From the baggage handler at Roissy to the chief economist at BNP Paribas, everyone has their own idea to explain the weakness of the euro.
Some will invoke with common sense the war in Ukraine and the risk of gas and oil shortages which are paralyzing the European Union.
The others will discuss the interest rate discrepancies between the United States and the Old Continent.
Everyone has their explanation, except the 19 governors of the central banks of the member countries of the euro zone and Christine Lagarde, the president of the European Central Bank.
They have all been silent as carp for weeks as the euro sags.
And by their silence, they seem to taunt us, implicitly reminding us of the Chinese adage:
“Those who know do not speak, those who speak do not know”.
But what exactly do they know, our great fundraisers who meet every two or three weeks in Frankfurt?
A doubly horrifying focus
When asked about the course of the euro, we invariably receive this answer:
"The ECB has not...
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