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
President of the Republic of Lithuania Dalia Grybauskaitė welcomed the decision taken by the U.S. Government to transport shipments for the international mission in Afghanistan by transit via the Klaipėda Seaport.
more »
EU Solidarity Fund aid to repair storm damage in France and Portugal was approved by the Budgets Committee on Thursday.
more »
The European Investment Bank and the Government of Samoa formally agreed to support the rehabilitation and upgrade of independent water schemes in the Pacific island state under a EUR 250,000 technical assistance programme.
more »
Steps to overhaul the European Union's flagship single market were discussed on Tuesday (9 November) by MEPs and interested parties.
more »
Strategy to secure a sustainable EU energy supply and support economic growth over the next decade.
more »
EU funding to help 850 former workers in the aircraft maintenance industry around Dublin find new jobs was approved by the European Parliament on Thursday.
more »
Saffron farmers in western Afghanistan hope to oust opium as a harvest crop.
more »
The European Commission has approved an application from Poland for assistance from the European Globalisation adjustment Fund (EGF).
more »
New plans for EU industry to create jobs while keeping manufacturing in Europe.
more »
The European Commission has approved two applications from Spain for assistance from the EU Globalisation Adjustment Fund (EGF).
more »