Euro under pressure in Asia
The euro came under further selling pressure in Asia Thursday owing to concerns about Cyprus as it prepares to reopen its banks after the weekend bailout, while political uncertainty in Italy also weighed.After dropping below $1.28 for the first time in four months on Wednesday, the euro fetched $1.2785 and 120.33 yen in Thursday morning Tokyo trade, compared with $1.2779 and 120.63 yen in New York a day earlier.
What does Euro Debt and Climate Crises have in common? Free Riders
The spotlight on this year’s long-planned climate negotiations in Durban must be shared with the hastily arranged eurozone negotiations in Brussels. These issues seem a world apart, but the fast-moving euro crisis and the slow-moving climate crisis have similar origins. Addressing both require collective action.
Moody’s remains skeptical after recent euro summit
Moody’s position on euro debt crisis remains unchanged after new euro summit. In a recent article, the agency states that the communiqué issued by European policymakers after the recent euro area summit offers few new measures and therefore does not change our analysis of the rising threat to the cohesion of the euro area and the further shocks to which it and the wider EU remain prone.
Why the Euro should Not exist and why Asia should worry about it
Asia does a lot of trade with Europe. The European Union, the larger grouping of 27 countries, to which the Euro group belongs is the largest single economy in the world, accounting for 27% of GDP. In comparison, the United States is 23% of global GDP