euro

As it happens, growth in Europe has picked up in recent months, though a rising euro may slow it down again.

Adopting the euro should open Poland up to more of that sort of trade and the stable, long-term capital investment that goes with it.

The fact is, though, that they are going to have to continue to do that if the euro is going to continue to exist in its current form.

But some US policymakers privately complain that European backing is patchy and tends to go up and down with the euro.

In his speech, Mr Regling hinted that this too might have something to do with inappropriate policies caused by the euro.

JUST a few weeks ago the main question about the euro-area economy was whether it would avoid recession.

"I don't think we've seen the bottom for the euro this year but this latest down leg is running out of steam, " he said.

Should Spain try to break out of this trap by leaving the euro, and re-establishing its own currency?

Progress on such a scheme is always likely to stall because euro-zone countries are reluctant to cede any control of their public finances.

Life is still far from easy in the peripheral states of the United States of Europe (as the euro zone is now known).

With all eyes on the falling euro, the issue of Chinese currency reform seems to have been pushed to the sidelines.

The assumption is still that the euro zone will somehow muddle through, at least for a while.

It is often said that in the face of the euro crisis the EU must either integrate or disintegrate.

For months, he said, he has wagered the Swiss franc would eventually fall, even as the currency routinely hit record highs against the euro.

The most widely used form of English as a second language in Europe is known as the Euro-English.

But the euro was an incomplete currency: it had a central bank but no treasury.

Mrs Merkel departed for Bavaria hoping that the summiteers had done enough to impress the markets and put the euro on a more stable footing.

The dollar is only slightly weaker against the euro when compared to a year ago, just as the financial crisis hit full stride.

While bond yields are sending off worrying signals about Ireland and Portugal, the euro seems to be focused on other things.

Subsidised borrowing may have accounted for much of the acceleration in the ratio of euro-south consumption relative to that of Germany.

In the last decade, its economy has expanded by an average of 3. 7% a year, nearly twice the rate for the whole euro zone.

If Spain and Italy were to get into a vicious cycle like Greece, Mr Tilford warns, "the future of the euro would be very much in doubt" .

All this uncertainty is adding up to an environment where the euro is expected to face continued downward pressure.

You need him for the qualification games for Euros and you need him in Euro to win the Euro 2008. He is a fantastic football player.

It would be wrong to conclude that, in trying to get ahead of the crisis, the euro zone's policymakers have already gone too far.

By removing the weakest members of the euro-zone from the public markets one at a time, they expose the next-weakest to increased pressure.

As always, one feels it won't be long before Porto sell him for a multi-million euro transfer fee and a tidy profit.

Asian investors are looking at it (the euro zone crisis) and saying that they want to be out of euro assets, and even Bunds.

But only a year ago Italy's sluggish economy and fiscal problems inspired talk about a break up of the euro.

The euro continued to be buffeted by uncertainty about a resolution to the Greek debt crisis.

Nevertheless, even if the euro system was not at the heart of the crisis, it needs to be able to withstand two standard deviation shocks.

This is not just a question of non - participation in the euro, the Schengen passport - free zone or EU justice and home- affairs policies.

He said the "cacophony of voices" from different euro zone states had confused markets with mixed messages.

The European Union, another traditional global leader, will need at least another year or two to sort out the euro mess.

A YEAR ago, when the financial crisis was in its infancy, the euro area enjoyed a brief moment in the sun.

The dollar, which like the yen has recently been gaining against rival currencies, climbed against the euro and the British pound.

It is not all to do with America: the euro zone is a mess and manufacturing everywhere seems to be slowing.

But now Makelele, 33, has decided to commit himself to getting France qualified for Euro 2008 and then call it a day before the finals.

If any euro-zone countries were to break free of the shackles of the common currency, the European experiment would be threatened.

There was no agreement to euro-wide deposit insurance or to a common bank-resolution scheme.

HRN: That's a good point. Inflation is a concern in Europe and the Euro seems to be in trouble. Can the Euro survive?

