For all you hedge fund traders out there who have bet the euro would fall and have instead spent the past year fearing for your job, you’re not alone in being puzzled by the euro’s buoyancy. And you’ve got some smarty-pants company: Harvard economist Kenneth Rogoff. But according to a Wall St Journal blog in a note today at Project Syndicate, Rogoff writes that he still thinks a euro decline is in the cards.
Rogoff, you may remember, is the Fred to Carmen Reinhart’s Ginger in predicting that the recovery from the 2008 financial crisis would be long and ugly and likely involve sovereign default.
So why is the euro so buoyant? Rogoff lists “six not-so-convincing reasons why it should remain stable or appreciate” and then comes back with his reasoning for the euro to fall….
Find out at http://blogs.wsj.com/marketbeat/2011/11/03/euro-cant-stay-afloat-much-longer-says-ken-rogoff/
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