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To: Colosis
that the euro is in considerable crisis

The euro has never been as high as today. It broke 1.22 for the first time in history today.

I am not sure that's what one can call being in "considerable crisis". The weak dollar could be.

9 posted on 12/08/2003 6:57:26 AM PST by DanDan
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To: DanDan
Strong euro is bad for exports and the weak dollar could fuel inflation. The euro project is a bit like a joint account with many depositors. There are strict rules and massive fines for abusing this account.

Germany and France for years reprimanded other smaller countries for overspending the allowed 3% of GDP. Now they are massively overspending to try to get their economies back to growth, with no effect. Last week they escaped any reprimand by courting votes from other commissioners. A (pro) euro MEP who just returned from that crisis meeting in Brussels said that the sense of crisis is massive among commissioners and says that this is not at all reflected in the press.

12 posted on 12/08/2003 7:11:15 AM PST by Colosis
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