Keyword: euro
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The European Parliament’s Sarah Knafo said it’s time to stop “totalitarian temptations” by the European Central Bank and adopt Bitcoin. European lawmaker Sarah Knafo called on the European Union to establish a strategic Bitcoin reserve while rejecting the proposed adoption of the “digital euro,” a central bank digital currency (CBDC) under development by the European Central Bank (ECB). Knafo, a French magistrate and a member of the European Parliament since June, delivered a pro-Bitcoin speech calling on European lawmakers to launch a strategic BTC reserve. “No to the digital euro, yes to a strategic Bitcoin reserve,” Knafo said in an...
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The skies are darkening over Europe’s economy and politics, all thanks to their determination to wage war against Russia. The euro is plummeting to its lowest level in two years. Will the Euro stop at 85 cents in the year ahead? European leaders know that the Eurozone is crumbling, and instead of reform, they have chosen war and to use that as the excuse for the collapse of the Euro in the years ahead. In Putin’s address to the Russian people, he stated that “Russian military facilities in the Bryansk and Kursk regions were attacked by Western missiles.” According to...
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“In a closed society where everybody’s guilty, the only crime is getting caught.”- Hunter S. ThompsonAccording to the FBI, you may be an anti-government extremist if you’ve:a) purchased a Bible or other religious materials,b) used terms like “MAGA” and “Trump,”c) shopped at Dick’s Sporting Goods, Cabela’s, or Bass Pro Shops,d) purchased tickets to travel by bus, cars, or plane,e) all of the above.In fact, if you selected any of those options in recent years, you’re probably already on a government watchlist.That’s how broadly the government’s net is being cast in its pursuit of domestic extremists.We’re all fair game now, easy...
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The vote passed with a razor-thin majority of 291 votes in favour to 274 against, with 44 abstentions. The main proposed changes include the abolition of the principle of unanimity in a total of 65 areas of law, as well as transferring competencies from the member states to the European Union. These include the transfer of inclusive competency on the matters of environmental protection and biodiversity, meaning that law pertaining to those matters would be entirely set at the European level. In addition, the shared competencies would be expanded to seven new areas, those being foreign and security policy, border...
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In the past quarter-century, the Euro’s trajectory has unveiled a stark absurdity, encapsulated vividly in one chart. Before adopting the Euro, the Italian Lira depreciated by a staggering 83% against the Deutsche Mark over 25 years. However, in the subsequent 25 years since the adoption of the Euro, these two currencies have been pegged together. The question looms large: What were politicians thinking when they merged the currencies of economically disparate nations like Italy and Germany? The track record of the Euro tells a tale of unmet expectations. The Euro experiment, designed to foster economic unity, has fallen short. The...
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People in the eurozone area have until the end of August to help choose a theme for the next generation of euro banknotes, as the European Central Bank prepares to revamp single currency for the first time in 20 years. (Euro banknotes are due to get a new look, as the European Central Bank prepares to overhaul their famously dull design.) The bank launched an online survey this week to get Europeans' views on seven potential themes for the new notes, which aren't expected to enter circulation until after 2026. The choices include birds, rivers and culture, as well as...
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Speaking today, US Treasury Secretary Janet Yellen said that there should be an expectation of a slow decline in the US dollar as a reserve currency. Moreover, the statements arrive amidst international de-dollarization efforts employed by a host of countries, including the BRICS economic bloc. Yellen had previously stated her expectation that the US dollar would remain unchallenged as the global reserve currency. However, it appears as though recent developments have shifted her stance on the matter. The global reserve currency status of the US dollar has been a constant headline over the past several months. Indeed, as international trade...
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The European Central Bank is inviting experts in identification and authentication to contribute to the development of rules for the digital euro. A ‘workstream’ is being set up to establish identification and authentication requirements for the digital currency, with the goal of enabling best-in-class user experience and security. Impact assessments for various existing approaches to identification and authentication will also be carried out. The EU’s planned digital currency is expected to be stored in the EU Digital Identity Wallet, with support for peer-to-peer transactions. The Chair of the Rulebook Development Group is setting up several dedicated workstreams to support the...
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India has taken its first step towards liberating itself from dependence on the US dollar by buying oil from Russia in Indian rupees We have seen the continuous rise of the dollar since the First World War. After World War I, in exchange for supplies, the Allies began paying in gold to the United States, due to which America became the world's largest gold reserve. After the end of the war, various countries linked their currencies with the dollar and with this, the 'Gold Standard' ended in the world and thus the dollar became the world's most preferred currency. All...
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FRANKFURT (Reuters) -Euro zone banks are set to repay nearly 300 billion euros ($310 billion) in loans to the European Central Bank next week, the ECB said on Friday, the biggest cash withdrawal from the euro zone's financial system in the euro's 22-year history. The move is part of ECB efforts to fight record-high inflation in the euro zone by raising the cost of credit and it is its first step towards mopping up even more liquidity next year by trimming its multi-trillion-euro bond portfolio. The euro zone's central bank said lenders would repay 296 billion euros worth of the...
