The euro returns to its level of creation, a first for 10 years – BBC

The euro returns to its level of creation, a first for 10 years – BBC

The euro came under its first official rating of 4 January 1999 to 1.1747 dollar. A level that had not been reached by the euro (against the dollar) for ten years. These expectations have been reinforced by the decision of the European Court of Justice (ECJ) to validate the securities transactions Program (MTO) for the ECB allowing it to purchase under certain conditions of government bonds in the euro area, under the reservation that it is not directly involved in plans help the countries concerned.

Since May, the euro is falling. In eight months, the European currency has gone from $ 1.39 to $ 1.17, a decrease of over 15%. “The two elements that explain the recent meltdown of the euro are back on the front of the European stage of the sovereign crisis and especially investors’ expectations about the launch of an ECB easing program in order to avoid deflation, says Christopher Dembik, economist at Saxo Bank. The risk of Greece to the European Union could lead to loss of investor confidence in the euro. ”

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