In Chapter 11 Charles Wheelan explains currency change.
Since I am now here in the US the exchange rates affect me a lot. When my
brother was here five years ago the exchange rate was much better for Euro. For
1 Euro you could get 1.4 dollars. Now it is around only 1.1. The cost of me
traveling here therefore is higher by more than 30 percent.
Furthermore, Charles explains the cost of single currency
such as Euro. He explains that by having Euro countries lost their power to
control monetary policy. They simply are going with the flow that might not
reflect their economy. This affects everyone in the Euro zone, because we have
to bear the cost of Greece and other countries, for which the Euro is simply to
expansive.
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