Post
Topic
Board Economics
Re: USD & EUR: Something I don't get (exchange rates and crisis)
by
niothor
on 11/08/2013, 12:20:18 UTC
Things changed again. Meanwhile everyone talks about how weak the Euro is. Everyone is like "Greece, Italy, Portugal, Spain, ... The Euro isn't going to be worth anything soon". And now what I don't get about it: The current exchange rate is 1 EUR = 1.337 USD (lol nice value, just looked at the European Central Bank's website, giving out the currency).  That's a huge increase.

Everybody will come with breaking-news when a plane crashes but nobody will give a damn about the 10 or 20 days when thousands of planes are flying without problems.

Same happens here. All the media cares is about the end of the world the end of the euro the end of zooporn.

Recently the guy who "invented" the term Grexit said that this is no longer a threat , for the last 5 month unemployment is Spain is shrinking , when you shop in Greece (personal experience) you get a bill (meaning at long last taxes are collected) and the deficit is going down even more than expected.

I told a lot of people that just because you got unemployed or you got a wage cut or your dog has died it doesn't mean that the whole country is in deep sh**.

This is why the Euro still stands and , although it might anger a lot of people on this forum  IT WON'T FALL THAT EASY.