II It is nevertheless interesting that it is certainly not doubts about the anti-inflationary resolve of European monetary policymakers that is currently perceived by the public to be the reason for the euro’s weakness. At present, many market players are probably focusing more on the long-term outlook for growth and the expected differences in that respect between the United States and Europe.
Barry Eichengreen, professor of economics at Berkeley, said recently that the explanation for the weakness of the euro lies in a changed perception of the revolution in information technology and its implications for productivity and competitiveness in Europe and the USA. Such assessments ignore two things: •  First, the strong growth in America undoubtedly also has its risks.