All that suggests the euro will retain its status as a funding currency for carry trades, reducing any chance of a bounce.

The company has been hurt by the weakness of the euro against the yen and said it would raise prices to compensate.

And yet mainstream opinion in Warsaw is in no doubt that the nation's destiny is tied to the euro, and particularly to Germany.

Wilkinson said the euro's failure to push up to $1. 4350 mean it may be vulnerable to a pullback on Friday.

HSBC said the euro's next upside target is $1. 4720, a breach of which should propel the unit to its highest in nearly a year.

Competitive pressure could then force France to leave the euro as well, bringing the monetary union to an end.

A euro zone central bank source told Reuters last week that the ECB would like to see its resources at least doubled.

Those assumptions are generous, since the cuts in spending, coupled with a strong euro, would probably lead to much slower economic growth.

While all this may send euro zone officials up the wall, economists and market participants are fairly dismissive about it.

But the claim that the country was threatening to leave the euro seems to have been wrong, though it caused yet another market convulsion.

And, perhaps, when it comes to that question of euro entry, maybe the pound does not need much of a devaluation.

Should it opt to leave, it would have an incentive not to convert its stock of euro-denominated debts to claims in a new, stronger currency.

With the euro in peril and the US on the brink of bankruptcy, the west seems to have enough to worry about without fretting about cricket.

The euro is in a steady uptrend with no change in outlook for the U. S. economy. The U. S. data is only a little better.

Others said the next target was at $1. 2780, the 50 percent retracement of the euro's fall from mid-April to the June low.

"We have so far only issued euro bonds but we are authorized to use any currency we want if it seems efficient, " he said.

Be prepared to pay a pretty penny if you take a trip to Europe. The dollar fell to another record low against the euro.

He said he also will attend the country-review sessions on China, as he already does with those on the U. S. and the euro zone.

It was one thing to try to hold the euro together from a position of relative strength in the core.

The euro-wide budget deficit also compares favourably with that of other big advanced countries.

Wishing for a "strong" euro when growth is petering out is to be proud to the point of perversity.

Once upon a time , the euro was supposed to help integrate Europe's nations into one seamless, fully- integrated economy .

Years of boom, buoyed by cheap foreign-currency loans and a currency pegged to the euro, have turned to a spectacular bust.

Having said he wanted a referendum on the latest euro-zone rescue package, he rapidly lost the support of his cabinet and his party.

As it stands right now the euro is falling for a reason and neither of those variables look good at the moment.

sterling is beginning to lose a bit of its competitive edge against the euro as Europe's troubles pile up.

The European Union protested mightily, even though its exports have had the advantage of a cheaper euro for the past six months or more.

The euro, which had been falling steadily against the dollar, perked up a bit.

But what do people think of Euro Disney? People everywhere are wondering whether Europeans would like this form of American recreation.

Klaus Regling, chief of the new euro-zone bailout agency, said he could deliver 'substantial' funds 'within days. '

How much official Chinese money has found its way into peripheral euro-zone countries is a matter of guesswork.

German voters were told repeatedly that the euro would be a stable currency and that they would not have to bail out southern Europe.

The only possible alternative, the euro, is structurally flawed and is in what may turn out to be an existential crisis.

"The euro debt crisis and the global financial crisis have increased risk aversion among the investors, " he said.

Conversely, if peripheral Europe had not been tethered to the euro, its currencies would have fallen over the same period.

A year ago it was said that the euro zone could take care of two or three small countries but that Spain was too big to fail.

In another, that's the worry for the stock market, because much like the Euro Zone, the global economy is all interconnected too.

European stockmarkets have slumped and the euro itself fell to its lowest level in a year against the dollar.

The logic was that if you were preparing for financial apocalypse, you had better not rely on the euro area surviving intact.

But he said he was happy to wait, predicting that the dollar would fall further to $1. 45 to the euro by the end of the year.

But in fact both approaches reflect a desire to see a reasonably cohesive EU as well as a viable euro.

