Eurodoom – or perhaps not

While British Eurosceptics are quick to write off the euro as being doomed, those who care to look will see a curious thing. Despite the current crisis the euro has held its own with sterling for the last three years, This graph from Oanda.com shows how there was a great devaluation of sterling in 2008 but since then there has been no real overall change in the exchange rate. Obviously the markets do not see the state of the euro in such dire terms as the British media do. Or perhaps sterling is just as doomed as the euro.