The world’s emerging and developing economies, including the BRICS nations (Brazil, Russia, India, China and South Africa), have been dumping their foreign exchange holdings of the euro, diminishing its status as a world reserve currency.
According to the International Monetary Fund’s latest report on foreign exchange reserves, developing nations shed about $46.5 billion in euro holdings in 2012 and have unloaded nearly $89 billion since the second quarter of 2011.
http://www.ibtimes.com/brics-kiss-euro-goodbye-dump-foreign-exchange-reserves-1171703
According to the International Monetary Fund’s latest report on foreign exchange reserves, developing nations shed about $46.5 billion in euro holdings in 2012 and have unloaded nearly $89 billion since the second quarter of 2011.
http://www.ibtimes.com/brics-kiss-euro-goodbye-dump-foreign-exchange-reserves-1171703
CEO Of Italy's Largest Bank Says Haircuts Of Uninsured Depositors "Acceptable", Should Become A Template
http://www.zerohedge.com/news/2013-04-04/ceo-italys-largest-bank-says-haircuts-uninsured-depositors-acceptable-should-become-
http://www.zerohedge.com/news/2013-04-04/ceo-italys-largest-bank-says-haircuts-uninsured-depositors-acceptable-should-become-
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