First would be a renewed assault on the eurozone. That would force money out of the euro and into the dollar.

He said the fates of Italy and Spain are intertwined, and integral to the euro's near-term fortunes.

Greece is prepared to ask euro- region governments for a bridge loan as $11. 3 billion in bonds come due next month.

On the political side, the long-term fix to the euro's malaise is said to be a fiscal union, a true political federation.

EVEN by the euro zone's undemanding standards, a summit deal that survived less than a week is lamentable.

In a euro-less Europe, its trading partners could have erased some of that advantage by devaluing their currencies.

The Republic can now stay with the euro if it wishes despite my personal view that it would be better off going back to sterling.

Except in a default, they avoid any fiscal transfer of the kind that would be anathema to the euro zone.

Greece is prepared to ask euro- region governments for a bridge loan as $11. 3 billion in bonds come due next month.

On the political side, the long-term fix to the euro's malaise is said to be a fiscal union, a true political federation.

EVEN by the euro zone's undemanding standards, a summit deal that survived less than a week is lamentable.

In a euro-less Europe, its trading partners could have erased some of that advantage by devaluing their currencies.

The Republic can now stay with the euro if it wishes despite my personal view that it would be better off going back to sterling.

Except in a default, they avoid any fiscal transfer of the kind that would be anathema to the euro zone.

It's unbearable to think England may not qualify for Euro 2008, so we have got to make sure that we win our remaining qualifying games.

It is hard to imagine Jacques Delors, one of his most energetic predecessors, lying so low with the euro in such a state.

The politicians who planned the euro generally did not think about future current account imbalances or other economic problems.

As the euro's troubles go on, however, the signs are that the German electorate is becoming steadily less eager to go along with it.

It is hard to imagine Jacques Delors, one of his most energetic predecessors, lying so low with the euro in such a state.

The politicians who planned the euro generally did not think about future current account imbalances or other economic problems.

As the euro's troubles go on, however, the signs are that the German electorate is becoming steadily less eager to go along with it.

I feel sorry for the Europeans, but let's face it: a year ago the euro was at $1. 50, now just $1. 40.

The crisis has toppled seven euro-zone governments in less than a year, including those in Spain, Italy and Portugal.

"We're now fairly bullish on the euro. It's actually one of our largest overweight positions, " he said.

The euro remained around a two-month high against the US dollar, while Europe's bond and equity markets did not budge on the news.

We'll continue to watch the EURO, as all the other currencies seem to be following its lead at the moment.

The euro has lost about 12 percent of its value against the dollar since the beginning of the year.

But a senior euro zone source said the idea was unlikely to go away and more talks could be expected next year.

But a senior euro zone source said the idea was unlikely to go away and more talks could be expected next year.

He said he wishes now that he had bought the currency versus the euro, too.

The euro area, he said, was currently its epicentre, and the consequences could be much worse than anything seen so far.

But, he said, creating a 'stability fund for the euro'-the larger part of the package-had to be 'a matter for the euro-group countries. '

The sexual assault charges throw the IMF into turmoil just as it is trying to ease an escalating euro zone debt crisis.

Pressure had been building on a number of fronts, but the issue which finally destroyed her was the yet-to-be-born euro.

Then, he said, "the euro will become more appealing as a reserve currency" .

Individual countries within the euro zone might be in peril, but not the common currency itself, he said.

Since the euro crisis is currently exerting an overwhelming influence on the global economy I shall devote the rest of my talk to it.

Of course, this is purely hypothetical because, if Germany were to leave the euro, the political consequences would be unthinkable.

With black eyes and a few teeth missing, the euro clawed its way back over the $1. 20 barrier Wednesday morning.

Unfortunately, in the case of Greece and Portugal at least, even this will not guarantee continued membership of the euro.

It is not clear that voters will thank him for his trouble, though they may appreciate his energetic efforts to solve the euro-zone crisis.

It would have to be a multistep process, just like the introduction of the euro itself during the 1990s.

The sensible goal of a more balanced world economy is entirely consistent with a weaker dollar and a stronger euro.

