Europe More Dangerous Than Fiscal Cliff, Engle Says

Dec. 6 (Bloomberg) -- Robert Engle, a professor at New York University's Stern School of Business and winner of the 2003 Nobel Prize in economics, talks about financial market volatility and the so-called U.S. fiscal cliff. He speaks with Mark Crumpton on Bloomberg Television's "Bottom Line." (Source: Bloomberg)

New Dawn for China as Yuan Joins Majors
36:49 - The IMF will add the yuan to its basket of reserve currencies, an international stamp of approval of the strides China has made integrating into a global economic system dominated for decades by the U.S., Europe and Japan. The yuan weakened in offshore trading amid speculation China’s central bank will rein in intervention. PBOC Deputy Governor Yi Gang said at a briefing the long-term goal is for very few interventions, adding that bigger two-way fluctuations are normal.
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