Over two years ago, on Bloomberg TV with my friend Trish Regan I predicted the euro would not go to par. Analysts have repeatedly said the euro will “go to par” (meaning a EUR/USD cross rate of $1.00 or less). I expect other countries will join in the years ahead, including Scotland, Croatia, and the Czech Republic.Īfter yesterday’s opening round of French elections, the euro is now at $1.0852 - and it has never fallen below $1.0385 on seven dips in the past two years. This brings the total to 19 member countries. Since the European sovereign debt crisis emerged in early 2010, not a single member country has left the euro, and three new member countries (Estonia, Latvia, and Lithuania) have been added. My view is the euro is here to stay, and will grow stronger in the years ahead. I’ve been on the other side of that debate the entire time. economists Paul Krugman, Joe Stiglitz, (Krugman and Stiglitz are both winners of the Nobel Prize), Nouriel Roubini, and others, as well as European public intellectuals such as Anatole Kaletsky, Howard Davies, and many lesser lights. The break-up of the Eurozone (those EU countries that use the euro as their currency), and the collapse of the euro have been predicted repeatedly since 2009 by prominent U.S. The euro is the currency of the largest economy in the world, but it gets little respect.
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