Yes, it was 10 years ago that the European Union introduced the Euro as a financial currency; paper money and coins followed in 2002.
Many Europeans are still critical of the new currency (some shops even still display prices both on Euro and in the old local currency) but financial experts all agree – the Euro has contributed to increased financial stability for the European Union, more jobs, more competition and decreased inflation.
The current sub-prime crisis is a good example. Without the Euro, a financial crisis of this scale would have greatly devalued weak currencies like the Italian Lire and the …read more

The dollar’s day may well be over, at least as the sole refuge in hard economic times. As discussed in this article in the Financial Times, the dollar has been the currency of choice when times get tough for over fifty years, due in large part to the size of the US market and the strength of the financial sector. Now that financial sector is weak, and the strong Euro is quickly supplanting the dollar for major international transactions (as well as Giselle Bündchen photo shoots).
Now, the Euro has been increasingly served as an alternate currency in international transactions over …read more

The dollar’s weakness has been a very big story this year, and one which I’ve followed with keen interest. On one hand, as a fairly frequent traveller, the high euro has made those trips much more expensive. On the other hand, as an attorney who charges fees in dollars, my fees have become more reasonable over the past year, which I suppose should help my business (at the same time making my home market less attractive). The change over the last year is very evident when you look at this chart from indexmundi.
I’m not much of a pop culture …read more