Many commentaries have followed the Euro's dramatic depreciation during the first 17 months of its existence. "The Americans' economy" strength is often presented as the explanation for the common currency's fall. In this article we show that it is only indirectly that the "Europeans' economy" relative weakness matters. Political leaders try to influence the Central bank as long as unemployment persists. Such a behavior weakens the central bank's independence and hence, its currency.
AFTALION, F. (2000). Les raisons fondamentales de la faiblesse de l'euro. Les Echos, pp. 77.