“For the moment, the crisis has occurred outside the United States, in countries suffering from the surge in the dollar, which has gained over 16% against all currencies since January,” notes The World.
“The rise in the greenback, coupled with the rise in rates and the explosion in energy prices, will suffocate developing countries as well as European ones, as evidenced by the attacks on the British pound or the Hungarian forint.”
“And it will last: Janet Yellen, the Secretary of the Treasury, in charge of US exchange policy, validated the concept of the strong dollar, believing it to be the” logical outcome “of the Fed’s monetary policy is simply preparing to manage a debt crisis. sovereign as it happened forty years ago, with the bankruptcy of Mexico in 1982: “I believe we must be ready to help countries in financial difficulty ‘”, adds Le Monde.
