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Current State of the Euro

Current state of the Euro

Current State of the Euro

Given the current debt crisis involving the PIIGS countries (Portugal, Ireland, Italy, Greece and Spain), experts are wondering how the value of the Euro hasn'’t dropped precipitously. With Greece on the brink of defaulting on their debt, and Portugal not far behind, the Euro is in a precarious state. But as long as European Union nations put faith in their currency by purchasing Euro Zone bonds, as opposed to U.S. treasuries, the ailing currency may not lose much more steam. However this plays out could determine the fate of the currency, and some are even saying the E.U. itself.

The Dollar

In Q1 of 2002, one Euro was worth about $0.90. In Q1 of 2003, one Euro was worth about $1.00. In Q1 of 2004, one Euro was worth about $1.20. In Q1 of 2005, one Euro was worth about $1.30. In Q1 of 2006, one Euro was worth about $1.20. In Q1 of 2007, one Euro was worth about $1.25. In Q1 of 2008, one Euro was worth about $1.45. In Q1 of 2009, one Euro was worth about $1.25. In Q1 of 2010, one Euro was worth about $1.40.

The Pound

In Q1 of 2002, a Euro was worth about £0.63. In Q1 of 2003, a Euro was worth about £0.70. In Q1 of 2004, a Euro was worth about £0.65. In Q1 of 2005, a Euro was worth about £0.68. In Q1 of 2006, a Euro was worth about £0.70. In Q1 of 2007, a Euro was worth about £0.70. In Q1 of 2008, a Euro was worth about £0.72. In Q1 of 2009, a Euro was worth about £0.87. In Q1 of 2010, a Euro was worth about £0.85.

The Yen

In Q1 of 2002, one Euro was worth about ¥120. In Q1 of 2003, one Euro was worth about ¥125. In Q1 of 2004, one Euro was worth about ¥130. In Q1 of 2005, one Euro was worth about ¥135. In Q1 of 2006, one Euro was worth about ¥140. In Q1 of 2007, one Euro was worth about ¥150. In Q1 of 2008, one Euro was worth about ¥160. In Q1 of 2009, one Euro was worth about ¥130. In Q1 of 2010, one Euro was worth about ¥130.

Outlook for 2010

The Euro went down 7 percent between January 1st and May 1st, 2010. On January 1, 2010, one Euro was worth $1.44. On January 15, 2010, one Euro was worth $1.44. On February 1, 2010, one Euro was worth $1.42. On February 15, 2010, one Euro was worth $1.38. On March 1, 2010, one Euro was worth $1.36. On March 15, 2010, one Euro was worth $1.36. On April 1, 2010, one Euro was worth $1.35. On April 15, 2010, one Euro was worth $1.35. On May 1, 2010, one Euro was worth $1.34.

The Adaptation of the Euro

On December 31, 2001, Germany adopted the Euro. In 2002, many other countries followed suit. On January 28, the Netherlands adopted the Euro. On February 9, Ireland adopted the Euro. On February 17, France adopted the Euro. On February 28, Portugal, Spain, Italy, Greece, Luxembourg, Finland and Belgium adopted the Euro.

On January 14, 2007, Slovenia adopted the Euro. On January 31, 2008, Malta and Cyprus adopted the Euro. On January 1, 2009, Slovakia adopted the Euro.

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