The Future Reserve Currency Is the Euro: Strategist

Constance Faivre d’Arcier
CNBC.com
Friday, January 15th, 2010

The euro will become the world’s favorite reserve currency because Europe has a better growth strategy than the US, David Roche, global strategist at Independent Strategy told CNBC.

“We’ll actually produce a much stronger fiscal balance, a much better debt-to-GDP ratio within the eurozone”, Roche said.

The German economy has recorded its fastest post-war contraction, at 5 percent in 2009, with exports falling by 14.7 percent, alongside investment. But this, paradoxically, brings opportunities for private investors, according to Roche.

“It also means the government will have to shrink spending because you can’t increase taxes to balance the budget in Europe, otherwise there won’t be an economy,” Roche said.

Full article here

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