The single currency continues to fall unreservedly in the end of a trend, look in perspective, it is strange that you had to wait for the Greek crisis to be done. Artificial was that for every euro we had a dollar and a half. There were some parallels with that compulsorily parity for the dollar and the Argentine peso , crazy situation that I closed my eyes to reality and ended in the terrible crisis in Argentina early in the century, with that tremebundo "corralito" which involved the expropriation of citizens' savings.
The euro has been supported by a series of policy measures that prevented el mercado de divisas reflejara la verdadera situación de las economías detrás de sus monedas: ni Europa ha logrado ser más competitiva que EE. UU. ni el gigante americano se veía tan acogotado por sus problemas. Es EE. UU. quien está sacando la cabeza mejor de la crisis que la UE. En mi humilde opinión, por una cuestión más cultural que macroeconómica. No es que Bernanke lo haya hecho mejor o peor que Trichet (debate algo bizantino en el que se enzarzan muchos liberales, patanegra o no) sino que la ciudadanía estadounidense es más dada a adaptarse a la situación del mercado, a espabilar sin esperar a que Papi-Estado le haga el avioncito con una cuchara repleta de millones... logrados vía impuestos. En Europa are more likely to assume that the problem "we have to fix it." If you also put a good dose of Manichaeism painting a few bad guys to not feel guilty (for example, by having the politicians we have, not worth it to me "we do not deserve them," I think we do deserve them) therefore better, so we have a clear conscience.
The harsh dose of reality that is suffering the Euro project under his rule and those who suffer from a crisis that threatens to take over at least five years, trying minimized course control measures market , which also of probably inefficient, always result in a removal of freedoms operators . The hackneyed figure of evil speculator is useful to carry out such reforms, already approved by Wall Street without which today can be established that have been successful.
The drama of the euro is expected that matched the markets entered it above, but as often happens under socialism, if any equalization, is downward. It was intended that the euro was a German mark strengthened . Now every time it looks more like the weakest of the currencies that made up an impossible Greek drachma devaluing.
The fall of the euro against the dollar due to the flight of wholesale investors, many of which manage investment funds which involved simple savers. What is their interest to lower the euro? They are not anti-European. Some investors may have wagered on their day to lower the euro is the story, not the rule. The speculator who sells today is the investor who has bought yesterday. When buying, pushed up the euro, do so was Europe and now has become Eurosceptic? Did not we see that only defends its legitimate interests without incurring a specific ideological or political affiliation?
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