Right now, it’s close to the 1.31 area compared to the dollar. Absolutely ridiculous.
An overvalued Euro is a nightmare for the brick and mortar economy as well as for the online world, I’m sure European domainers and webmasters will agree with me.
During the 2000 – 2002 period, one Euro was worth less than a Dollar and that made sense. After all, the Dollar is the world’s reserve currency and it has been around for a considerably longer period than the Euro.
That’s one of the main reason why the European economy is in shambles: the Euro is ridiculously overvalued and it’s dragging everything else down.
People who think European economies can somehow recover with the Euro at these levels are deluding themselves.
Sorry for the economy-related rant guys but again, I’m sure European domainers/webmasters will understand and agree with me.
June 3rd, 2013 at 12:08 pm
The dollar is a flawed currency too.
Dont delude urself!!!!
June 3rd, 2013 at 1:08 pm
It may be overvalued but about 3 years ago 1 EUR almost reached $1.50.
June 3rd, 2013 at 1:14 pm
The euro has been more powerful than the dollar for 11 years now (peaking at US$ 1.6038 on 18 July 2008).
It is not because the dollar has been around longer that it should automatically be more valuable.
Keep in mind that the Euro was and still is the currency of the current largest economy in the world. The total economy of the European Union generated a GDP of US $16.584 trillion in 2012 according to Eurostat.
In comparison, the US GDP was around $15.684 trillion in 2012 (basically around a trillion less than the european economy).
Source: http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28nominal%29
I agree though, the european economy currently is doing poorly.
That said, as an european domainer, I would love for the dollar to be on the same level again as the Euro as that would mean a higher income for me (since most of my domains are being sold in dollars). But is that going to happen any day soon? I doubt it.
June 3rd, 2013 at 1:31 pm
@FINDCJ and Erica: let’s assume someone contacts 50 economists and asks them two questions.
Question 1) Do you think the Euro will be around 10 years from now?
I for one am pretty sure that at the very least, for every economist who answers yes, there will be one who answers no.
Question 2) Do you think the Dollar will be around 10 years from now?
As I’m sure you’ll agree, probably everyone will answer that yes, the dollar will be around 10, 20 years from now and so on.
I’m not saying the dollar is perfect, not by a long shot.
I’m simply saying that out of all the bad currencies out there (and again, I agree pretty much all of them suck), it’s the best choice by far and the only real safe haven.
@Joe: yep and in my opinion, that’s one of the main reasons why the European economy is in such bad shape now. European countries borrowed money back when the EUR was below parity and then all of a sudden, they had to pay back in overvalued Euros. Not good.