'Then the euro will slide!' Experts warn of prolonged war with Iran [Yahoo! Finance]
ING Group, N.V. (ING)
US:NYSE Investor Relations:
ing.com/investor-relations.htm
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Source: Yahoo! Finance
The higher costs for consumers and energy-intensive industries such as chemicals and steel are also putting pressure on the German economy — which is already under strain due to less-than-ideal economic forecasts. Now the euro, currently valued at around $1.16 — is also suffering. The euro could be hit particularly hard if the scenario of the Iran war lasting significantly longer than the "four weeks" announced by the US president materialises. Economist Daniel Stelter warns that "an already structurally weak euro due to low growth, high debt and political discord would come under further pressure because capital would flow into dollar investments that are considered safe," he told Euronews. The chief economist at ING Bank, Carsten Brzeski, warns that "in such a scenario, the dollar would be the first to rise and the euro would slide further." Daniel Stelter is one of Germany's most influential economists. - Daniel Stelter How dangerously low could the euro fall? A wors
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