euro exchange rate forecast

[TLCOhio]

Coming this Sunday in the New York Times Magazine, they have this headline: "Can Europe Be Saved?" with these highlights: "There's something peculiarly apt about the fact that the current European crisis began in Greece. For Europe’s woes have all the aspects of a classical Greek tragedy, in which a man of noble character is undone by the fatal flaw of hubris. Not long ago Europeans could, with considerable justification, say that the current economic crisis was actually demonstrating the advantages of their economic and social model."

 

The author of this in-depth analysis is Paul Krugman, a Times columnist and winner of the 2008 Nobel Memorial Prize in Economic Sciences. His latest book is “The Return of Depression Economics and the Crisis of 2008.” There is much history of the euro, how its planning/roots started in 1950. He notes: "as democracy spread within Europe, so did Europe’s unifying economic institutions. Greece, Spain and Portugal were brought in after the fall of their dictatorships; Eastern Europe after the fall of Communism."

 

A key point for his piece is: "The tragedy of the Euromess is that the creation of the euro was supposed to be the finest moment in a grand and noble undertaking: the generations-long effort to bring peace, democracy and shared prosperity to a once and frequently war-torn continent. But the architects of the euro, caught up in their project’s sweep and romance, chose to ignore the mundane difficulties a shared currency would predictably encounter — to ignore warnings, which were issued right from the beginning, that Europe lacked the institutions needed to make a common currency workable. Instead, they engaged in magical thinking, acting as if the nobility of their mission transcended such concerns."

 

As you prepare and plan for cruises in Italy and/or other parts of Europe, this story gives important background to understand what has been happening in Europe economically and why. We are planning for a mid June 2011 cruise from Barcelona that focuses most on Italy. For Greece, Italy, Spain, Ireland and Portugal, these economic issues are not done and over. There will be more twists and turns affecting the value of the euro, dollar, etc.

 

You can see the full story at:

http://www.nytimes.com/2011/01/16/magazine/16Europe-t.html?_r=1&hp

 

THANKS! Enjoy! Terry in Ohio

 

For lots of interesting details, great visuals, etc., from our July 1-16 Norway Coast/Fjords/Arctic Circle cruise experience from Copenhagen on the Silver Cloud, check out this posting. Don’t be shy and feel free to ask any questions of interest. This posting is now over 29,000 views. Appreciate those who have “tuned in”.

http://www.boards.cruisecritic.com/showthread.php?t=1227923

[cruisinisforme]

I don't believe anyone can give you a definitive answer on that.

 

A few months ago when you could buy €1,00 for $1.20, did anything think that was the right time to buy? Many of the pundits on TV thought the euro would fall to below $1.00. Little did they know that it would rebound to $1.40!

 

It's a crap shoot at best. The best advice would be to dollar cost average your purchase of euros by buy converting a fixed amount of US dollars monthly until your trip.

 

Lew

 

LOL I did!!!!!! I have been to europe twice now and knew it was low so I bought 400 euros for my upcoming trip! I only wish I had prepaid my excursions back then too but we werent ready