="field-items"> <div class="field-item odd"> On 10th anniversary of euro going into circulation a poll shows a majority of the French think the single currency is bad for the country </div> </div> </div> <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Michael Goldfarb </div> </div> </div> <!--paging_filter--><p> Exactly ten years ago, the first euro coins and notes began to circulate around Europe. To mark the occasion the newspaper Journal du Dimanche commissioned a poll from <a href="http://www.ifop.com/?option=com_continent&amp;id=1">Ifop</a> on French attitudes to the single currency. The results are not encouraging for political leaders.</p> <p> A majority of those polled, almost two-thirds, say the euro is not good for France or for them personally. There is a generational shift underlying this view. Anti-euro feeling is highest among the young. The over-65&#39;s are more likely to view the euro positively.</p> <p><a href="http://www.globalpost.com/dispatches/globalpost-blogs/europa/the-french-and-the-euro-not-so-happy-anniversary" target="_blank">read more</a></p> euro euro zone crisis France Home Jean-Marie Le Pen Marine Le Pen Regions France Europe Europa GlobalPost Blogs Wed, 04 Jan 2012 16:02:00 +0000 Michael Goldfarb 5685897 at http://www.globalpost.com Germany's shadow currency? http://www.globalpost.com/dispatches/globalpost-blogs/europa/germanys-shadow-currency <div class="field field-type-text field-field-subhead"> <div class="field-items"> <div class="field-item odd"> In some places the deutschmark is still coin of the realm </div> </div> </div> <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Michael Goldfarb </div> </div> </div> <!--paging_filter--><p> On the tenth anniversary of the euro, there are still places in Germany where the deutschmark is accepted as legal tender. Apparently this is not an exercise in nationalism or nostalgia.</p> <p> Germany is a country where people <a href="http:// http://www.oecd-ilibrary.org/economics/household-saving-rates-forecasts_2074384x-table7">save</a> - as opposed to the U.S. - and there are still billions of deutschmarks in banks, under mattresses, wherever.</p> <p><a href="http://www.globalpost.com/dispatches/globalpost-blogs/europa/germanys-shadow-currency" target="_blank">read more</a></p> deutschmark euro euro zone crisis Germany Home United States Americas Business Debt Crisis Europe Germany United States Europa GlobalPost Blogs Mon, 09 Jan 2012 09:01:00 +0000 Michael Goldfarb 5686429 at http://www.globalpost.com Europe: daily economic round-up http://www.globalpost.com/dispatches/globalpost-blogs/europa/europe-daily-economic-round-0 <div class="field field-type-text field-field-subhead"> <div class="field-items"> <div class="field-item odd"> Downgrades coming? </div> </div> </div> <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Michael Goldfarb </div> </div> </div> <p><strong>UPDATE; THE FRENCH GOVERNMENT HAS ACKNOWLEDGED THAT STANDARD &amp; POOR'S HAS DOWNGRADED THE COUNTRY'S CREDIT RATING ONE NOTCH FROM AAA TO AA+.  </strong></p> <p><strong>"It's not good news, but it's not a catastrophe," said French Finance Minister Francois Baroin. "It's not ratings agencies that decide French policy."</strong></p> <p> </p> <p>The day - and the week - ends with rumors swirling that Standard &amp; Poor's is preparing to issue credit downgrades for a number of euro zone countries including <a href="http://www.globalpost.com/internal/section-config/france">France</a>. How strong are the rumors? If S &amp; P doesn't drop France a notch or two from AAA every newspaper and most of the financial community in <a href="http://www.globalpost.com/internal/section-config/europe">Europe</a> is going to feel real embarrassed.</p> <p>The rumor has sent stock <a href="http://Europe: daily economic round-up">markets down</a>. The euro has lost more than a cent against the dollar.