In some ways the Asian currency turmoil and economic recession has taken the heat off politics.
Is the rupee likely to fall further as Asia's currency turmoil continues?
Be that as it may, the currency turmoil will have economic effects.
Openness to the flows of capital, technology, information and trade, which can bring prosperity, but can also demand painful adjustments -- as East Asia's recent currency turmoil attests.
BIS's work counts for least where it should matter most: in emerging-market economies such as those in Asia, where weak financial regulation turned currency turmoil into full-fledged economic crisis.
"Considering that the financial and currency turmoil in Asia has world-wide roots as well as global consequences, shared international responsibility in restoring economic stability in Asia must be recognized, " said the Philippine foreign minister.
Without a deal by Monday night, the tiny Mediterranean island nation of about 1 million would have faced the prospect of bankruptcy, which could force it to abandon the euro currency and spur turmoil in the eurozone of 300 million people.
The turmoil in European currency markets that fall of 1992 was proof for Thatcher that a united Europe was meant to crumble.
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Mr. Hong : In the immediate future, we're likely to see a good deal of currency volatility, given the turmoil in Europe.
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Unexpected movements by the players in the currency war could throw markets into turmoil, having a major affect on interest rates.
The first departure of a country from the currency union could trigger new financial turmoil across Europe, particularly in larger nations under market pressure such as Spain and Italy.
The concern now is that the single currency is coming amid the worst financial turmoil since the 1930s.
In a more recent study they found that countries with insufficient reserves to insure their financial systems suffered bigger currency crashes during last year's turmoil.
The prospect of a widening yield differential has boosted the appeal to the single currency despite the backdrop of simmering sovereign debt turmoil.
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Although the central bank has managed admirably to protect the country against fallout from the financial turmoil in Russia and to maintain a stable currency, there is nothing it can do about the large budget deficit likely next year.
Investors continue to view gold as a substitute currency to preserve purchasing power and as insurance against potential monetary turmoil (e.g. inflation).
Just as the trouble in America's housing market is a drag on the economy, the turmoil in the subprime-mortgage market weighs on the currency.
Britain is calling for urgent action to prevent a Greece-style financial crisis in Malawi, one of the world's poorest countries, where recent political turmoil, a suspension of foreign aid, and an abrupt currency devaluation have conspired to leave the new government with a gaping hole in its budget.
Buffeted by the international financial turmoil, Brazil, having doubled interest rates to bolster its overvalued currency, turned to long-term reforms to cut its budget deficit.
He also warns that if Greece were to quit the euro and return to a national currency, such as the drachma, the move would result in years of turmoil and cost money the nation does not have.
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Starting with the 1998 currency collapse, the nation has endured the bankruptcy of most major corporations, political turmoil, religious uprisings and the exodus of many in the merchant class (and their capital).
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