Euro---€, or EUR, is the official currency administered
by the ECB in nineteen of the twenty eight countries within the EU and many thanks to Wikipedia here on January 13, 2015. Other countries
outside the EU also use the euro and there are other countries within the EU
that use it unofficially. Many living in African countries and others around
the globe use currencies that are pegged to the euro (the exchange rates are
anchored and do not float freely). The exchange rate between the US dollar and
the euro is hovering around 1.30 euro per US dollar here in late 2012 and the
first quarter of 2013. Here in the first part of January of 2015 it is hovering
around 1.18 euro per dollar. Resistance from
Germany to monetary
policy is eyed by many to be standing in the way out of this horrible
storm. But the Germans are still spooked by a terrible hyper-inflation
resulting from a method of payment for war reparations, and she is still haunted
by certain economists, clinging to the belief that austerity is the way
out of the storm. However, austerity is backfiring here in 2013 in Europe and
as the European economies look to be faltering, all wait on edge as indicators
in the US are starting to show signs of life.