ROGOFF: It's Strange That The Euro Has Been Rallying

Kenneth Rogoff

Photo: Institute For NEw Economic Thinking

In a wide ranging interview with Tom Keene and Sarah Eisen Harvard Economics Professor Ken Rogoff made an interesting observation about Mario Draghi’s comments yesterday.From the interview: 

“It’s kind of curious, if your talking about the value of the Euro, isn’t it interesting that the head of the ECB comes in and says ‘I’m going to do whatever it takes’. I have to say, in any other country when the central banker comes in and says that, the currency is going down, you think they’re loosening monetary policy. But here people are so nervous about whether there’s going to be a Euro that it actually goes up.”

That comes in the context of his claim that the Eurozone is nowhere near out of the woods, and that it is unlikely that they’ll be able to keep Greece in the common currency. 

The full discussion: 

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