Mario Draghi: the closest thing the Eurozone has to a leader? Who leads the Eurozone? Having “saved” the euro last year, I think that title belongs to Mario Draghi, head of the ECB. This article looks at why that is, and why it’s less than ideal. One of the things for which Henry Kissinger is famous for asking is, “Who do I call, if I want to talk to Europe?” Well, the European Commission may have a President, in the form of José Manuel Barroso, but I doubt that anyone thinks he’s where the power in Europe lies. He’s closer to a glorified bureaucrat. Meanwhile, others might say that Angela Merkel is where power truly lives on the continent. Germany is after all Europe’s biggest … [Read more...] about Mario Draghi: the closest thing the Eurozone has to a leader?
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Euro gains as market awaits Draghi’s silver bullet
Welcome to the Pure FX account of the latest changes in the euro exchange rate. This is intended as a brief guide to movements in the euro this week, to put you in the best position for when you exchange currencies. Changes in the exchange rate: GBPEUR: 1.2765 to 1.2593 (-1.347%) GBPUSD: 1.5687 to 1.5787 (+0.637%) EURUSD: 1.2289 to 1.2508 (+1.782%) What’s affected the rate this week Super-Mario to the rescue? As you can see above, the euro has been the big winner in the past week, gaining ground against both the pound and US dollar. Oddly enough though, this isn’t because of anything that’s happened, so much as hopes regarding what might happen. In short, the market is on … [Read more...] about Euro gains as market awaits Draghi’s silver bullet