The Euro was probably the most hyped-in currency the world may have ever known.
That fact alone should have been reason for suspicion.
In this article we contrast some of the eulogies heaped on the Euro back in around 2001/2002 when it was introduced as a tangible currency with these past weeks’ near-obituaries.
“The Office for National Statistics said Tuesday that gross domestic product in the three months to Dec. 31  increased 0.1% compared with the third quarter. Compared with a year earlier, GDP fell 3.2%. … For the whole of 2009, the economy contracted 4.8%—its biggest output fall on record.” (Emphasis CrisisMaven) Read more…
Isn’t the crisis over, albeit the recovery may be slow? Hasn’t GDP contraction slowed down, been stopped, maybe reversed? Isn’t all that good news? Couldn’t it have been worse if the Fed hadn’t done the right things?