Euro Fall Due To Panic
(Bloomberg) -- Harvard University Professor Martin Feldstein said the euro’s 4.6 percent decline against the dollar this year has been “panic selling” stemming from the financial crisis in Greece.
“The euro is weakening despite their better trade balance,” Feldstein, an economist, said in a Bloomberg Television interview broadcast today. “This is a kind of an irrational or panic selling where people are just saying, ‘I don’t know what is going on, I am just going to step to the sidelines and not leave money in euros.’” Read the full article
The only good that I can see in this whole disaster (Criminal Ponzi Scheme) is that if the Euro currency falls, especially against the British Pound, it might translate to more tourists coming to Corfu in the summer. The weak Pound has hurt tourist all over Greece and especially on Corfu. We can only wait and see.