Is the euro the Britney Spears of currencies?

ForexNewsNow | Published on July 6, 2010 at 5:11 pm

NEW YORK (Forex News Now) – Is the embattled euro, whose stellar success we have watched fall apart of late, a mirror image in the world of forex of Britney Spears, the celebrity whose somewhat clean-cut persona also unraveled rather shockingly in recent years.

Just think about it for a second: Both the pop queen-turned-psychiatric patient and the single European currency
burst onto the international scene about a decade ago, to great acclaim.

Britney, with the naughty Catholic schoolgirl antics of …Baby One More Time, and the euro, with its global forex chart-topping debut of a fully functioning monetary union, in the conflict-ridden continent of Europe.

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There were, of course, naysayers from the start: Britain’s many euroskeptics, and the critics who branded Britney’s music “a disturbing mix of childhood innocence and adult sexuality” (harsh words, yes, although not entirely unlike the occasional attack in forex analysis on the European Central Bank’s monetary policy).

But for a long time things went swimmingly for currency and celebrity alike. Britney had Crossroads, and there was talk on forex news outlets of the euro replacing the dollar as the world’s main reserve currency.

And then disaster struck. Rehab and pictures of unfastened children in cars undid the star, as Greece’s cavalier accounting did to the currency – and its fx trader backers.

Since then, Britney has had a comeback. But will the euro?

 

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