From the ASSOCIATED PRESS:

The world economy faces a new threat. Instead of a banking collapse or too much debt, fears are growing that countries are using their currencies as an economic weapon.

History suggests that’s never a good thing.

If too many countries try to weaken their currencies for economic gain - sparking a so-called “currency war” - then the fragile global economic recovery could be derailed and the international financial system thrown into chaos.

Financial representatives from the world’s leading 20 industrial and developing nations are gathering in Moscow for a meeting this weekend that looks set to be dominated by these concerns and they will have their work cut out to douse the fires.

Why is everyone suddenly talking about currencies?

- During the financial crisis of the past few years, the value of currencies wasn’t a high priority - governments and central banks around the world co-operated to fix the global economy. But, five years down the line, a full recovery is still a long way off.

Read more HERE

 

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