Euro zone calls for “responsibility” regarding US dollar

[Say_What]

If Bush is reelected through rigged elections like 2000, we can kiss the country goodbye. Cry for us, Argentina?? (see second article)

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Euro zone Finance and Economy ministers called on “responsibility” from the United States regarding the steady revaluation of the Euro vs the US dollar, fearing the risk of monetary volatility to incipient economic growth in the European Union.

“The problem is being responsible” said French Finance Minister Francis Mer following the Brussels meeting and expressing the Euro zone ministers concern of the “excessive movements” in money exchange markets.

“We particularly express stability and we are concerned about excessive exchange rate moves”, said the release which is the “basics” for the European position for the coming meeting of the G-7, February 6 and 7 in Boca Ratón, Florida that “we will be discussing with our friends the Americans, Canadians and Japanese”, added Mr. Mer.

In spite of the fact many analysts believe the US can live with a weak dollar, as long as financial markets are not affected (as has happened so far), Mr. Mer indicated that this situation is “unsustainable in the long run”, given the growing budget and trade deficits of the President Bush administration.

http://www.falkland-malvinas.com/Detalle.asp?NUM=3153

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Cry for us, Argentina
The US may be headed down the same economic road

By PAUL KRUGMAN

ARGENTINA retained the confidence of international investors almost to the end of the 1990s.

Analysts shrugged off its large budget and trade deficits; business-friendly, free-market policies would, they insisted, allow the country to grow out of all that.

But when confidence collapsed, that optimism proved foolish. Argentina, once a showpiece for the new world order, quickly became a byword for economic catastrophe.

So what? Those of us who have suggested that the irresponsibility of recent American policy may produce a similar disaster have been dismissed as shrill, even hysterical. (Hey, the market's up, isn't it?)

But few would describe Robert Rubin, the legendary former Treasury secretary, as hysterical: His ability to stay calm in the face of crises, and reassure the markets, was his greatest asset. And Rubin has formally joined the coalition of the shrill.

http://business-times.asiaone.com.sg/story/0,4567,104554,00.html

[Hav]

1. .

C'mon, Bush is so strong on the economy!


" Mr. Mer indicated that this situation is “unsustainable in the long run”"

These are exactly my feelings,this Administration is so short-sighted, it's inbelievable that not more Americans are upset about this,some even think he is sooo good for the economy.
Your children and grand children will have to suffer much,I feel,just for a short term advantage for a selected few.

[Art_from_Ark]

2. Yeah, he's really "strong on the economy"

He's trying his hardest to emulate his hero, Herbert Hoover!