Forex news, Euro rate. In his interview, one of major architects of European currency Frenchman Jacques Delors claimed that from the very beginning Euro had many drawbacks, but the mere idea of common currency is very positive.
86-year old Delors, the President of the European Commission in 1985-1995, paid attention to the fact that European Union monetary policy had not stipulated a common coordination center. As a result, some EU members have fallen into debt.
According to Delors, the crisis, resulting from the debt of some countries, does not mean that the idea of common currency was bad. On the contrary, the idea is hard to bring into life.
Delors supposes modern European politicians have a delayed reaction to Euro crisis. The crisis has currently reached such high level that even Germans can lose their past dignity. The union of German monetary policy and the policy of European Union was very unsuccessful.
What will happen to Euro rate in the nearest future? According to the DFWA Department of , the third wave of dollar weakening has been expected during the previous working week. The first stage of the motion has already finished; the second stage has started, as the week finished with a correction after the publication of unemployment rate. A minor upward motion is expected at the beginning of the current week; it will become correctional to the decline during the second half of the previous week. However, at the end of the week Euro can again drop in relation to dollar.
