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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (627663)9/10/2011 3:58:53 PM
From: tejek  Read Replies (1) of 1578700
 
Here......you might learn something.

German Is Nominated for Central Bank Post

Internal divisions at the European Central Bank spilled into the open Friday after Jürgen Stark, the bank’s de facto chief economist, said he would resign his seat on the six-member executive board, which manages bank operations and plays a leading role in setting monetary policy.

In a measure of the acute doubts about Europe’s ability to contain the sovereign debt crisis, Mr. Stark’s resignation was enough to spark stock declines in Europe and the United States. Mr. Stark’s resignation also threatened to further strain European unity and undermine German support for measures to keep Greece from defaulting.

Mr. Stark is an opponent of the E.C.B.’s purchases of bonds from ailing countries to hold down their borrowing costs, and many Germans share his concerns. His resignation “makes the European bailout scheme more unpopular among German voters which lowers the long-term credibility of the bailout policy among investors,” Jörg Krämer, chief economist at Commerzbank, said in a research note Saturday.

http://news.google.com/nwshp?tab=wn&ar=1315684609

I have been sitting on some cash for weeks now waiting for some kind of resolution over this issue.........that's how serious it is. The only stocks I hold are biotechs which are least effected by the economic turmoil in Europe.
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