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NEW YORK (AP) —The dollar climbed against the euro after the credit ratings agency Fitch slashed Ireland’s debt rating,saying its big bailout showed its debt crisis was worse than had been known. The move highlighted the euro region’s problems and prompted traders to resume selling euros. The European Union bailed out Ireland because . . . →Read More:Dollar climbs after Fitch cuts Ireland’s ratings Further readingDollar gains vs euro,yen after Obama,GOP make a tax deal that could boost US economy The dollar kept gaining against yen and edged higher versus the euro Wednesday in the aftermath of a tax package that,if passed,could boost the U.S. economy. Republican leaders and the White House made a deal extending . . . →Read More:Dollar higher after Obama,GOP make a tax deal  Leave a comment  Forex News  Bailout,Bond Markets,Canadian Dollars,Debt Crisis,Debt Levels,Early November,Enough Money,European Banks,European Countries,European Leaders,Extending Unemployment Benefits,Government Debt,Income Groups,Japanese yen,Payroll Tax,Republican Leaders,Stress Tests,Swiss Francs,Tax Cuts,Treasury Bonds The late Walter Wriston,a former chief executive officer of what is now Citigroup Inc.,was noted for saying that countries don’t go bankrupt. Nations can default,of course,and many did so in the 1980s. Today’s European leaders and bankers could learn from those experiences. While countries don’t liquidate assets to pay off creditors, . . . →Read More:Europe’s Bust Debunks Citigroup Once Again:Brendan Moynihan Leave a comment Forex News Chief Executive Officer,Citigroup Inc,Credit Default Swaps,Debt Crisis,Debt Problems,Deposit Insurance,Depositors,Emerging Market Countries,EUR,Euro 1,European Leaders,Financial Lifeline,Foreign Currencies,International Monetary Fund,Lesser Developed Countries,Reneged,Rollover Risk,Sovereign Debt,Sovereign Nation,Term Interest,Walter Wriston | ||
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Guest Commentary:The Dollar Survives Again
Given all that stress that the Federal Reserve’s currency debasement program is laying on the global economy,last week’s G-20 summit in South Korea should have been the monetary equivalent of a military degradation for the U.S. dollar. The greenback should have been slapped across the face,stripped of its medals,and cashiered from the . . . →Read More:Guest Commentary:The Dollar Survives Again