‘The plummeting dollar and rising euro have even entered popular culture. Rapper Jay-Z has a video in which he cruises New York streets flashing wads of euros.’
I Gimped this photo in early August during President Sarkozy’s visit.
Who could have thought it would prove to be a Hip-Hop omen?
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French President Nicolas Sarkozy jogs along Lake Winnipesaukee in Wolfeboro, New Hampshire. US newspapers on Sunday avoided editorial comment on a meeting between Presidents George W. Bush of the United States and Sarkozy, limiting themselves to publishing correspondent reports from Kennebunkport, Maine.(AFP/Nicholas Kamm)
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You can accuse Jr.’s administration of many mistakes,
but his policies certainly have promoted tourism.
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New York Merchants Embrace Euro
As Dollar Dips, Shops Begin to Accept Currency of Foreign Tourists
By Robin Shulman
Washington Post Staff Writer
Monday, February 25, 2008; Page A03
NEW YORK — “Euros Only” reads a handmade sign in Billy’s Antiques & Props on East Houston Street in Manhattan. But that’s really just an attention grabber. Actually, owner Billy Leroy explains, the store will accept Canadian dollars and British pounds, and U.S. dollars, too.
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With the dollar near its lowest rate ever against the euro and the numbers of international tourists in New York at all-time highs, some store owners figure accepting the euro offers a convenience to customers and sometimes generates a stockpile of a strong currency for themselves.
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The precipitous fall of the dollar — currently one euro is worth nearly $1.50 — has already changed the city.
Last year, the weak currency helped draw 8.5 million foreign visitors to New York, more than ever before, said George Fertitta, chief executive of NYC & Co., the city’s tourism operation, and what they have been buying is as varied as lingerie and condominiums. Tourists generated $28 billion in spending last year and supported more than 350,000 jobs, and Europeans represent the largest group of foreign visitors, he said.
‘The plummeting dollar and rising euro have even entered popular culture. Rapper Jay-Z has a video in which he cruises New York streets flashing wads of euros.’
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