“It ain’t over till the fat lady sings.” – Yogi Berra (accredited)
FX Trading – Dear Mrs. Merkel we’d like to say, “It is calculable!”
Man, if she keeps this up, Mr. Sarkozy is in danger of losing his top spot as the Eurozone leader most prone to bouts of hyperbole.
BERLIN, May 19 (Reutes) – The euro is in danger, German Chancellor Angela Merkel said in a speech to parliament on Wednesday. “Every one of us here can feel that the current crisis of the euro is the greatest challenge that Europe has faced for decades, since the signing of the Treaty of Rome,” she said. “This challenge is existential. And we have to rise to it. “I’ll boil it down to its core: The euro is the foundation for growth and prosperity, along with the common market — also for Germany. The euro is in danger. “If we don’t deal with this danger, then the consequences for us in Europe are
We beg to differ, Mrs. Merkel; the euro is the source of the problem, not the solution. It is not the moniker of “growth and prosperity” as you say. No doubt, it was a good thing for German industrialists, so speaking to your power base, you may be correct. But German taxpayers aren’t very pleased, paying for the sovereign bankruptcies the euro has wrought in its wake.
And if you need some help with the calculations, here are some numbers that were used to form the original monetary dis-union:
These values were from December 31, 1998:
- 13.7603 Austrian Schilling (ATS)
- 40.3399 Belgian Franc (BEF)
- 2.20371 Dutch Guilder (NLG)
- 5.94573 Finnish Markka (FIM)
……read page 2 – 4 HERE