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The euro (EUR): special focus


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Euromoney's latest coverage of the single currency.

The Grim Reaper's scythe has loomed over the euro ever since its inception.  Here is a comprehensive list of Euromoney's latest coverage on the survival of the single currency, plus choice pickings from the past two decades.

How the banking union fell into an Italian abyss
May 2018

Despite the latest attempts to stymie them, Eurosceptic populists remain the most powerful political force in Italy – largely thanks to anger at a banking crisis, often fanned by the ECB. Now their approach to power is killing the last chance of fixing the banking union, and possibly the euro.

Risk experts take flight over Italy’s political shock
May 2018
The new government is imminent and is expected to announce policies that will cause financial markets to turn their attentions from the recovering economy to unorthodox populism.

Croatia pins hopes on World Bank partial guarantee
September 2017
Sovereign targets credit uplift for euro admission; Lazard advises on SOE restructuring.

Inside investment: Learning to love the euro

May 2017
euros clock-600
Eurozone stress has been felt most acutely in the so-called periphery, but investors should look at the core of the European Union.

FX: Stronger euro prompts investors to reconsider hedging
April 2017
This year has been a good one for the eurozone economy, with business confidence, credit growth and economic activity set to hit a six-year high in the first quarter.

Against the tide: The return of the euro?
February 2017
euro dollar rolls-600
The dollar’s multi-year bull run might last a couple more months, but its fundamental underpinnings are weakening.

EU referendum: UK banks brace for Brexit risk
June 2016 
Existential threat to euro wholesale industry; fears for loss of single-market passport.

What does emerging Europe get out of banking union?
June 2016
In the great debate on banking union, the smaller markets of emerging Europe are often overlooked. Yet, with banking sectors dominated by eurozone groups, they are uniquely vulnerable to changing regulatory regimes.

CSPP: The bull in the corporate china shop
June 2016
News of the ECB’s corporate-sector purchasing programme shocked the market in March and has already prompted a stampede for paper among desperate investors before the central bank has purchased a single bond. Bankers and investors are already complaining that the programme will not have its desired effect.

May 2016 
With the spectre of a 'Leave' vote predominating in the UK EU referendum hanging heavily over FX markets, corporates are likely to further increase their use of forwards as a hedging option.

FX volatility wreaks havoc on UK corporate treasurers
January 2016
The world’s two major currencies – the US dollar and the euro – are making strong gains against the British pound; "the euro is benefiting from anti-risk sentiment."

The curious case of risk and the euro
Euro dollar-R-600

November 2015
The euro has emerged as a funding currency, and traditional euro/dollar safe-haven dynamics have broken down.

February 2015
How did the relationship of the Swiss franc and the euro turn out to be purely platonic? Conscious uncoupling was perhaps inevitable.

Swiss franc: special focus
January 2015
The Swiss National Bank has been under sustained fire in its attempt to defend its euro peg in recent years. Accordingly, the shift in the long-defended policy regime has shocked markets and will have far-reaching implications for the euro, eastern Europe and private banking, among other things. Euromoney investigates.

Euro weakness seen as foreign investors hedge
October 2014
European bond and equity markets have been happy hunting grounds for foreign investors of late, and demand for European assets has helped support the euro, despite economic headwinds. However, bankers now report a shift to increased hedging of European exposures, leaving the region’s currency relatively unprotected against interest-rate differentials.

Euro carry trade the new 'Bernanke put'
September 2014
As the Fed prepares for rate hikes, the hope is that the ECB stands ready to take over its mantle as chief global liquidity provider, raising the spectre of the euro becoming a more attractive funding currency for carry strategies.

Against the tide: QE this year is inevitable
July 2014
ECB president Mario Draghi has resisted using his quantitative easing bazooka up to now. However, with inflation expectations already moving lower, he will have to fire it before the year is out.

Against the tide: Time for ECB action
June 2014
What is needed is a persistently weaker euro. To get to that, the ECB needs either to embark on a comprehensive QE programme or intervene in the foreign exchange market. 

ECB salvation for European exporters seen unlikely
May 2014
With ECB policymakers meeting in Frankfurt next week, European exporters will watch with bated breath amid expectations the central bank will take action that helps weaken the euro. However, those anticipating fireworks might be disappointed, analysts say.

Against the tide: Europe deflates; time for QE
May 2014
The ECB view that eurozone disinflation is slowly reversing is unconvincing. QE might be the only strategy left, although it is not risk free.

Šimonyte: Lithuanian central bank eyes euro ambition
March 2014
Bank of Lithuania deputy chief Ingrida Šimonyte discusses the country’s euro-adoption plans, the challenges for the foreign-owned banking system, and the asset quality review in a wide-ranging interview.

ECB surprises markets with ‘do nothing’ strategy
March 2014
Enduring strength in the euro might derail any nascent recovery.