</p> <p><a href="http://www.globalpost.com/dispatches/globalpost-blogs/europa/europe-daily-economic-round-0" target="_blank">read more</a></p> EFSF euro euro zone debt crisis France Home Regions S & P Standard & Poor's Business Debt Crisis France Europe Europa GlobalPost Blogs Fri, 13 Jan 2012 17:44:00 +0000 Michael Goldfarb 5687300 at http://www.globalpost.com European economic news round-up http://www.globalpost.com/dispatches/globalpost-blogs/europa/european-economic-news-round <div class="field field-type-text field-field-subhead"> <div class="field-items"> <div class="field-item odd"> Quiet day in the financial markets but heating up elsewhere </div> </div> </div> <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Michael Goldfarb </div> </div> </div> <!--paging_filter--><p> <strong>Update:</strong> S&amp;P has just&nbsp;<a href="http://www.businessweek.com/news/2012-01-16/efsf-loses-aaa-rating-after-s-p-downgrades-france-austria.html">announced</a>&nbsp;it is making one more downgrade, to a critical issuer of European debt: the European Financial Stability Fund has lost its&nbsp;AAA rating. In parallel with France, it has gone from AAA to AA+.</p> <p> Last Friday, Standard &amp; Poor&#39;s downgraded several euro-zone countries credit ratings, most notably France, which went from AAA to AA+. The headline the next day Britain&#39;s Guardian newspaper was&nbsp; &quot;Friday the 13th&quot; with its attendant implications of misfortune.</p> <p> Today, there was no sign of Jason Voorhees ripping up Europe.&nbsp; The financial markets shrugged everything off. The CAC 40 in Paris finished up 0.9 percent while the DAX 30 in Frankfurt closed up 1.25 percent. The FTSE in London was up 0.4 percent. Not exciting but not negative.</p> <p><a href="http://www.globalpost.com/dispatches/globalpost-blogs/europa/european-economic-news-round" target="_blank">read more</a></p> Angela Merkel Davos dollar euro euro zone debt crisis financial markets Friday the 13th Home Jason Voorhees Mariano rajoy Nicolas Sarkozy Occupy Regions S&P Standard & Poor's sterling Business Debt Crisis France Europe Spain Europa GlobalPost Blogs Mon, 16 Jan 2012 18:12:00 +0000 Michael Goldfarb 5687580 at http://www.globalpost.com Euro blues: Even Malta hates the common currency http://www.globalpost.com/dispatch/news/regions/europe/120202/euro-blues-even-malta-hates-the-common-currency St. Julian's — Nations that had once pledged to adopt the currency are getting cold feet. <p><a href="http://www.globalpost.com/dispatch/news/regions/europe/120202/euro-blues-even-malta-hates-the-common-currency" target="_blank">read more</a></p> euro euro zone economic crisis Malta Europe Tue, 07 Feb 2012 11:47:00 +0000 Ethan Wagner 5690162 at http://www.globalpost.com Sarkozy and Merkel hold special meeting http://www.globalpost.com/dispatches/globalpost-blogs/europe/sarkozy-and-merkel-hold-special-meeting <div class="field field-type-text field-field-subhead"> <div class="field-items"> <div class="field-item odd"> French President makes his close relationship with Merkel a campaign issue. </div> </div> </div> <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Michael Goldfarb </div> </div> </div> <!--paging_filter--><p> Say this about French President Nicolas <span data-scayt_word="Sarkozy" data-scaytid="1">Sarkozy</span>, he takes risks. 80 days before he stands for re-election he held a cabinet meeting and invited a guest to attend: German Chancellor Angela Merkel. It is their <span data-scayt_word="14th" data-scaytid="2">14th</span> joint meeting - giving new meaning to the term &quot;special relationship.&quot;&nbsp; Merkel said it was&nbsp; &quot;quite <span data-scayt_word="noram" data-scaytid="3">noram</span>&quot; for her to be involved in the French presidential election campaign.</p> <p> The BBC has a full report <a href="http://www.bbc.co.uk/news/world-europe-1690717">here</a>.