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Speech by Thierry Baudet, leader of Forum for Democracy, in the Lower House of the Dutch Parliament (States-General), 22 September 2022, during the series of formal speeches and debates following the King’s speech at the State opening of Parliament. The entire cabinet walked out of the Chamber when Baudet mentioned that the Finance Minister Sigrid Kaag had studied at St Antony's College Oxford and the Speaker then intervened to prevent Mr Baudet from completing his speech. Since the FVD leader was prevented from delivering his speech, on the say-so of the Speaker who represents the party of which Minister Kaag...
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SYDNEY, Sept 26 (Reuters) - Sterling slumped to a record low on Monday, prompting speculation of an emergency response from the Bank of England, as confidence evaporated in Britain's plan to borrow its way out of trouble, with spooked investors piling in to U.S. dollars. Broadening worry that high interest rates will hurt growth hit Asia's currencies and equities too, with exporters from Japanese carmakers to Australian miners hit hard. The pound plunged nearly 5% at one point to $1.0327, breaking below 1985 lows. Moves were exacerbated by thinner liquidity in the Asia session, but even after stumbling back to...
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It came after Russian President Vladimir Putin ordered the partial mobilization of reservists in an escalation of the war in Ukraine and after the Federal Reserve enforced another stark interest rate hike as a response to soaring inflation. ... The European Central Bank (ECB) had joined the push to fight inflation just recently, but has struggled to fully curb it. ...
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NEW YORK — The euro has fallen below parity with the dollar, diving to its lowest level in 20 years and ending a one-to-one exchange rate with the U.S. currency. It's a psychological barrier in the markets. But psychology is important, and the euro's slide underlines the foreboding in the 19 European countries using the currency as they struggle with an energy crisis caused by Russia's war in Ukraine. Here's why the euro's slide is happening and what impact it could have: WHAT DOES EURO AND DOLLAR PARITY MEAN? It means the European and American currencies are worth the same...
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The Euro fell to its lowest level in two decades on Tuesday as fears of a recession in the euro zone ramped up, with gas prices soaring and the Ukraine war showing no signs of abating...The Dollar's strength continues, meanwhile, as risk-averse investors seek a safe haven, and the U.S. Federal Reserve embarks upon what looks to be an aggressive rate hike regime.
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The euro briefly dropped below $1 Wednesday on a stronger-than-expected inflation rate in the U.S., breaking the parity threshold for the first time in 20 years. The shared currency of 19 European countries fell to $0.9998 before ticking up slightly to $1.0021 by midmorning. The last time that the euro hit parity with the dollar was 2002. In the past year, the euro has declined more than 15%. Much of the slide, though, has come since Russia’s invasion of Ukraine in late February. The war has rocked the euro-area’s fragile economy, fueling inflation by pushing up energy prices and threatening...
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MOSCOW, March 3 (Reuters) - The Russian rouble slumped to new record lows against the dollar on Thursday though it closed the Moscow session little changed, after Fitch and Moody's downgraded Russia's sovereign debt to "junk" status, with steps by the central bank and finance ministry failing to halt its slide. Russia's financial markets have been thrown into turmoil by sanctions imposed over its invasion of Ukraine, the biggest attack on a European state since World War Two. The stock market remains closed and trading volume on its sovereign debt has vanished. The rouble ended at 106.01 per dollar in...
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The Russian rouble plunged nearly 20% to a new record low versus the dollar on Monday and the euro sank more than 1% after Western nations announced a harsh set of sanctions to punish Russia for its invasion of Ukraine, including blocking some banks from the SWIFT international payments system. read more The risk-sensitive Australian and New Zealand dollars also tumbled, while the safe-haven yen rallied as Russian President Vladimir Putin ordered his military command to put nuclear-armed forces on high alert on Sunday, the fourth day of the biggest assault on a European state since World War Two. The...
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The European Central Bank (ECB) said on Monday that it plans to give euro banknotes a new look, with the general public in the 19-member eurozone to be asked for its input on the redesign. The euro was introduced in cash form in 2002. The banknotes currently feature windows, doorways and bridges of a generic character from different epochs, with no specific locations represented. […] A decision on the new designs is expected in 2024, the ECB said. The current banknotes do not feature depictions of people, but it is unclear whether that will remain the case. The ECB has...
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So we are in Brussels, capital of the European Union and presumably the inventors of the Euro. I went to buy an item that cost 1.26 so I gave them a 1 Euro coin, 2 10 cent coins and 3 2 cent coins, something that in America we would call exact change. The cashier refused to take it and asked for a 5 cent piece instead. Apparently they have outlawed pennies and 2 cent pieces in Belgium and are now rounding everything either up or down. So the driving force behind the Euro currency now refuses to take their own...
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