European countries’ rulers planns devalued Euro
Austerity measures announced in the euro area countries have scared off investors, who question the ability of these economies to grow.
In this context, the euro was quoted at the lowest level recorded in last 14 months on international markets unlike the U.S. dollar.
Yesterday,on the New York market, the rate was $ 1.2535 per euro. This morning in London it had fallen to the $ 1.2514 per euro.
A lower quote was recorded on May 5, 2009, when the euro was quoted at $ 1.2502 euros.
However, austerity measures imposed by governments of countries that have adopted the euro, fail to restore investor confidence. On the contrary, they believe that a drastic reduction of public expenses will prevent economies from growing.
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Posted by AnnabelleLionon May 15 2010 Filed under Economy. You can follow any responses to this entry through the . You can leave a response or trackback to this entry
