Central banks count the cost of weak dollar

[kuozzman]

FRANKFURT (AFP) - The weak dollar appears to be tearing holes in the annual accounts of central banks both in Europe and elsewhere around the world, with many banks considering reducing their official holdings in the US greenback.

The German business daily Handelsblatt reported that the European Central Bank, which booked a 2003 loss of 477 million euros (625 million dollars), saw its net loss widen to at least one billion euros last year as a result of the weak dollar.

[Mountainman]

1. I think that outside influences like this will dictate what direction we

go for the next four years.

The public seems to think we live in isolation from what Europe does but our lenders control more of our economy than they know about.

[cornermouse]

2. Yeah.

But this is just going to make the neos even angrier at the world.

[NYC]

3. Their loss doubled.

Not something easily overlooked.

...loss of 477 million euros (625 million dollars), saw its net loss widen to at least one billion euros...