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Moreover, keeping the pegs was desirable because most private borrowing had been denominated in euros.
Had its debt been denominated in Greek drachmas, its currency would have plunged in value when the Greek crisis unfolded.
There is also a class of conduct, now only vaguely defined, that has been denominated "symbolic conduct," which includes such actions as flag desecration and draft-card burnings.
The order was a tremendous blow to the banks' profits, since 80percentt of outstanding loans in the country had been denominated in dollars.
If these smaller economies were included in the table they would all rank at the bottom, below India.A large chunk of bank lending in the Baltics and other parts of emerging Europe has been denominated in, or indexed to, foreign currency.
In the subsequent era of increasingly liberalized financial markets, the consequences of fiscal crises for national economies, and their investors and creditors, including the IMF, have been even more severe, especially when government debt has been denominated in foreign currency and held by overseas investors, who in turn operate in volatile market conditions.
Similar(36)
It is denominated Heritage Touring.
The bonds are denominated in 14 currencies.
Even if it's denominated in euros.
The debt may even be denominated in dollars or euros.
Its larceny was denominated in a half-dozen currencies.
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