Dollar versus Euro: an inside look
Yesterday, Germany’s Der Spiegel (SPIEGEL ONLINE International) ran a fascinating piece about the hows and whys, and what’s yet to come in the ongoing, lopsided relationship between the dollar and the euro.
Writing about the Federal Reserve in the U.S. and the European Central Bank, Christian Reiermann offers a snapshot comparison of the two men in charge of them, and a history of how the contrasting philosophies of the two institutions came to be (“KEEP CALM AND DON’T PANIC” April 29,2008).
The article’s intro:
Never before have the central banks of the United States and Europe pursued such divergent strategies when it comes to dealing with a financial crisis. The increased value of the euro against the dollar reveals which strategy is working.
Reiermann writes in clear, straightforward prose that illuminates a subject that’s often presented — at least for mere mortals –as if it’s organic chemistry poorly translated from the original Swahili. Grazie!
Read more here.
