Sinking Dollar Raining on Cannes Parade

My mother tells me I’m a pessimist and it’s true; if there was a religion for it, you know, always looking on the dark side of life, I’d probably belong to it. Apparently the dollar has sunk so low it is preventing Americans from spending their dough at Cannes, where a 30 Euro bunch of flowers could cost an American around $50.

As a result, the high prices charged by many shops and restaurants during the festival have become more forbidding, even for an industry used to big spending.

“American clients are finding that coming to Europe for the festival costs 30 percent more than last year,” said Pascal Brun, managing director of the Majestic, one of a string of luxury hotels that line the Cannes Croisette.

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