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"It is a brutal development. It will be discussed, but issues on exchange rates are to be discussed behind closed doors." Hans Eichel, the German Finance minister expresses his concern over the ever increasing value of the euro. However, the actions of European officials seem to be the mirror opposite of their American counterparts.

We have now had over six years of the euro to assess the effects of a unified currency. The question we are now in a position to ask is – is it working as planned and what would happen if the UK was to join in the party?