Posted on 03/02/2008 6:18:45 PM PST by rb22982
DUBLIN, Ireland (AP) — Hugh Quinn has seen the ever-weakening dollar shatter his ability to sell hand-cut Irish lead crystal to American customers.
Ingolf Haas says profit at his family-run cuckoo clock business in Germany has dropped at least 10 percent since the U.S. currency's latest decline began. Roberto Anselmi now sells more of his Italian white wine to Canada than to the United States.
Times are tough for small and artisanal businesses across Europe that traditionally target Americans as their No. 1 buyers, since the swooning dollar shrinks their revenues from U.S. sales but their costs remain in expensive euros.
The problem is compounded by economic worries that may make Americans think twice about buying the products they coveted and consumed in more prosperous days.
With the euro topping $1.52 this week — up from $1.18 when it was introduced in 1999, and from 82 cents at its lowest in 2000 — economists say all euro-denominated exporters have reason to be worried. But tourism-oriented producers of luxury goods are hurting the most.
(Excerpt) Read more at money.excite.com ...
That is damn good news.
The euros will be brought to their knees as they lose their markets. They are losing their export markets to Americans.
every so often the decks need to be cleared.
the pendulum is about to swing back.
euro is ridiculously overvalued.
yes but.....
it will take time to fall and then there will be a lag.
We will have the amrkets for several years because of momentum
no, it will only take more light to be shed on all the fraud happening in europe.
that light will shine when the players have sucked as much from the dollar that they can get....then they’ll switch positions. and it will be dramatic.
soc gen, siebel....just the beginning. no controls.
or you might beleive that since adding member states like poland that the euro is worth double what it was a few years ago. purchasing parity.
Well, I live in Hollywood and usually, the shows shot in my hometown of Vancouver, Canada are having hard time attracting the American film companies that usually operate there. Smallville has cut it;s prodn for next year if the trend continues.
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