Join Date: Feb 2005
Location: Far end of the P pond
Ferrari Life Posts: 6,738
Current EuroZone Problems and Future ?
Yes, I am aware of the PIGS debt problems, but what on earth is happening over there in Europe ??? The value of Euro has been falling like a brick ! Only few years ago, I recall Euro was at an all time high and it appeared as if Euro was the rising star to become alternative world currency standard. I do not profess to be an expert on Euro system, but as an observer from the outside, it was hard for me to visualize a creation of one EuroZone made up of so many cultures and differences in economic food chain. What is going on is downright scary and I have serious doubts and lack of faith in the current leaders to prevent a catastrophe (meltdown, if you will). Just for reference, I believe against the Yen, the all time high of Euro was something like 169 yen/euro. Today, it was below 112/euro. I think that level is lower than the initial inception of Euro as a currency, way back when. Expert Europeans, shed me some light.