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ECB Caught in Currency-War Crossfire

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Central banks around the world are trying to cheapen their currencies in order to boost their economies. This is making the euro more expensive and endangering the recovery of Europe's stricken economies. But the European Central Bank is resisting growing calls to join in the currency war.

Billionaire investor George Soros and French President François Hollande, a Socialist, are in agreement: The world is on the verge of a currency war, and it threatens to destroy Europe.

The Europeans should finally enter the fray and do battle with all their might, says Soros, who made some of his fortune by betting against the British pound. "Europe is an outsider," the 82-year-old recently said at the Davos World Economic Forum. He blamed the European Central Bank (ECB), which he called the last representative of an outdated central bank policy.

Hollande doesn't put it as clearly, but he means the same thing. "A currency zone must have an exchange rate policy, or it will end up with an exchange rate that doesn't correspond to the actual state of its economy," the Socialist told the European Parliament in Strasbourg last week.

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The 1.36 crisis wearing thin or something?

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The 1.36 crisis wearing thin or something?

maybe we have it wrong Q, i was going along with your predictions, but with a raised eyebrow. now, after last night im starting to think maybe its not engineered in the way your thinking. maybe what we are witnessing is the euro currency actually heading for a disaster. it rose against 6 top currencies. and as your article says its going to damage EU exports which are already falling month on month. :w00t:

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maybe we have it wrong Q, i was going along with your predictions, but with a raised eyebrow. now, after last night im starting to think maybe its not engineered in the way your thinking. maybe what we are witnessing is the euro currency actually heading for a disaster. it rose against 6 top currencies. and as your article says its going to damage EU exports which are already falling month on month. :w00t:

Yep, and so has the Euro been falling, from 1.36 a few days ago to 1.34 right now... goal 1.29 (then the rest of the world does not have a chance on the export markets...)

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