Pumped Up and Proud of It

max ellis for time

As the euro has soared against the dollar over the past three years — it's up more than 40% since 2002 — European leaders have been trafficking in gloom and doom. Politicians gripe about the damage to their national economies. France's new Finance Minister, Hervé Gaymard, last month called the dollar's decline "very worrying" and said Washington needed to fix the problem. And German trade groups sound more like self-help gurus when they talk — as they frequently do — about the currency crossing "a pain threshold." But despite all the whining, the strong euro has been a considerable boon to...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!