Forum > View Topic
by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
Ashraf
Gangsters, drug dealers and money launderers appear to be playing their part in helping shore up the financial stability of the euro zone.
That's thanks to their demand, according to European authorities, for high-denomination euro bank notes, in particular the 200 and 500 bills. The European Central Bank issues these notes for a hefty profit that is welcome at a time when its response to the financial crisis has called its financial strength into question.
The high-value bills are increasingly "making the euro the currency of choice for underground and black economies, and for all those who value anonymity in their financial transactions and investments," wrote Willem Buiter, chief economist at Citigroup, in a recent research report. The business of issuing euro notes, produced at almost zero cost, is "wildly profitable" for the ECB, Mr. Buiter wrote.
http://online.wsj.com/article/SB10001424052748704532204575397543634034112.html
Hi Ashraf
Is Eur/Gbp still on track to go down - are there any concerns, that you may have with this pair in changing its direction
Thanks
Ashraf
As i said on CNBC today, USD 3 month libor is falling in a way that is similar to late Q3 2009.
Ashraf
this quote was on 2nd augest and now i feel its superb from ahraf ..........
nice and keep going on ashraf
No GBP is very predictable just raked in 70 pips as cable crashed as expected...i said today is cable's farewell show and it is