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Germany's Schlauch Says Euro Above $1.20 `Danger' to Recovery
Bloomberg ^
| 10/10/03
| BG
Posted on 10/10/2003 9:52:48 AM PDT by Pikamax
Edited on 07/19/2004 2:12:03 PM PDT by Jim Robinson.
[history]
Germany's Schlauch Says Euro Above $1.20 `Danger' to Recovery Oct. 10 (Bloomberg) -- German Deputy Economics Minister Rezzo Schlauch said the euro's exchange rate against the dollar would threaten the economy's efforts to pull out of recession if the dozen-nation currency exceeds $1.20.
(Excerpt) Read more at quote.bloomberg.com ...
TOPICS: Business/Economy; Germany; News/Current Events
KEYWORDS: globalrecession; tradingpartners
1
posted on
10/10/2003 9:52:48 AM PDT
by
Pikamax
To: Pikamax
The realist in me wants to say, "good, let the dollar fall".
Economic recovery is by no means this simple, but you have to remember that a low dollar makes US exports more attractive and imported goods in the US less attractive. If nothing else, a fall in the dollar would stop some of the bleeding here, and fuel job growth. That is one of the benefits of floating currency.
2
posted on
10/10/2003 9:59:18 AM PDT
by
NYFriend
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3
posted on
10/10/2003 9:59:28 AM PDT
by
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To: NYFriend
Sounds like the European have been misunderestimating someone's stratergy.
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