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Eurosceptic Bloggers

Tuesday, November 08, 2005

Shackled Together

I have no view on what value the Euro should be. I don’t get excited because the Euro rises or falls. I am however interested in the reasons for its movements. Take this for example:
“The riots are spreading across France and arson is spilling over into Germany and Belgium, bringing huge adverse effects on the euro,'' said Kato, a vice president of foreign exchange sales in Tokyo at Mizuho Corporate Bank Ltd.
So if you share your currency with a country whose social model condemns most of its immigrants to long term unemployment, then the subsequent riots will have an impact on your economy. Someone remind me why this single currency lark was supposed to be a good idea.

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