The scheme is open to EU countries that do not use the euro: Poland and Sweden say they will sign up to it; Britain says it will not.

Terrified by the consequences of the euro's failure, they have urged fiscal union on the eurozone as a means of shoring up the currency.

However, the euro's move so far does not seem to be out of line with fundamentals or long-term values.

But there has never been anything like the current crisis over the euro.

He said he was very concerned about a renewed intensification of the euro zone's debt crisis.

"If you were a euro-based billionaire, you could've done nothing and seen a 20 percent increase" over the past two years, Kroll said.

If it fails to do so, Greece may be forced to bid farewell to its membership of the euro zone, whether it wants to or not.

The euro makes it easy to compare prices across 16 countries, and the single market allows goods to move freely within the European Union.

Contrary to what is often asserted, Greece would not collapse if it quit the euro.

Just as in 2001, however, the outlook for the euro area seems to be deteriorating a lot faster than the optimists had expected.

Consumer confidence in the euro zone tumbled to its lowest level in two years, the Brussels-based European Commission said Thursday.

Over the long term, Mr Rutte said, the eurozone should force countries to leave the euro if they did not abide by the commissioner's ruling.

If the euro were to disappear altogether, the question of how to handle euro-denominated contracts would be a legal morass.

One of the euro's big attractions was that it offered many countries a shortcut to a credible monetary set-up.

The authorities were confident, however, that if and when the euro ran into a crisis they would be able to overcome it.

Merkel said the solution to the current crisis was in closer economic cooperation in Europe and especially in the euro zone.

The point of the euro, for the French and others, was to make the system European, not German.

It is still in one piece. As they relax this Christmas, the architects and guardians of the euro can at least make that claim.

Although there was no fixed theme for this year's meeting, the strength of the euro zone was an important issue.

The optimistic outlook is that this correction would take the form of a catching up by the euro area in productivity growth.

Over the medium-term, Englander believes the euro zone will be able to resolve its issues, but he says the next month may be a "bit rough. "

Fifth, it is often said Ms Merkel fails to realise that saving the euro is profoundly in Germany's own interests.

China has about $2. 4 trillion in foreign reserves overall, though it doesn't reveal how much of that is in euro-denominated assets.

Frankel said he would have expected to see a shift towards euro-denominated assets.

Even where troubled euro-zone countries had not been profligate, they have been running unsustainable current-account deficits.

I recall that in the early years of the euro zone there was a general notion in the markets that the Greeks were behaving like the Germans.

'We are prepared to work with our counterparts in the euro area to see in what way we can . . . normalize market conditions, ' he said.

Investors are also watching to see if the Fed discusses the sovereign debt crisis in the euro zone and its impact on the U. S. economy.

The only thing likely to win the euro friends would be a coherent response to the crisis. But that looks a way off yet.

Specialists and professors do not know either, at least within a broad range of dollar-euro rates between say, $1. 0 and $1. 3.

Without it, dysfunctional bond markets would not be able to transmit the central bank's interest-rate stance to the euro zone's economy.

It is a cruel irony that the euro could be felled by an Italian trying too hard to be a German.

That said, I reserve the right to resubmit my examination paper if Europe's leaders are foolish enough to let the euro zone sink.

Although she said that "political union" was necessary to save the euro, she also ruled out the use of Eurobonds.

That was a mistake that at least some of us have been pointing out since the very birth of the euro.

The euro zone's crisis has tested the efficacy of these European rules and led Germans to ask why they should pay when others break them.

Mrs Merkel speaks often of the need to save the euro, but she acts as if there were no imminent danger.

One surprising result of the crisis has been a softening of opposition to the idea of adopting Europe's single currency, the euro.

Logically, therefore, if those three options are not possible, the only path left is to leave the euro zone.

Since the money supply would be shrinking fast, as euro deposits fled the country, this sort of paper would be accepted readily.

Italy is among the biggest borrowers in the world, and its debt accounts for nearly a quarter of the total debt of the overall euro zone.

