04 June 2005

Money, money, money

The Scotsman is terribly worried (here) about the future of the euro:
"EUROPE'S political crisis spread to the euro yesterday after Italy publicly discussed abandoning the single currency and reverting to the lira.
The Italian suggestion, once unthinkable to the European establishment, comes as a poll showed a majority of Germans want to pull out of the euro and revive the Deutschmark.
The threats to the future of the euro have disturbed currency markets already nervous about the growing crisis over the European Constitution."

But then rather invalidates the air of crisis with:
"The euro fell this week to its lowest value against the dollar for eight weeks."

An eight week low! Wow, I bet the Euro Central Bank is shaking in its boots.

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