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The Bigfella
01-07-2010, 08:18 PM
Sheesh, where's Mark when we need him?



FRENCH President Nicolas Sarkozy urged an end to the US dollar's global dominance, warning that its weakness poses an "unacceptable'' threat to European competitiveness.

"The monetary disorder has become unacceptable,'' said Mr Sarkozy, who later this month is due to address the world economic forum in Davos.

"The world is multipolar, the monetary system must become multi-monetary,'' he said in an apparent call for other currencies to be promoted over the greenback.

The dollar has weakened considerably against the euro in the past year, making euro-priced exports more expensive and putting eurozone producers at a competitive disadvantage.

Mr Sarkozy said on Wednesday that the dollar's weakness posed a "considerable'' problem for French businesses and should be "at the centre of international debate''.

Overnight he told a Paris conference on new approaches to capitalism that ``we cannot fight in Europe to improve the competitiveness of our businesses ... and have a dollar that is losing half of its value''.

Mr Sarkozy's office has said he is due on January 27 to give the inaugural speech at the annual forum of world political and business leaders in the Swiss resort of Davos, becoming the first French president to attend the gathering.

He took a harsh stance during the global crisis against freewheeling capitalist practices and pushed hard for a stricter line on bank regulation and tax evasion, taking a vocal role among leaders of the G20 grouping.

He has said he wants to transform the international monetary system when France takes over the leadership of the G20 in 2011.

Mr Sarkozy's view gained the backing of the Nobel Prize-winning US economist Joseph Stiglitz, who was taking part in the Paris conference.

The French president "articulated ... some of the problems with the global financial system, the currency and how it is putting Europe at a disadvantage,'' said Prof Stiglitz, who was an adviser to former US president Bill Clinton.

"A dollar-based system ... might have made sense in the 20th century but doesn't make sense in the 21th century.''

Overnight, the euro fell to $US1.4353, having traded late last year around $US1.50 levels.


I don't quite see it the French way. This competitiveness issue only comes in for trade between France and the US. It doesn't impact elsewhere. Besides, no-one trusts the Europeans when it comes to money.

Paul Pless
01-07-2010, 08:23 PM
FRENCH President Nicolas Sarkozy urged an end to the US dollar's global dominance, warning that its weakness poses an "unacceptable'' threat to European competitiveness. what a wonderful sense of irony the french have

Hwyl
01-07-2010, 08:32 PM
I don't quite see it the French way. This competitiveness issue only comes in for trade between France and the US. It doesn't impact elsewhere. Besides, no-one trusts the Europeans when it comes to money.


Ummm Ian, there's this thing called the EEC, most of the members use the Euro. In September the Euro was already held in higher regard by traders in Turkish bazaar than the dollar. So I think we can accept that the greenback is already playing second fiddle to the Euro (I accept this may be temporary). In my business prices are now generally quoted in Euros.



Besides, no-one trusts the Europeans when it comes to money. I thought that's what the rest of Australia says about Sydneysiders.

The Bigfella
01-07-2010, 08:38 PM
Maybe in Europe Gareth, but not in global markets.

Rest of Australia? Who's that? A couple of million Greeks in Melbourne? If it wasn't for government fandangling, places like Adelaide wouldn't exist.

purri
01-07-2010, 08:48 PM
Ummm Ian, there's this thing called the EEC, most of the members use the Euro. In September the Euro was already held in higher regard by traders in Turkish bazaar than the dollar. So I think we can accept that the greenback is already playing second fiddle to the Euro (I accept this may be temporary). In my business prices are now generally quoted in Euros.

I thought that's what the rest of Australia says about Sydneysiders.
I resemble that remark! :D
BTW if you don't live in Sydney's eastern suburbs you're just slumming it.

Hwyl
01-07-2010, 09:10 PM
Maybe in Europe Gareth, but not in global markets.
Maybe in Europe Gareth, but not in global markets.

The EEU is clearly a global player now.


