Appreciating the euro (TT Sep07 p16-17)

Apart from the grumblings of a few politicians, most European commentators have been remarkably sanguine about the rise to new heights of the euro. But a close look at the situation shows the damage a strong euro does to the global competitiveness of the euro zone economies. A strong euro makes it hard to take advantage of the global boom, and even if it wants to there is little the European Central Bank can do about it.