Euro Falls to 13-Month Low as Credit Crisis Spreads to Europe

Discussion in 'Politics' started by Ps104_33, Oct 5, 2008.

  1. Ps104_33

    Ps104_33
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    Oct. 6 (Bloomberg) -- The euro slid to a 13-month low against the dollar as a deepening credit crunch forced European governments to pledge bailouts of troubled banks and increase protection for depositors.
    The 15-nation currency fell to the lowest in more than two years versus the yen as Germany joined with banks and insurers to bail-out property lender Hypo Real Estate Holding AG and Belgium announced a revised deal to rescue Fortis, the largest Belgian financial-services firm. The yen also gained against the Australian and New Zealand dollars as investors pared holdings of higher-yielding currencies funded with Japan's currency.

    http://www.bloomberg.com/apps/news?pid=20601087&sid=avC.1.PvSqHg&refer=worldwide
     
  2. KenH

    KenH
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    There is no doubt that this recession or depression will be worldwide. Very sad economic times coming for the world, I think.
     
  3. NaasPreacher (C4K)

    NaasPreacher (C4K)
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    Hey, I get paid in dollars and have to buy euro - any good news is a help at the moment :)
     

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