The Models who won’t get out of bed for less than EU 10,000

The plunging dollar has hit, even the world of fashion, with top models now demanding to be paid in Euros.

Gisele Bündchen, a 27-year-old Brazilian model, is estimated to have a personal fortune of $150m (£72m) She is the face of numerous brands, but, appears to take a keen interest in financial markets. She is now insisting on negotiating contracts in Euro’s arguing that the dollar is likely to continue to remain weak in the coming year, (2008)

3 Reasons to get that $10,000 photo shoot in Euros rather than dollars.

• US Current Account deficit of 6% of GDP
• Falling US House prices, leading to slower growth and potential recession
• A slowdown in growth is likely to lead to lower interest rates in the US – lower interest rates will reduce hot money flows and further undermine the strength of the dollar.

See also:

• Predictions for US Dollar 2008
  
• Reasons for Fall in US dollar
• New low for the dollar at Independent
• Gisele Bundchen