The euro's path to junk status

Europe's policymakers and central bankers have for years ignored all the rules that could have made the euro a success. QE is the final straw.

Ending the Swiss franc’s peg to the euro surprised market participants, analysts and commentators alike, including this writer.

Unlike the introduction of the euro peg in 2011, which was flagged beforehand, the end of the measure was prepared in secret.

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