Dollar Alarm
The Wall Street Journal Europe
15 Aprile 2008
The G-7 finance ministers rediscover currency risk
Awakening from their long slumber, the G7 finance ministers have finally admitted that a global run on the dollar is a bad idea. The currency markets will no doubt begin testing immediately to see if they mean it.
At their weekend meetings in Washington, the G7 ministers dropped their long neglect of the dollar and noted that "Since our last meeting, there have been at times sharp fluctuations in major currencies, and we are concerned about their possible implications for economie and financial stability. We continue to monitor exchange rates closely, and cooperate as appropriate." Translation: We don't want the dollar to keep falling, and speculators might get burned if they bet on further …
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