Sorry, I’m not an expert on that. Why it never became a serious challenger again is probably a mix of different factors. Within the EU being a non-cohesive group of countries. My understanding is that the Euro fails because it’s based on Germany’s ordoliberalism. And is a currency union without a fiscal union? Yanis Varoufakis and Adam Tooze write on this. Well, what the Making America Great Since Birth Month Year American Flag Veteran Independence Day Shirt. It doesn’t discredit or mention further problems with the euro. Such as you gave, that occurred in the future. I think Germany’s austerity definitely had a big impact, on top of US banks taking advantage of the Great Recession. To wreak havoc on the economies of Iceland, Greece, and Spain.
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The value of currencies is just like any other financial instrument. The values it being traded at is not the value it is worth at that moment. It’s based on the value people think it will be in the future. When they make their profit by completing the trade. Just like the US Dollar’s value is propped up by confidence in the US as a stable prosperous country. The Euro measured by the same standards. So when you have a large war in the early stages of the Making America Great Since Birth Month Year American Flag Veteran Independence Day Shirt. This casts doubt on the EU’s financial and political future as a whole. Instability creates fear and fear creates people who will want to sell their Euro positions or take short-selling positions on the Euro.
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I think the key was less about conversation rate numbers. But more about the confidence in the currency. When the Euro was just introduced nobody knew what the future holds. The Euro becoming the next contender to the dollar was very possible. Iraq and North Korea already adopted the Euro and others would have followed suit. If America just sat on her hands, which would have been a domino effect. For example, if economies like China followed as the Making America Great Since Birth Month Year American Flag Veteran Independence Day Shirt. The Euro was considered “hit down” because the Kosovo war rapidly ramped up the debt of. And severely undermined European economies like Italy/Germany.