Fiscal Study

European Central Bank President Jean-Claude Trichet dashed speculation he will cut interest rates soon and signaled he doesn't plan to halt the euro's surge against the dollar, Bloomberg reports:
``The current monetary-policy stance will contribute'' to curbing inflation, Trichet said at a press conference in Frankfurt today after leaving the key rate at a six-year high of 4 percent. He declined to step up his rhetoric on the euro, repeating his mantra that U.S. authorities favor ``a strong dollar.''

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Posted by fiscalstudy at 1:04 PM | Permalink | Comments (0)

Following the inauguration of a new president in South Korea, Russia had its own presidential elections on March 2, with Dmitry Medvedev anointed as Vladimir Putin's successor, Asia Times writes:

In North Korea, it has been reported, the grooming of a new leader is already underway. Nevertheless, the dynamics of relations between Russia and the two Koreas will depend not so much on personalities but on the joint efforts of the sides.
Relations between Russia and Korea in the 20th century were saturated with hopes, victories and disappointments. The Russo-Japanese War (1904-1905) flared up precisely because of control over Korea and ended - for Russia - with the loss of South Sakhalin and ultimately the headache of the (First) Russian Revolution. The revenge of August 1945 and the joint Soviet-American occupation of Korea incurred many political problems.

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Posted by fiscalstudy at 10:45 AM | Permalink | Comments (0)