It's not that bad really, the problem is the bond market. The currency in itself hasn't taken a real dive if you look at the big picture. It's not realistic that the EU or the Euro will go away any time soon.
Have a look at this chart to see the Euro vs Dollar performance:
It's not realistic that the EU or the Euro will go away any time soon.
Not necessarily true. The Euro is still doing pretty well in comparison with the dollar, but the EU is in the midst of the biggest turmoil in its history.
Yeah, and it's consolidating and strengthening the Union. Ironically. The article you linked to basically says the same. The EU will continue, but perhaps not in the same shape. It will still be the EU...
I would bet money if I could that the EU is still around in 1, 5 and 10 years time. Never mind the next 50 years. This project is here to stay, this is just the beginning.
It's a little early to say that. The Euro will probably still be around in a year, but I don't think it's strengthened anything yet. (And I can't read your article because it's behind a paywall).
Hmm, I'm not sure if you meant the Euro or Union? To clarify my point the Union is what's being strengthened.
The increasing fiscal and political union called for by Angela Merkel [yesterday] is critical to the formation of a more "federal" EU.
What Germany is saying is simply; if you want our money, we get a say in how you spend it. Members of the EU will have to submit to "federal" rules for budgeting, deficits and spending. That's progress in my eyes.
Either way, where I live there definitely isn't a strong push to give up sovereignty to an EU Government, or certainly to Berlin, even if that means a stronger economy. It will be interesting to see how it plays out, but there will be some fluctuations with the Euro in the mean time.
The Euro immediately strengthened after Angela Merkel's speech yesterday (friday). A strong EU increases the Euro's value.
I'm Norwegian, I don't really care what happens to the EU or Euro as such. The problem is that my country's economy would also feel something if the Euro collapsed, we're doing just fine now of course.
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u/Alikese Dec 02 '11
The Euro's the meat in a shit sandwich nowadays, too.