Word: euro
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...Greece's main unions - representing about half the country's 5 million workers - in less than a week. Flights were halted when air-traffic controllers walked off the job, schools and government offices were shuttered, and public transport was disrupted. (See why Greece's debt crisis threatens the euro...
...which grounded planes, stopped public transportation and shuttered schools. The recently announced belt-tightening measures include tax hikes and government wage freezes. Greece faces a budget deficit estimated at 12.7% of GDP and the possibility of being the first nation to default among the 16 countries that use the euro...
...debt-provoked currency plunge won't be a miracle cure for the economic ills of all euro-zone exporters. Lafaure, for example, notes that while his euro costs in research and development greatly affect sales price, his company is partly protected by having production sites in dollar-zone countries in Asia - providing a pricing hedge when the euro is too high. Multinationals with affiliates in the dollar zone have benefited from the weaker dollar over the past few years. German electronics giant Siemens, for example, generated nearly 45% of its revenue in 2009 in the dollar region. "The bigger...
...been a long time coming. For much of the past five years, the euro has floated between $1.45 and $1.55, in large part due to U.S. policies aimed at keeping the dollar undervalued so dollar-priced American exports would be more affordable abroad. Debt-spooked markets are now reversing that - something that could over time take the currency closer to the $1.15-to-$1.20 range that experts say is its true value. "The return to a euro-dollar balance of under $1.30 by the end of the year now seems possible," French bank BNP Paribas recently reported. Of course, those...
...venture was a special issue devoted to the theme of “Europhobia: The Hostility Toward European-Descended Americans” that featured a lead article from John Vinson, a member of the white supremacist League of the South, arguing that multiculturalism was replacing “successful Euro-American culture” with “dysfunctional Third World cultures...