The Euro, Still Going Strong
Otmar Issing, The New York Sun | September 16, 2008
The Euro is not yet ten years old, but its success to date has been unquestionable. ++ Despite numerous exogenous shocks - ranging from the specter of terrorism to the subprime mortgage meltdown in the US - the Euro is still going strong. ++ Without a single currency, member states of the European Monetary Union would likely be experiencing the capital exploitation and speculation seen in the 1992-1993 exchange rate crisis. ++ The Euro, anchored by smart policies from the European Central Bank, has achieved its purpose.
