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The Euro Also Rises
In a sign of how weak the dollar has become, the famed Harry's Bar in Venice has instituted a special discount for American tourists.
The owner of the restaurant and bar, Arrigo Cipriani, cites the subprime crisis for slashing prices 20 percent for tourists from the United States (who do make up a substantial part of his business).
But the real culprit for Americans' recent spendthrift habits overseas is the ever-weakening value of the dollar against the euro.
Harry's Bar, famous for being the birthplace of the Bellini and a favorite hangout of Ernest Hemingway, is also known around the world for its molto grande prices.
And sure, a 20-euro bowl of soup seemed steep in those halcyon days when the dollar and euro traded around 1:1, but with the euro now worth around $1.60 - ciao!
Still, if the choice is between discounts and dignity, I'm fairly certain old Ernest would take the latter any day.
Besides the discount does not apply to drinks.
Liz Gunnison
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