Euro ‘Not in Danger’ After Slide, Ex-Bundesbank President Schlesinger Says

Former Bundesbank President Helmut Schlesinger said the euro’s slide hasn’t left it at an unnaturally low level and the breakup of Europe’s 16-nation currency union is out of the question.

“The euro isn’t in danger,” Schlesinger, who ran the German central bank from 1991 to 1993, said in a May 25 telephone interview from his home in suburban Frankfurt. While the pace of the currency’s decline “did give cause for concern,” its level “is by no means catastrophically low,” he said.

...

“Bringing about the end of the euro is something that one cannot plausibly conceive of at the moment,” he said. “It would involve so many complications, with so much potential for setbacks -- including economically -- that one cannot, and in my view must not, contemplate it.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aw1S8VTHZJ34&pos=5

Schlesinger - the German "hardcore hawk" has spoken...

 

In other words, it can go a lot lower. And this is a positive for the EU?

 

Definately, very. I'd vouch all necessary acquisitions have been made with EURUSD 1.40-1.50 levels and now all they need for continued happiness is a low euro to keep that european export machine humming.