Expensive euro is an economic danger

The daily Les Echos sees the rise of the euro over the dollar as a danger for the economy of the Eurozone: "In the days to come the euro will no doubt exceed the mark of 1 dollar and 50 cents. In other words, the dollar will soon be worth just 0.666 euros. 666, the number of an atrocious beast in the Apocalypse, a satanic symbol. ... And what if the european currency were at the gates of hell? For many European businesses ... the 1.50 rate is the dividing threshold between profits and losses, black and red. It has been difficult enough to try to maintain export levels on the collapsed world markets, even for the German champions. With the reevaluation, it will now be even more difficult to do business in countries that deal in one way or another in dollars, and which make up over half of the world's economy. If Europe can't convince its partners to cooperate on currencies and hence on budgetary, monetary and financial policy, it will have to react."

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