On this 14th anniversary of the Euro, Lori Ann LaRocco posts an excerpt from Dynasties of the Sea in which Philippe Louis-Dreyfus shares his thoughts on the currency.
Fourteen years ago today the Euro was “born” and boy has the currency seen it’s share of highs and lows. During this time it has grown 11 percent but it is way off its 2008 highs. So what does the future bring for this currency? It all depends on the resolution of the sovereign debt crisis and even with German Finance Minister Wolfgang Schaeuble said last week he thought the worst had passed, businessmen still keep a watchful eye on the zone’s financial progress.
The struggles of southern Europe have played a wicked role in the psychology of the markets with the ping pong volley of various austerity measures over the last couple of years. The future of the currency has been debated as the nations in the euro-zone all have different fiscal policies. The argument: if they are a fiscal union- why is there no unity amongst the 17…
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