Euro Savings Account For International Clients
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Looking For International Euro Banking Account?
Halifax euro savings account is great for everyday saving.
It offers attractive tiered rates so the more you save, the more interest you earn. You can transfer money in and out of your Euro Variable Rate Web Saver account whenever you like with no penalties, and no hidden catches.
>> Click here to apply for Halifax International Euro Account <<
It has been declared by several economics and finance luminaries that the euro could very well be the next main currency reserve, toppling the US dollar from its revered position. No less than former Federal Reserve Chairman Alan Greenspan and Nobel Prize winner Robert Mundell have said that the unified monetary unit of the European Union could pose a serious challenge to the US currency.
The concept of an economic and monetary union for European countries has been in the works since the 1950s. The euro itself was conceived in 1992 through the Maastricht Treaty and was adopted as official currency of 11 countries in 1999. Two years later, the euro entered circulation in the financial systems of Belgium, Germany, Greece, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal, and Finland.
Today, the EU currency is gaining ground as a major international currency after less than a decade of existence. It is involved in about 37 percent of transactions in the foreign exchange markets and is the second most commonly held reserve currency after the US dollar, making up one-fourth of the global reserves. It is believed that the “euro” inherited its strength from the German Deutsche mark, which also occupied a similar position after World War II.
The euro proves to be much greater than its predecessor though as it edges into becoming a major currency in the oil trade. For the longest time, oil has been exclusively traded in US dollars. Although the euro and yen have been gradually gaining access, the oil trade is still primarily dominated by the American currency. Speculations place oil sales in euro at 30 to 40 percent.
One of the technical difficulties involved in establishing a euro-denominated oil trading system is the absence of a standard pricing system or a euro-based oil marker. So far, the three oil markers in the industry namely West Texas Intermediate, Norway Brent, and the UAE Dubai crude are all dollar-denominated.
In 2005, it was reported that Iran was planning to put up an oil bourse that would trade petroleum, petrochemicals, and gas in non-dollar currencies, particularly the euro. This would establish a fourth oil marker that would pave the way for a euro-denominated trading system. Several dates have been set for the opening of the bourse but the launch itself has been postponed repeatedly. Iran has pushed ahead with its currency reserve diversification though and has accepted the euro and the Japanese yen as payments for its oil exports.
As of now, the euro remains strong in the forex market since it started appreciating in 2000. It has not fallen below parity with the dollar since 2002 although this can be credited to the intrinsic depreciation of the US currency. It also helps that the European Central Bank (ECB) is adamant on increasing interest rates to counter inflation.
The relative strength of the euro has caused fears of a decrease in European exports as US goods become cheaper and thus, more attractive. There have been official complaints and calls for the US to do something about the falling the dollar but the ECB itself currently shows no signs of cutting interest rates to offset the euro’s exchange rate.
Meanwhile, the euro nations or Eurozone has increased since 2001. In January 2007, Slovenia joined the Eurozone and on 2008, Malta and Cyprus are set to follow suit. Other East European countries are also aiming to adopt the euro as official currency but are still struggling to meet the standards for membership.
EURO SAVINGS ACCOUNT
Take a look at how Halifax Euro Savings Account gives you extra:
>> Click here for Halifax International Euro Savings Account <<
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I would love to use the Euro, and think that it is about time we stopped being so stubborn and adopted it. It would save so much hassel when traveling around europe and, to be honest, its a good looking currency.
It’s hard to know how to answer this question.
Many people are against the Euro for reasons that have little to do with economic sense, and everything to do with jingoistic pride.
However, many well-educated people are against the Euro for several good reasons:
1: In other countries (for example, Spain), the local currency -> Euro transition was done in a way that immediately devalued everyone’s savings, by pegging the conversion rate at an artificial rate that made sense for the government’s policies, but left everyone able to afford less food each month.
2i: Taking up the Euro isn’t about having easy bank notes - it’s about having interest rate policy set by the European Central Bank rather than the Bank of England. The Eurozone is now a huge place, and one set of interest rates to tweak that will impact all economies positively is hard. What might be good for German industrial output might be awful for Greek farmers - which way should Eurozone interest rates be moved? With a basket of currencies that slide against each other, it was possible for the German government to move rates up and the Greek government down (and let the rates move against the Drachma) if that was what was best for both countries.
2ii: Compared to the rest of "original Europe" (Germany, France, Italy, Spain, Netherlands and the Benelux countries), the UK has an economy far more dominated by commodity pricing, because of the huge North Sea oil revenues. That means that the UK economy has regularly swung in a different direction to the rest of Europe… having one set of interest rates to govern both makes the problem worse.
2iii: As per oil, so likewise for "financial services". An awful lot of the "UK economy" is actually the percentage that the UK stock and commodity markets make on transactions all over the world, that just happen to happen legally in London. Having a little money trickle into the UK when a Zimbabwan farmer sells products to a Thai national working in Dubai because we have a stable platform to cut that kind of deal generates an awful lot of cash for the UK. By comparison, only really Germany has anything similar in scale… another reason why the UK and Eurozone economies swing wildly.
3: In the UK, the press comment about the Euro has been far more about the ECONOMIC impact than in the rest of Europe. When you have, say, a French politician saying "You must vote for the Euro because it means we’ll never go to war with Germany again", you have to ask whether this is REALLY about economic policy, or just about spin. [1]
What it really boils down to is a question of how should interest rates be set… Bear in mind that changing rates affects everyone’s mortgages (or rent, because increased costs get passed on)… and affect employment rates… and prices … and so on. Should this be done on a country-by-country basis, or should it be done to try to manage the continent as a single entity.
The "non-Euro" group believe that there are real advantages, which massively outweigh the benefits of not needing to change cash at Gatwick, to keeping UK control of interest rates.
