This paper is written about the ups and downs of Europe currency. The new European common currency promised to be strong money when it burst on the scene last winter, but by mid-summer a number of factors had dragged the euro down to near parity with the U.S. dollar. Despite initial setbacks, the euro has proven to be a catalyst for corporate consolidations within Europe. It has also established itself as one of the world's three major currencies, stimulating the Eurobond market.
