BEGGAR THY EURO

Beggar thy currency 

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In some circles it's called beggar-thy-neighbor.

A while back when ECB President Mario Draghi was dragging his feet about his next move to jump start the EU economy, the euro traded at $1.37 and we mentioned it's true value was closer to $1.20 on the beggar-thy-neighbor scale. Well, given a blurb in Business Insider today it appears as if some EU executives agree. 

Here's an excerpt.

Calls For ECB To Act. Executives in Europe are calling on Frankfurt to weaken the Euro. "[Europe] cannot be the only economic zone of the world that doesn’t consider its currency as a weapon . . . as a key asset to promote its economy,” Airbus CEO Fabrice Brégier told the Financial Times in an interview. Brégier says it should be at least 10% lower from its $1.35 level. 

A 10% decline from here would just about make that call correct.