Turning Japanese: euro strength might be hard to bear
October 2013

Investors might fear that official action will be taken aimed at supressing euro strength, but the region is likely to have to put up with a strong currency.

Euro outlook remains challenging even as break-up fears recede
October 2013
After another annus horribilis for Europe in 2012, there has been a gradual but steady improvement in market sentiment this year. Although the growth outlook still looks weak, there has at least been some respite from the relentless worry about debt default and euro break-up.

Debt crisis dents euro’s reserve credentials
September 2013
The international role of the euro has shrunk to the lowest level since the creation of the single currency, according to the Bank for International Settlements (BIS).

Miroslav Singer: Gunning for intervention
September 2013
Famed for his tough approach to regulation, Czech central bank head Miroslav Singer now has his sights set on currency market intervention to reflate the country’s flagging economy. He talks to Euromoney about the limitations of fiscal policy, the prospects for Czech adoption of the euro, and the dangers of regulatory integration.

Proactive central bankers to keep euro and sterling in check
July 2013
Rarely have two decisions to leave interest rates on hold had such an impact on the currency market, but the Bank of England (BoE) and the European Central Bank (ECB) managed to put heavy pressure on the pound and the euro after their policy meetings on Thursday.

Renewed debt fears to put euro resilience to the test
June 2013
The euro has remained resilient amid the turmoil that has engulfed the financial markets in recent weeks, but its fortunes might be starting to turn.

Shrinking ECB balance sheet no shield against euro weakness
May 2013
For some, the growing divergence between the size of the Federal Reserve’s balance sheet and that of the European Central Bank (ECB) is a reason to be bullish on EURUSD, but that relationship might be in the process of breaking down.

Euro stumbles as Draghi eyes ECB deposit rate cut
May 2013

Single minded: emerging Europe and the euro
May 2013

German data give impetus to ECB rate cut – but beware simply selling euro
April 2013

Q&A: Rimantas Sadzius, Lithuanian finance minister
April 2013

Oil price slide spells danger for euro
April 2013

Europe ponders options for fiscal integration
April 2013

Reserve managers abandon the euro; intervention recycling equation altered
April 2013

Cyprus penny has not yet dropped for the euro
April 2013

Latvia’s Vilks defends euro decision
March 2013

Q&A: Andris Vilks, Latvian finance minister
March 2013

Europhoria takes single currency to new heights
February 2013

Further euro strength could prompt ECB rate cut
February 2013

Death of the euro as a reserve currency exaggerated
January 2013

Merk: the euro might be the ‘rock star’ of 2013
January 2013

Euro faces headwinds in 2013; renewed banking tensions threaten single currency
January 2013

Foreign exchange: Toxic macro/monetary mix spells danger for euro
January 2013

The battle for the eurozone's soul: a reading list
January 2013

Special focus: Eurozone fragmentation
December 2012

The problem with the euro: it’s working too well
November 2012

Credit default swap ban leaves EUR vulnerable
October 2012

Is ECB president Mario Draghi playing with fire?
July 2012

Special focus: Grexit
May 2012

Against the tide: Europe is not out of the woods
April 2012

Cash management: Firms prepare for euro break-up
March 2012

Catch-22 – death knell of the euro?
January 2012

Greece might exit the euro afterall...
January 2012

Markets Outlook: Why doomsday prophecies for 2012 are wrong
December 2011

Euro break-up is plausible and eurozone downgrades could push EU into a recession
December 2011

Against the tide: Euro’s end game
December 2011

Eurozone withdrawal slim
October 2011

Sovereign debt crisis: Cost to Germany of leaving the euro
October 2011

UBS counts the cost to Germany of leaving the euro
September 2011

Euro: Europe loses the benefits of the single currency
August 2011

Book review: The euro, alive but not kicking
August 2011

What went wrong with the euro: Lessons for Africa
July 2011

Euro exit: the final card in Greece's hand
June 2011

Against the tide: It’s a twin-track Europe
August 2010

Breaking up the euro
April 2010

Against the tide: Reports of the euro’s death are greatly exaggerated
March 2009

Euro adoption: Crunch makes euro attractive
December 2008

Does east follow west to the euro?
September 2006

On the road to euroland
October 2005

Here comes the euro
January 2005

Euro's recovery waits for green light from Dublin
July 2002

Euro awaits single financial market
December 2001

Europe, the euro and sterling
July 2001

Which way for the euro now?
October 2000

Pushing the euro uphill?
October 2000

Death in the eurozone
August 2000

Embracing change
August 1998

The capped crusader
July 1998

Which way for the euro?
June 1998

Europe sleepwalks into dangerous territory
April 1998

SS Euro – sinking the unsinkable
April 1998

If not Emu, then what?
August 1997

How to fix conversion rates
August 1997

Emu on track
August 1997