As fears of a US dollar meltdown have loomed ever larger in recent years, major investors, including central banks, have moved significant portions of their cash reserves into the euro, the currency of the European Union (EU). And while it is true that the euro offers some shelter from the American economic catastrophe, the currency does come with baggage that investors should not ignore.
Introduced as an accounting medium in 1990, the euro became an actual currency in 1992. It is at present issued by 16 of the 27 EU member countries, representing some 329 million people. (more)
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