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Fudge, the Final Frontier; Europe's Debt Crisis
Oleh:
[s.n]
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
The Economist (http://search.proquest.com/) vol. 400 no. 8750 (Sep. 2011)
,
page 71-72.
Topik:
International
;
Economic Planning
;
Monetary Policy
;
Euro
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
EE29.68
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
September is a cruel month in international monetary history, when regimes that once seemed inviolate have shattered. In 1931 it was the month when Britain went off the gold standard. In September 1992 the same country was booted out of the European Exchange Rate Mechanism. This month will not see the end of the euro, but could go a long way to deciding its fate. The brief period of calm brought about by the European Central Bank (ECB) wading into the bond markets from early August to buy Italian and Spanish government debt is over. That intervention at first lowered Italian ten-year bond yields down from over 6% to around 5%. But yields have been creeping up since late August, and jumped above 5.5% on September 5th (see chart 1 on next page).
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