France in ‘Vigilance’ Plea on Falling Dollar
November 28th, 2006The other day, in a comment, I wrote:
China holds all the cards now. Everyone knows it. They have been keeping the music playing these last few years, and they can pull the plug on the U.S. at their whim. Of course, it’s more complicated than that. The U.S. and China are now in a Mexican standoff. If the Chinese think they’re going to sell larger quantities of crap to people who pay in Euros, what do they think is going to happen to the Euro when Americans stop buying BMWs, Airbus aircraft and all the rest of it?
Don’t forget the stinky and delicious French cheese!
Via: Financial Times:
France on Monday led European concern over the rising euro in an apparent attempt to put pressure on the European Central Bank not to jeopardise eurozone growth prospects ahead of next year’s French presidential election.
Thierry Breton, France’s finance minister, urged “collective vigilance†in the face of the falling US dollar. He promised to raise the euro’s recent rally with fellow eurozone finance ministers at their monthly meeting in Brussels on Monday night.
[…] Another day, another deja vu moment for Cryptogon readers who remember this post. […]