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U.S. vs. Them

Welcome to Day 1 of Hermann the Malevolent’s own personal EuroWatch. On January 1, 1999, the European Union debuted its highly anticipated new currency to the world, with an initial value of roughly $1.18. Optimistic European economists watched with anticipation as the euro promptly…fell flat on its face. Bottoming out at less than $0.84 in July of 2001, the euro has since hit its stride–and then some. In December of 2004, the euro reached a new high against the dollar, with a value of approximately $1.36.

In the post-9/11 global market, the euro has turned itself into a powerful international player. Low inflation, attractive interest rates, and responsible deficit management have significantly increased the appeal of the fledgling currency. If the Europeans can overcome potential stumbling blocks, such as high unemployment in the major European states, there is no end in sight to the burgeoning power of the euro…

March 2, 2005

1 euro equals 1.31335 dollars