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By MoneySense Staff on May 11, 2010
Estimated reading time: 1 minute

Investment experts still unsure about euro

By MoneySense Staff on May 11, 2010
Estimated reading time: 1 minute

European economy is stabilized for now, but problems remain.

This article is 15 years old. Some details may be outdated.

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The day after the European Union announced a $1 trillion package to rescue the embattled euro, money managers and investment experts the world over are still skeptical about the currency’s prospects. The euro rallied yesterday after the rescue package was announced, but dropped off again by day’s end. The consensus seems to be that the bailout is probably sufficient to keep the Greek debt crisis from spreading to other debt-burdened countries, including Portugal and Spain, but it doesn’t go nearly far enough to address Europe’s underlying economic problems. There is a hint of a silver lining here: a weak euro should boost tourism in the Mediterranean countries where economies are the weakest.

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