Lira Beats Mark as Europe Suffers From Stronger Euro
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Europe’s economy, shrinking under the weight of a three-year debt crisis and rising unemployment, would be better off if its currency behaved more like the Italian lira than the deutsche mark.
At least that’s the view of a growing number of investors and analysts, who say the euro is too strong for Europe’s good. The shared currency trades 5.5 percent above its lifetime average of $1.2102, and is 2.6 percent higher than it should be against the dollar, data on purchasing power compiled by the Organization for Economic Cooperation and Development show.