Locked into a common currency but not a political union, euro zone members have both devolved monetary policy to the European Central Bank (ECB) and given up the control they could have exercised a national currency. Photo: Bloomberg
Neal Kimberley
Opinion

Opinion

Macroscope by Neal Kimberley

Asian investors: be very wary about the euro zone

Germany’s still at the reins, but the overvalued euro is putting other members under growing pressure, with Greece’s wafer-thin economy once again falling under the spotlight

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Locked into a common currency but not a political union, euro zone members have both devolved monetary policy to the European Central Bank (ECB) and given up the control they could have exercised a national currency. Photo: Bloomberg
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