The 500-Euro note will be no longer produced from
April 26th onwards. with the production stop the
issue of new 500 Euro notes will also be stopped and
currently circulating ones will be replaced.

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It was a hefty reaction today at the stock echanges worldwide and
even currency exchange markets had a big shock when the Swiss
National Bank declared to drop the Euro floor. From the magic
1.20 CHF line, the Euro noted at lowermost 0.82 CHF.

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And again there are 43 billion Euro for the rescue of Greece so that it doesn’t
have to leave the financial union. While Greece is happy about how the things
finally turned for them, most other countris and their people get upset more
an more. Why is so much money burnt in a country that wastes it so much?

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Interesting to see, how Facebook has performed just four weeks later.
And it seems as if the stock won’t go any further up so far as it’s value is
at 28.75 US$ by now. Thus, the stock noted still below initial value.
Rough time for Mark Zuckerberg and his try to go for $100 billion value!

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Seems as if the Unthinkable gets closer and closer for more and more star
economists. Greece is about to loose the Euro as currency and going back to
the drachm. Seems as if all effort to avoid the expulsion of Greece from the
european currency union has failed.

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The Euro doesn’t have a chance to rest and get back it’s glory. Just now when
the economic crisis has taken down most of the icelandic finance sector, it
seems as if Iceland could need a new currency. But which one? The Euro could
be such one however Iceland seems to head for the canadian dollar…

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So while the financial markets have calmed down since August 2010 when the
swiss national bank has taken action to support the Euro’s stability by putting
the reference exchange value to 1.20 CHF, it seems that new black clouds are
coming ahead to us. The dollar is going to crack the 90Rp.-barrier…

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A rough day for the Euro is coming ahead. Within 10 days the currency will
again face a very rough wind as Italy has announced that it will probably need
400 billion(!) Euro out of the rescue bond. This is more than double the money
Greece has claimed! So what will be the result out of this?

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What to say, the European Union and the Euro have an immense crisis for quite a long
time now. Fights here, financial cuts there, failing agreements there, all in all no unity
at all. Greece, actually the biggest debitor in the European Union seems not to agree to
the planned big payment cuts that Greece should do in order to “survive”.

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Today, Standard&Poors has lowered the Rating for Italy from A+ to A-1 as it thinks,
Italy will also run into big debt problems. While Berlusconi has yet ratified another
54.2 billion Euro savings plan, Standard&poors doubts that Italy will consequently
follow the plan. A high unemployment rate, low invests from other countries…

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So… the Swiss National Bank finally thought, we’d start a new round to fight
the strong Swiss Franc! Today at 10:00 a.m. local time, the SNB set the
minimum reference value EUR-CHF to 1.20 – and is willing to keep that goal
by buying foreign currencies with no limit!

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Well… It’s now September 1st and where the Euro was about
1.19 CHF just two days ago, it is now 1.1375 CHF again! I don’t
get it! Why do currencies undergo such extremely high tolerances?
5 cents within 2 days is quite a lot and where happiness was…

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Today it seems that something has again upset the financial markets. At exactly 14:34
the dollar suddenly crashed below 0.80 swiss francs and took two more steps with approx
0.0010 swiss francs within 5 minutes. I thought, it could have been a temporary bump
and relax in the meantime…

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