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Europe is a currency saint but an egregious demand sinner

Posted on 04 November 2013

This year’s burst of euro strength has brought crisis closer and baked a lot of future damage into the 17-nation bloc. Be careful what you wish for. The euro’s founding fathers dreamed of a superpower currency that could stand toe-to-toe with the dollar, freeing Europe from US monetary hegemony.
France’s Charles de Gaulle liked to grumble that America enjoyed an “exorbitant privilege” as holder of the world’s reserve currency, able to get away with economic murder. Now they have such a trophy themselves, only to discover what Washington learned the hard way: it is an exorbitant burden, and at times a curse………………………………………..Full Article: Source


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