The Euro — a Goner

The departure of Jürgen Stark from the German Bundesbank’s board sent the European Single Currency or euro sharply lower. The euro closed down more than three cents against the U. S. dollar and ended the week at $1.3655. This weakness was confirmed accross the board with the euro also down against the British pound, Canadian dollar, Japanese yen, minor Scandinavian and other currencies. Mr Stark had been seen as the last economics hawk on the board of the Bundesbank and his departure indicates that the euro has lost another defender of financial responsibility. News of the German public being fed...