</p> <p> <span data-scayt_word="Sarkozy's" data-scaytid="5">Sarkozy&#39;s</span> close alliance with Merkel has become a serious issue in the election campaign. Marine Le Pen, leader of the ultra-right National Front is running on a platform of taking France out of the euro. She is running a credible third in recent opinion polls. Socialist Francois <span data-scayt_word="Hollande" data-scaytid="6">Hollande</span> is leading <span data-scayt_word="Sarkozy" data-scaytid="4">Sarkozy</span> and he too is taking a very anti-Europe line as arch euro-skeptic, Ambrose Evans-Pritchard, gleefully <a href="http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9062509/French-socialists-Latin-revolt-against-Germany.html">wrote</a> in today&#39;s Daily Telegraph:</p> <p><a href="http://www.globalpost.com/dispatches/globalpost-blogs/europe/sarkozy-and-merkel-hold-special-meeting" target="_blank">read more</a></p> Angela Merkel euro France Francois Hollande French presidential elections Germany Home Marine Le Pen Nicolas Sarkozy France Europe Germany On Europe Europa GlobalPost Blogs Mon, 06 Feb 2012 16:56:00 +0000 Michael Goldfarb 5690560 at http://www.globalpost.com Euro zone debt crisis: War? http://www.globalpost.com/dispatches/globalpost-blogs/europe/euro-zone-debt-crisis-war <div class="field field-type-text field-field-subhead"> <div class="field-items"> <div class="field-item odd"> Hyperbole sweeps the pundits, obscuring the situation </div> </div> </div> <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Michael Goldfarb </div> </div> </div> <!--paging_filter--><p> Sometimes commentators can get swept up in events but the euro zone debt crisis really is bringing out the worst in pundits. Is what&#39;s happening in the euro zone really a kind of warfare?</p> <p> Here is <a href="http://www.nytimes.com/2012/02/15/opinion/europe-v-world.html?ref=opinion">Edwin Truman</a>, of the Peterson Institute for International Economics, in yesterday&#39;s New York Times:</p> <p> &quot;FOR the third time in a century, a bitter conflict fuelled by historic grievances has erupted in Europe, with the United States looking from afar and hoping not to get involved. Of course, this is not being fought on the battlefields but in the arcane arenas of international finance. But as in World War I &hellip; &quot;</p> <p><a href="http://www.globalpost.com/dispatches/globalpost-blogs/europe/euro-zone-debt-crisis-war" target="_blank">read more</a></p> EU euro euro zone debt crisis Germany Greece Home Marshall Plan Regions war World War I Business Debt Crisis Europe Germany Global Economy On Europe Europa GlobalPost Blogs Wed, 15 Feb 2012 11:03:13 +0000 Michael Goldfarb 5691797 at http://www.globalpost.com Greece bailout: what now? http://www.globalpost.com/dispatches/globalpost-blogs/macro/greece-bailout-what-now <div class="field field-type-text field-field-subhead"> <div class="field-items"> <div class="field-item odd"> Today's Greek deal was a long time coming. Here's what you need to know. </div> </div> </div> <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomas Mucha </div> </div> </div> <!--paging_filter--><p> For months now, Greece has been at the center of Europe&#39;s exhausting debt and euro crisis.</p> <p> Figuring out what to do about the mess in Athens has, of course, caused fits from Berlin, to Paris, to Rome, Madrid, Lisbon, London and beyond.</p> <p> So today&#39;s bailout &mdash; while by no means a cure &mdash;&nbsp;is a welcome development for everyone involved. And due to Europe&#39;s central role in the global economy, that means just about everyone on earth.</p> <p> But that happy note aside, it&#39;s important to keep Europe&#39;s challenges in perspective.&nbsp;</p> <p> GlobalPost&#39;s Paul Ames <a href="http://www.globalpost.com/dispatch/news/regions/europe/120221/eu-oks-greek-bailout-looks-new-worries">put it best</a>:</p> <blockquote><p> Now all (the EU) has to do is help the country pull out of a five-year recession, get the one-in-five unemployed Greeks back to work and make sure that Portugal, Ireland, Spain and Italy don&#39;t end up sharing a similar fate.