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Well, I Never … Readers Respond on the Euro

Friday, 21 Dec 2007 | 8:39 AM ET

There I was, writing a piece about the euro, just because all that puffing and moaning about euro-zone companies and politicians -- about how the strong euro was ruining their lives, killing jobs and driving companies into bankruptcy -- was and is driving me to distraction.

Because we all know that Airbus didn't have problems because of the strong euro, but because they couldn't deliver their super-duper giant A380 on time. And because they had all sorts of technical problems. And because they didn't bother to hedge against the dollar sensibly.

Because we all know that Volkswagen had for years a faulty model strategy and also no half-way conservative hedging (not to mention that the supply the North American market, at least for the lower price models, comes largely from Mexico).
That's what the blog was about. A simple:

STOP whining about the too-high euro!
STOP blaming the euro for failing to implement fiscal and economic reforms!
STOP blaming the euro for lousy corporate strategy and management mistakes!

And:

GET USED to a strong euro, because it is fast developing into global reserve currency number two, after the dollar!

I, for one, didn't detect any euro-phoric flag waving and misguided euro patriotism in any of this at all. Hmpff.

So allow me to be rather surprised by the reaction to this blog, exclusively, so far, from U.S. friends (or so it seems). An odd assortment of "come down from your high horse" and "enjoy the strong euro while it lasts" to "don't ask us to send our sons to die again to bail you out" and "why don't you close the U.S. bases down and send our boys home?" to "Grow a spine!"

Well, just for the record, the euro blog was no song of praise about the euro and slander against the dollar, let alone against the U.S. of A. It wasn't even aimed at you over there on your side of the big pond (except arguably the snide remark about US keyboards still having no € sign.).

It was aimed at our European companies who keep blaming the currency for their own shortcomings!

As to growing a spine, well, we've just grown our own currency. Cut us some slack, eh? Although, be careful what you ask for. Likely you won't like THAT either. :)

To paraphrase a famous American here:

You can please all of the people some of the time, some of the people all of the time, but never all of the people all of the time, eh?

But then, I never promised to please anybody in the first place, did I?

Y'all have yourselves a wonderful, peaceful holiday -- in whatever currency.

Be back next week.

Frohes Fest! Silvia

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