BTW if you don't live in Sydney's eastern suburbs you're just slumming it.

Most of my info comes from Tazzy's

purri
01-07-2010, 09:51 PM
Tassie= Essex

shamus
01-07-2010, 09:57 PM
Tassie = Essex

Hmm. I don't seem to be getting any.:cool:

bobbys
01-07-2010, 09:58 PM
Do this mean i have to call them French Fries instead of Freedom Fries now?

seanz
01-07-2010, 10:05 PM
Do this mean i have to call them French Fries instead of Freedom Fries now?

It does if you can still afford them.
:p

Remember all that Cheese Eating Surrender Monkey trashtalk that was being flung around a few years back?
The French remember it too.
;)

The Bigfella
01-07-2010, 11:07 PM
Maybe in Europe Gareth, but not in global markets.

The EEU is clearly a global player now.



Most of my info comes from Tazzy's

The EEU is "all about stopping wars, M'boy" according to a relative of mine who used to head up a UN division. They seem to have kept a lid on things like that over there for a while, which is good. As to their global player status... they are still somewhat inward focused, aren't they?

As for Tassie.... 2% of the population live down there... and bludge on the rest of the country to a fair extent.

PeterSibley
01-07-2010, 11:12 PM
It does if you can still afford them.
:p

Remember all that Cheese Eating Surrender Monkey trashtalk that was being flung around a few years back?
The French remember it too.
;)

:D:D
You have a friend in Europe .

purri
01-07-2010, 11:29 PM
Hmm. I don't seem to be getting any.:cool:
They like to keep it in the family.:D

brad9798
01-07-2010, 11:43 PM
Rest of Australia? Who's that? A couple of million Greeks in Melbourne? If it wasn't for government fandangling, places like Adelaide wouldn't exist.

The MAN knows his Aussie current affairs ... recent history!

Glad at least TWO of us do!! :D

brad9798
01-07-2010, 11:45 PM
In fact, Greeks ... true Greeks are kind of curious to me ... was there in September of 2007 for two weeks ... strange birds they are ... especially the older males ...

Those worry stones ... :confused:

Their belief in God ... but (just in case), their continued belief in Zeus, et al! Just to make sure they are covered!!!

:D

brad9798
01-07-2010, 11:46 PM
They do seem to have the Muslim thing down pretty well, though ... in Greece, that is!

The Bigfella
01-07-2010, 11:50 PM
We've got it down pretty well here too. I was parked next to the local mosque, oops, prayer room a couple of hours back.

brad9798
01-08-2010, 12:21 AM
Okay ... :D

bobbys
01-08-2010, 12:24 AM
It does if you can still afford them.
:p

Remember all that Cheese Eating Surrender Monkey trashtalk that was being flung around a few years back?
The French remember it too.
;).

We still have Jerry Lewis.

shamus
01-08-2010, 12:27 AM
They like to keep it in the family.:D

If you keep that up I'se have to headsbutt youse.:D

ripley699
01-08-2010, 12:28 AM
What with the impending failure of the economy in Greece, the EU has plenty of other things to worry about.
P.S. I still refuse to buy anything from france...last time I bought Michelin tires was back in 2000 ..never again

Surrender monkeys !!!!!! I hope you keep pruning those trees on the Champ-Elyees You know how the germans hate to march in the full sun !!

PeterSibley
01-08-2010, 12:31 AM
What with the impending failre of the economy n Greece, the EU has plenty of other things to wor about.
P.S. I still refuse to buy anything from france...last time I bought Michelin tires ws back in 2000 ..never again

Surrender monkeys !!!!!! I hope you keep pruning those trees on the Champ-Elyees You know how the germans hate to march in the full sun !!

Wot a funny fellow :rolleyes:.

seanz
01-08-2010, 12:39 AM
.

We still have Jerry Lewis.

Might have counted for something once but Steve Martin as Inspector Clouseau cancelled that out.

:eek: Clouseau....what a fiendishly dificult name to spell....had to Google twice.
:D