Late Tuesday the euro should turn higher and rally for a minimum of a week and possibly longer.

Third, the rules of the euro area turned out to be about as solid as a slice of brie left out in the midday sun.

By contrast, euro-zone governments were able to pile on debts for a decade way beyond what would have been tolerated of Latin America.

French President Nicolas Sarkozy said the Greeks would get no more euro-zone rescue aid until the question is answered.

If the issuing country were to leave the single currency, a five-euro note would still be worth five euros, whatever the serial number.

Cameron's veto saves their blushes. But it does not save the euro and for that there is likely to be payback for the British.

Jitters about whether the emergency loan package would be enough to stem the euro zone's sovereign debt crisis also hammered Spanish stocks.

The euro, which had rallied strongly from mid-January through the end of April has lost more than 5% this month against the dollar.

But if Greece's partners bail it out, defying the euro's founding treaty, the currency will suffer. Either way, the euro is in trouble.

The trouble is, the euro area has no mechanism to help a member that cannot fund itself in capital markets.

German Chancellor Angela Merkel said Stark stood for a "culture of stability" in the euro zone to which her government strongly adhered.

The British minister George Osborne said the discussions in Paris had brought the euro zone reforms a step closer.

Over longer time horizons, inflation expectations in the euro area seem to be well anchored at levels below but close to 2%.

It would be a tragedy if the attempt to save the euro were to put the single market at risk. Germany would not want that either.

With the three main parties all pro-EU and euro, it is hard to see how the True Finns could fit into a coalition.

THE decline of the euro is often treated as a matter for exporters alone.

With a few exceptions, the benchmark cost of credit in each euro-zone country is related to the balance of its international debts.

Spain's Cesc Fabregas says that he has no intention of letting Sunday's Euro 2008 final against Germany slip through his hands.

SO FAR, France's creditworthiness has not come under as much scrutiny as that of other euro members.

To leave any sort of legacy, he needs to build a credible system of economic governance for the euro.

Overall, a strong euro and a 27 per cent increase in Guangdong's exports to Europe have compensated for a weak dollar and soft US market.

Volvo is trying to reduce currency-exchange risk around the world, especially the euro-U.

His reward was that the euro zone will have two summits a year and its own secretariat.

It has suddenly become respectable to ask the question: what would happen if the euro broke up?

Some analysts have predicted the crises in the Euro Zone, however, could force the union to break up in the coming decade.

'There's a fundamental question of whether the euro will exist in its current form, ' Mr. Cookson says.

Against the Japanese yen, the euro fell to a four-year low and is now only three-quarters of its value in July.

The euro was also buoyed by data showing German consumer sentiment at its highest level in over a year.

The employers' federation, Confindustria, frets that higher oil prices, rising interest rates and a strong euro could derail the recovery.

I admit to having thought it possible that the euro itself might have prevented these historical differentials from reasserting themselves.

One useful means of allaying the panic might be for euro-zone countries to issue part of their debts joint bonds.

The question of what happens to euro-denominated contracts if the euro dissolves is a thorny one.

The Swiss franc, the only European franc not to have been replaced by the Euro, is used in Switzerland and Liechtenstein.

Of course, one might argue that this represents uncertainty over the dollar as much as the euro.

Britain, it is said, may have looked isolated after some two dozen countries signed up to the latest half-baked wheeze to save the euro.

On Friday, Jean-Claude Juncker, chairman of the eurogroup of finance ministers, said the euro was too strong against the US currency.

At the start of this year a surging recovery, led by Germany, was one reason to think that the euro zone could withstand the debt crisis.

Fund managers now seem to be reluctant to hold any euro-zone government debt.

First the euro, now Schengen. Europe's grandest integration projects seem to be suffering.

Now, with Italy falling off a cliff, it's hard to see how the euro can survive at all.

The euro is at risk and Europe may be facing its greatest challenge since the founding of the European Union, Merkel said.

