In a speech delivered Tuesday in Paris, billionaire investor George Soros warned that the world could be on the brink of another devastating financial crisis, as debt crises reemerge in Europe and a strengthening dollar pressures both the US’s emerging- and developed-market rivals.
And Europe, with Italy dragging worries about the possible dissolution of the euro back to the forefront, won’t be far behind. Political pressures like the dissolution of its transatlantic alliance with the US will eventually translate into economic harm. Presently, Europe is facing three pressing problems: The refugee crisis, the austerity policy that has hindered Europe’s economic development, and territorial disintegration – not only Brexit, but the threat that countries like Italy might follow suit
On May 11, 1998, at a formal ceremony, Economy Minister Dominique Strauss-Kahn activated the mint printing press and produced its first euro coin, making France the first of 11 nations participating in the launch of the single currency to strike the money. Taking a bite out of the coin, Strauss-Kahan declared that it’s “the real thing, it’s no copy.”
At the time, the Monnaie de Paris was scheduled to mint 7.6 billion coins, or four times the weight of the Eiffel Tower, and eight different coinage denominations with a value between 0.01 and two euros. The coins maintained one national side and one European side.
Proponents scoffed at the naysayers, declaring that it would stimulate the economy and spur industrial growth that can rival that of the U.S. and Japan…lees verder