The Euro Vs. the Dollar
This Month the Euro Notes in Circulation is Likely to Exceed the Value of Circulating Dollars
The US's bill's standing as the world's favorite form of cash is being usurped by the five-year-old Euro. The value of the Euro's in circulation this month is likely to exceed the value of circulating Dollar notes according to the calculations of The Financial Times.
The figure highlights the remarkable growth of the Euro since it's launch in January, 2002, three years after the start of Europe's Monetary Union, which in January of 2007 welcomes it's 13th member Slovenia - former Yugoslav Republic.
Head of the European Central Banknotes Directorate Antti Heinomen, told the Financial Times; "After the launch of the Euro, we expected growth to stabalize however the growth has continued over the past 5 years".
News that Euro notes now challenges the Dollar may cheer Eurozone Politicians however this rapid growth may have a down-side. Swift growth in the highest denomination notes e.g, a E500 note, has raised suspicions that they are very popular among criminals. The ECB plays down this factor.
By the end of October 2006 $759 billion of US Dollar notes in circulation was only a mere fraction ahead of the value of the Euro notes. This was calculated and based on the exchange rates at that time. However, since October, the Euro has risen strongly against the Dollar with this month alone the value of the Euro rising more than 610 billion; in excess of $800 billion dollars at the current exchange rates.
There are rumors that England is trying to pull out of the Union and that the inclusion of Romania will devalue the Euro. The workers of Romania are paid approximately 1/8 compared to the rest of the Union, this will undermine the workforce of the other members and their workers.
A recent report on the readiness of Romania to join the European Union and personally concluded that Romania has not even informed its people of the minimal laws required e.g, food-handling regulations set down by the Union. This must surely put a strain on the function of the European Union to operate under the same laws and regulations, and this in turn, may devalue and destabalize the Euro.
Published by f.w.
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12 Comments
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Is it only a few who can see what will happen to the US if this government dont work on this immediately?
Let someone take note.
let someone be responsible.
Let the spending stop.
Is it only a few who can see what will happen to the US if this government dont work on this immediately?
Let someone take note.
let someone be responsible.
Let the spending stop.
well said jerri
You are very well informed journalist Free.
I have read a few of your articles and I am impressed
The situation with the Euro must be taken seriously
and not swept under the carpet in the name of war
Everytime I check the value of my dollar
it is worth less
jeff I think that our government is irresponsible and bush is totally responsible
larry
This is a national disgrace and the Government should act on it immediately
The demise of the US Dollar is totally down to BUSH. The Euro is trouncing ahead and our Government sits on their arse and does nothing other than play wargames
not on anymore
time for the people of the country to say No More
about your article; informative and correct
This government needs a good shake up in order to realize that the fall of the dollar is directly their fault
I agree with Jeff