On a chilly October evening in her austere chancellery, Angela Merkel placed a confidential call to Rome to help save the euro.

The much-forecast break-up of the euro seems to be having much this effect on the currency markets.

In the United States, the euro debt crisis has worked like this: The euro's pain has been the U. S. dollar's gain.

Markets continued to gyrate amid fears of a euro-zone meltdown and rumours of a political solution.

Rossi says the fate of Greece and its place in the euro zone is in Greek hands, but its grip is weak.

A year ago they tore up the rule book to bail out Greece and to ward off market attacks on other fiscal reprobates in the euro area.

The next day, a Friday, euro-zone leaders were due in Brussels for a quick meeting to approve the Greek package.

The euro zone risks getting caught up in this process with an overvalued exchange rate at the wrong time.

A Spanish default would destroy the credibility of the euro, and quite possibly the currency itself, at least in its current form.

News of a euro-zone fragmentation, if it comes, will come suddenly, like a declaration of war.

Its finance chief, Bodo Uebber, said the weakness of the dollar and pound against the euro also posed bad news.

In short, the euro zone would be reckless to flirt with collapse when an affordable rescue is possible.

Yet business and consumer confidence seem to be picking up across most of the euro area.

In particular, a dollar rally against the euro could end the rally in commodities, hurting profits at oil and mining companies, he said.

So far Ireland and Latvia have been willing to take the pain of required economic adjustment as the price of euro membership.

Even if the euro-zone crisis were to be solved tomorrow, the region's GDP would probably shrink over the coming months.

Even so, it is wrong to conclude that, in trying to get ahead of the crisis, the euro zone's policymakers have gone too far.

Not since the euro was created has there been such a big shortfall and there appear to be several factors at work.

Investors do not seem convinced that euro-zone governments will be able to muster the political will to hammer out an agreement.

But what Greece has decided and has implemented is the best signal to date that the euro as a means of structural transformation is working.

As any German would surely also remember, such devaluations meant that there was no German trade surplus before the euro.

The crisis is taken as evidence that the euro area is so far from being an optimal currency area that it is doomed.

Some parts of the private sector are also beginning to express concern about the euro's rise.

Their headache comes from trying to save the euro without enraging their voters.

Now he would urge the league's boss, Umberto Bossi, to abide by proposals to have a uniform retirement age of 67 across the euro zone.

The German figures, the best since reunification almost two decades ago, meant that the euro-area economy had a good quarter, too.

The euro, then, would proceed. And for a while, everything seemed to go well.

They stress the lack of experience in high office of the would-be Socialist candidates, at a time when the euro-zone crisis is deepening.

"Given this, the near-term dangers of a disorderly default and a Greek exit from the euro appear to have diminished. "

The European Central Bank sets interest across the 16-member euro zone but has no direct power over members states' fiscal policies.

As inflation exceeds its own definition of price stability, a strong euro is in the interests of the eurozone.

The euro has no "inherent problems, " except for the incompetence of its managers.

Yet that raises a further question: have leaders now done enough to put the euro zone on a sound footing?

Private banking sources said the new bonds could be guaranteed by the euro zone's rescue fund (EFSF) or the European Investment Bank.

Of course my concept of a no-default workout assumes that Greece can resume growth while remaining tethered to the euro.

President Nicolas Sarkozy of France said the two-day summit was the EU's last chance to save the euro.

And he has blamed the bank both for failing to cut interest rates and for negligently letting the euro appreciate.

I don't believe the euro zone can survive in its current form, and I think Europe is in for a deep recession, not a short shallow one.

But Japan is the only sovereign issuer of yen bonds, while Greece is the least creditworthy of the many countries offering euro bonds.

They said it was a second-best solution that failed to stabilise the euro and restore the trust of the financial markets.

But Europe needs the euro, he said, adding: 'The difficulties that we have can be overcome. '

Ultimately, however, the question of the euro and the European financial system comes to rest with France.

His move to Formula 3 Euro Series was delayed by a road accident (as a passenger) which left him with serious injuries to his right arm.