Should we fear a collapse of the euro to its historic low of 0.83 dollars in October 2000?
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DECRYPTION – The current weakness of the single currency recalls the first three years of its launch, which were particularly difficult. If the worst is not always certain, it is better to think about it to avoid it…
For the second time this summer, the euro suffered a spectacular cold snap this week, returning below parity with the dollar (one euro being worth 0.9927 dollars on August 23 according to the official reference rate of the European Central Bank). Over one year, the European currency therefore posted a fall of 16.4% against the greenback. The consequence is a mechanical increase in the price of fuel and gas, the international prices of fossil fuels being denominated in the American currency.
“The euro at its lowest since it came into circulation in 2002 against the dollar”, headlines Agence France Presse (AFP), taken up by all of the French, national and regional press, not to mention social networks. But this formulation is misleading and unfortunate …
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