</p> </blockquote> <p> That will be no easy task.</p> <p> As GlobalPost&#39;s Ken Maguire reported today from Athens, plenty of <a href="http://www.globalpost.com/dispatch/news/regions/europe/120221/greece-bailout-eurozone-debt-crisis" target="_blank">Greeks feel like sacrificial lambs</a>&nbsp;&mdash; enduring economic pain so the EU can save the euro.</p> <p> &ldquo;Psychologically, I am close to collapse because I am concerned about my family,&rdquo; Dimitris Paras, a 38-year-old investment banker who was laid off one month ago told Maguire. &ldquo;Now, I either work for a coffee shop or go abroad.&rdquo;</p> <p> &ldquo;There will be a point when people won&rsquo;t take it anymore,&rdquo; he added.</p> <p> Even more troubling&nbsp;&mdash; for European unity, anyway&nbsp;&mdash; is a growing divide about where to go from here.</p> <p><a href="http://www.globalpost.com/dispatches/globalpost-blogs/macro/greece-bailout-what-now" target="_blank">read more</a></p> euro European Union Eurozone Greece Business Europe Macro Tue, 21 Feb 2012 23:10:00 +0000 Thomas Mucha 5692812 at http://www.globalpost.com Finally, a "sort of Marshall Plan" for the EU http://www.globalpost.com/dispatch/news/regions/europe/120430/merkel-hollande-austerity-euro-debt-crisis-marshall-plan-growth BRUSSELS — The ground is shifting in Europe’s debt crisis. The edifice of economic austerity built under the guidance of German Chancellor Angela Merkel is starting to wobble. There’s a new buzz in Brussels about pumping hundreds of billions into a Marshall Plan-inspired fund to get Europeans back to work, devaluing the euro to boost exports or sharing out the euro-zone debt burden. <p><a href="http://www.globalpost.com/dispatch/news/regions/europe/120430/merkel-hollande-austerity-euro-debt-crisis-marshall-plan-growth" target="_blank">read more</a></p> euro Debt Crisis Europe Tue, 01 May 2012 10:00:00 +0000 Paul Ames 5702589 at http://www.globalpost.com Business Insider: Europe faces more economic turbulence, reports Citi http://www.globalpost.com/dispatch/news/spain/120614/business-insider-europe-economic-turbulence-citi-euro-zone-debt-crisis Citi's veteran technical analyst Tom Fitzpatrick has bad news for everyone. <p><a href="http://www.globalpost.com/dispatch/news/spain/120614/business-insider-europe-economic-turbulence-citi-euro-zone-debt-crisis" target="_blank">read more</a></p> euro euro zone economic crisis Europe European Debt Crisis Debt Crisis France Germany Ireland Italy Spain United Kingdom Thu, 14 Jun 2012 17:55:00 +0000 Sam Ro, Business Insider 5707905 at http://www.globalpost.com Business Insider: Greek elections may damage euro http://www.globalpost.com/dispatch/news/business/120618/morgan-stanley-greece-elections-damage-euro The current anger in Greece could trump the fear eventually, and this may constitute some permanent damage to the euro. <p><a href="http://www.globalpost.com/dispatch/news/business/120618/morgan-stanley-greece-elections-damage-euro" target="_blank">read more</a></p> euro euro zone crisis Greece Business Debt Crisis Europe Mon, 18 Jun 2012 18:43:00 +0000 Matthew Boesler, Business Insider 5708254 at http://www.globalpost.com Why 'Bin Laden' euro notes should be abolished http://www.globalpost.com/dispatch/news/business/emerging-markets/130410/why-bin-laden-500-euro-notes-should-be-abolished <p>Demand for 500 euro bills as a store of value has started to decline, according to a currency strategist at one of the world&#39;s largest banks, who told CNBC that the note is used extensively for criminal activity and should be abolished, with the proceeds used to recapitalize European banks.</p> <p><a href="http://www.globalpost.com/dispatch/news/business/emerging-markets/130410/why-bin-laden-500-euro-notes-should-be-abolished" target="_blank">read more</a></p> euro Want to Know Emerging Markets Europe Wed, 10 Apr 2013 18:06:35 +0000 Matt Clinch, CNBC 5809263 at http://www.globalpost.com