[As an aside, if Scotland were to go independent, my personal view would be that it should have its own currency that freely floated against the English pound and the Euro... but that would be a question for the Scottish people to decide.]
[1] No two countries which both have more than 20 MacDonalds in each have ever been at open war with each other since they opened. This isn’t particularly because the food is peaceful 
But because countries with economies open to cross-border trading tend to so interconnected that it tends to be more sensible to make peace than grab land.
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What do you think? The Euro is strong. The bible predicts a one one world government. I have heard that the "Anti Christ" will come form Europe. A one world government would require one monetary system, and the Euro is so strong. Our dollar is so weak right now. Is it possible end times are nearer than we think? I am not christian ( reformed ) Does ones religious prefrence determine how one would answer this question?
I think religious preference dictacts wether you see us converting to the Euro as a good thing or a bad thing.
I think a gereral opinion of your statement is how the person answering feels about the government. If they are all for the governement etc- most likely they will say the dollar will come back strong etc etc.. the mentality of "oh our government is great they would never do or let anything harm us"
if you’re more of a skeptic of our government and dont believe they have our best interest in mind- you will probably answer in agreement with your statement that its the governments way of making it ‘ok’ with the citizens to covert to the Euro.
If you were thirty how much money would you expect to have saved ?(if any)
A friend of mine has 4,500 euro in his saving account and has no debts.
Would you call that a decent sum considering his age?
Most people i know despite having good paid jobs seem to spend all their money an have no savings at all.
What’s your situation?
I’m 27 and I have a total of about £5000 (most of it went towards when I bought a house), I live alone with a mortage, moved out 2 years ago.
There is no fixed amount.
I know I missed the boat by not getting rid of my euro’s in the summer, but does anyone think that they euro will ever go up to 1.50. It is now 1.36. Should I get rid of them now? I need to sell them but I am greedy and hoping to get at least 1.50. I have to make a decision within the next week or two. Can anyone help me?
an Irishman from new york says i would agree with the person below me but i would add this just remember that they are adding even more money into all financial markets and to our national debt (us) this means more money in circulation means a form of inflation no matter what…. not until money contracts ie ; (slowdowns reccessions etc) will money supplies actually shrink ie;deflation keep in mind commododties are dropping by at least 30 % so is the currency exchange but keep in mind the g7 met last week in order to pump money into all markets globally so here it goes back to your original question: it depends on which way they throw the market the amount of dollars outstanding will show strength on the euro but if everyone else just did the same thing (g7) its all the same
so hard to predict but use some of these facts to calculate decision
major gains against dollar when we leave iraq
short term it will slide downward,
since the last time the former eu was overall this strong against dollar was in 60’s canada 20 years ago
money pumping =inflation weakening of dollar
more debt kept inside u.s. = strengthening
more debt bought by outside countries = weakening dollar
buying bad debt at discount prices = strengthening
One of the fastest growing auto markets in the world is China and companies concerned with the auto industry have already announced expansion of their operations in the said country. Ford China recently announced that they will be offering new models in the Chinese auto market and will be putting up plants in the country to meet the growing demand for their cars.
Another company which has expressed its interest in expanding its Chinese operation is the German auto parts maker Bosch. One of the leading manufacturers of auto safety components such as antilock braking and fuel-injection systems, starters, alternators, and auto electronics, the company planned to increase their global presence.
At the 2007 Shanghai Auto Show, Rudolf Colm, a member of Boschâ??s board of management, announced their goal in the country. â??As a pioneer in automotive safety technologies with extensive international experience, Bosch will partner with the local automotive industry to support China’s efforts in reducing road accidents by both providing latest technologies and promoting automobile safety technology,â? says Colm.
Bosch will not be the first company to partner with Chinese automotive companies in recent memory. Car manufacturers such as Nissan, Ford, and General Motors have entered into partnership with Chinese automakers. Even the electric car producer ZAP has a Chinese partner which produces the three-wheeled zero particle emission vehicles it sells in the United States.
Bosch has already earmarked a budget of 100 million yuan in the construction of a winter test track in the country. The plan for the test track is that it will be located in Chinaâ??s Inner Mongolia Autonomous Region. Construction of the track will commence this year and the final product is expected to be completed by next year. The track will be composed of an icy test track and a ground test track. The said investment will be used to test the performance of vehicles equipped with Bosch safety features on icy roads.
Tests such as these are important since icy roads are one of the most dangerous terrains for any vehicle. The Bosch-sponsored track will be the biggest of its kind in China upon its completion.
Aside from the test track, Bosch is also planning to allocate an additional 100 million euros for the expansion of their production facilities, research and development, laboratories and other testing facilities. The said facilities are found in Suzhou. The investment being poured by the German company will increase the local capability of Bosch China. Other investments in China for Bosch include a 2 million euro allocation for the recently opened vehicle verification road in Suzhou. The company has also acquired a controlling stake in the Pacifica Group of Australia and Bosch has earmarked a 50 million euro budget for Pacificaâ??s plant in China.
Peter Pang, the president of Bosch (China) Investment Ltd., has this to say about the expansion of the Bosch operation in China: â??Increased automotive safety has been a global concern in the past decades. We will draw from our experiences worldwide to fulfill our commitment to making driving safer in China. Bosch has already put local development and application facilities in place to support the need for auto safety in China.â?
One of Boschâ??s most notable innovations is the anti-lock braking system which complements highly efficient brake components from Active Brakes Direct and with the expansion of their business in China, the company is set to offer more to the auto industry while it partners with other companies. â??We will work closely with local car manufacturers to develop and promote both active and passive safety functions,â? says Pang.
Anthony Fontanelle
http://www.articlesbase.com/automotive-articles/bosch-to-expand-china-operations-138381.html
