This 21st annual review of the international role of the euro published by the European Central Bank (ECB) presents an overview of developments in the use of the euro by non-euro area residents. The report covers developments in 2021. During this period, the euro area and other major economies recovered from the coronavirus (COVID-19) pandemic recession. The euro area has experienced one of the steepest recoveries in its history, thanks also to ample fiscal and monetary policy support. Now we face rising global inflation driven by higher energy costs, supply bottlenecks and normalising demand as economies reopen. On ... (full story)
Joined Mar 2008
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Status: PVSRA with Traderathome
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"...euro area has experienced one of the steepest recoveries in its history..." Oh? But not the euro!
Yes, it has in the last week or so been pumped in its' relationship to some few other currencies, but these pumps appear out of steam. Based on volume, maybe SM sell orders that were placed higher (reason for the pumps) are near completion.
In any case, politicians (and Mrs. Legarde is no exception) are not averse to lying in order to keep others happy or to make themselves look good. And, she is sporting a smile now.....probably because there are oh so many adversities ahead, as she clearly states, which are her built-in excuses for continued failure.
And in some cases, there hasn't been much steam at all............