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May 17, 2008 12:53:00 AM CDT

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Euro About to Mark 10 Years  

Posted May 1, 08 6:02 PM CDT in Business,  World    Editor's Choice

(newser) – Like many 10-year-olds, the euro has had its ups and downs, but its current ascendancy is worrying, and not just to fans of the weakening dollar; some European states are chafing at the strength of their common currency, the New York Times reports. The German economic engine is causing high prices and ballooning debt in countries such as Greece, Italy, Spain, and Portugal.

These concerns are not new; some founders of the euro even doubted its future, fearing that countries with weaker economies, such as Italy, could not accommodate a union with dynamos such as Germany. But Europe came together for the sake of a political union; then the German economy faltered, and low interest rates were the norm. Now the tide has turned.

Source New York Times

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Euro About to Mark 10 Years
An employee changes euros and dollars in downtown Milan, Italy, in this July 5, 2005 file photo.   (AP Photo/Luca Bruno, File)
Euro About to Mark 10 Years
The Euro sculpture is seen in front of the European Central Bank building in Frankfurt, Germany.   (AP Photo/Bernd Kammerer, File)
Euro About to Mark 10 Years
Two euro coins.   (AP Photo/Bob Edme)
Euro About to Mark 10 Years
A woman walks past a foreign exchange rate information panel in central Milan, Italy.   (AP Photo/Luca Bruno)
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Germany  • European Union  • Italy  • inflation  • Europe  • economy  • euro  • currency


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