Leadership Simplified: Doug Van Dyke

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Is the Euro Done?

The United Kingdom is jubilant that they chose not to enter the Euro sweepstakes. Their ability to somewhat control fluctuations in the Pound has enabled the U.K. to better weather a prickly economic storm. Germany, on the other hand, rues the day they abandoned their beloved Mark in favor of the Euro “experiment.” With Greece in virtual default and Spain and Portugal not far behind, the strong economies of the European Union (think Germany and France) have little choice but to bail out their EU buddies. This will exacerbate the dulling of the Euros luster.


The Euros folly breathes a sigh of relief for the United States. The Euro is, in fact, not going away, however, it places the Dollar at center-stage again with regard to the world’s currency of choice. And with trillions of Dollars being held by foreign benefactors such as China and Saudi Arabia, it reduces the possibility, and the economic strategy of these countries dumping their Dollars in favor of the Euro. While the U.S. does not desire for the Dollar to gain significant value strength (this could impede its ability to drive increases in exports), it does relish the position of being the only game in town.         

Posted by Doug Van Dyke on 2010-03-06 at 07:42 AM
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