I just read that the EU will start defending the euro starting May 10. I'm wondering why they took so long to decide this? Also, what are the pros and cons of defending a currency they way they will defend the euro? If they start buying euros on the open market, what are the repercussions of this? Obviously this will create a short squeeze, but beyond that, what will it do? I'm trying to figure out what this all means, but just simple googling doesn't reveal any results on what the potential side effects of currency intervention is. If there weren't any side effects, countries would be doing this all the time.