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Old 03-24-2009, 11:12 PM   #1
peaceandlove
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Join Date: Sep 2008
Location: Turtle Island
Posts: 2,776
Arrow Euro Currency of Choice as Fed Easing Devalues Dollar

Euro Currency of Choice as Fed Easing Devalues Dollar

By Oliver Biggadike

March 23 (Bloomberg) -- Less than a month after lambasting European Central Bank President Jean-Claude Trichet for failing to keep up with Ben S. Bernanke’s efforts to stem the recession, foreign-exchange traders are glad he’s behind the curve.

The 16-nation currency strengthened 7.7 percent versus the dollar since February, after tumbling 9.3 percent in the first two months of the year. JPMorgan Chase & Co., Morgan Stanley and Citigroup Inc. are advising investors to buy euros.

Article continues: http://www.campaignforliberty.com/wire.php



IMF says clean up banks to tackle dire world crisis
Mon Mar 23, 2009 9:22am EDT

By Jonathan Lynn

GENEVA (Reuters) - The world is in a dire economic crisis, but no recovery is possible until the financial sector is cleaned up, the head of the International Monetary Fund said on Monday.

The crisis will push millions into poverty and unemployment, risking social unrest and even war, and urgent action is required, IMF Managing Director Dominique Strauss-Kahn said.

"Bluntly the situation is dire," he told a meeting on the crisis at the International Labor Organization, a United Nations agency representing unions, employers and governments that studies Labor issues.

Strauss-Kahn was talking less than two weeks before a summit of the G20 leading nations on April 2 to tackle the crisis.

Article continues: http://www.campaignforliberty.com/wire.php
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