I continue to be in a state of exasperation over the way the British media paint the Euro as a doomed currency, even though it is the world’s largest and therefore most stable. As I have pointed out before it’s future looks far more rosy than that of the pound.
Today’s hyperbole surrounds a slight slip in it’s value following the Irish austerity cuts. This event in itself is hard to explain given that after Britain announced it’s own cuts the pound actually strengthened. However this does not stop financial commentators spouting endless speculation in order to grab a few headlines.
The fact is the Euro is still way, way above it’s value of ten years ago against the dollar, and the pound has still not recovered to it’s pre-VAT-cut 2008 levels. Which leads me to wonder whether the British financial media aren’t taking back-handers from the US Federal Reserve? Stranger things have happened.