How high can the euro go?
Published:
24 May 2003 y., Saturday
That is the question being asked as the single European currency continued to gain against the US dollar and this week pushed above its launch level for the first time
It is in stark contrast to the euro's early life. Virtually from its birth in 1999 it lost ground against the dollar. By October 2000 it had fallen in value by 30 per cent to just over 82 cents. But then the dollar underwent a sustained slide in value. So, now at 1.18 is the euro too strong?
European Commission spokesman Gerassimos Thomas doesn't think so. He told reporters: "Strengthening of the euro has positive and negative effects. Obviously at first sight it has negative effects on exports, but we have to remember that we depend on the import of specific products." In particular he said the strong euro had compensated for higher than expected oil prices.
But in the long-term vital euro zone exports could suffer.
Šaltinis:
EuroNews
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
According to the data presented by the Ministry of Finance, in end-January central government debt made up LTL26, 310.8 million or 28% of projected GDP for 2010 (LTL 93, 819 million).
more »
As far as countries affected by the economic crisis, China fared extremely well.
more »
The European Commission has authorised today a Slovak scheme with a budget of approximately €3.32 million which aims at supporting farmers in Slovakia who encounter difficulties as a result of the current economic crisis.
more »
Commission sets out a 10-year strategy for reviving the European economy, casting a vision of ‘smart, sustainable, inclusive' growth rooted in greater coordination of national and European policy.
more »
The European Commission has launched today the Europe 2020 Strategy to go out of the crisis and prepare EU economy for the next decade. The Commission identifies three key drivers for growth, to be implemented through concrete actions at EU and national levels.
more »
Launching of the “SCHOOLS’ initiative for innovation and changes” Grant scheme.
more »
EU Member States must not only deliver on their international aid pledges, but also bring in a financial transactions tax and a temporary debt moratorium, to help developing countries to cope with the effects of the global financial and economic crisis, said the Development Committee on Monday.
more »
The EBRD is increasing its commitments to promote sustainable energy projects in Slovakia with a new €90 million funding under the existing Slovakia Sustainable Energy Finance Facility (SLOVSEFF) to ensure continuous implementation of energy efficiency and small renewable energy projects.
more »
According to the unaudited data, in 2009 AB Bank SNORAS earned LTL 8.7 million profit. The bank’s assets grew by 11 per cent up to LTL 6.342 billion during 2009 and were by LTL 647.8 million larger than at the beginning of 2009.
more »
Aviation security measures that go beyond common EU requirements should be paid for by Member States, not by passengers, said Transport Committee MEPs in a vote on Monday that could put Parliament on a collision course with the Council of Ministers.
more »