Weaker Euro May Be Able to ‘Save’ Monetary Union, Roubini Says
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Back when Crude Oil was surging, Trichet et al secretly wanted a stronger EUR to combat inflation. Now the worse of the crisis is over for U.S. but just starting in Europe (much like the Great Depression), a weaker EUR may save the day…
The gradual weakening of the euro toward parity with the dollar over the next year may save the monetary union by helping countries such as Greece, Italy and Spain regain competitiveness, said Nouriel Roubini, the New York University economist who predicted the financial crisis.