Taking the long way home

The Federal Reserve on Sunday opened a program to ship U.S. dollars to Europe in a move to head off a broader financial crisis on the continent.

Other central banks, including the Bank of Canada, the Bank of England, the European Central Bank and the Swiss National Bank, are also involved in the effort. The Federal Reserve said the Bank of Japan will soon consider a similar program.

The Fed said the action is being taken in “response to the reemergence of strains” in financial markets in Europe.

Wouldn’t it be easier for the Europeans to go directly to the Chinese, rather then through a middle man?

Post Views: 0

Related Posts

Another one bites the dust

Headline: Slain Clarion University student armed, looking for drugs “We’re still mourning the loss of Kristopher Mills,” said Mark Brentley…

Drag racing

GuyK is posting about drag racing. You ought to go check out the pictures. Post Views: 0

Leave a Reply

Your email address will not be published. Required fields are marked *