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Saxo #TradingDebates: Euro still one of strongest currencies
Commerzbank senior FX strategist, Peter Kinsella, believes the euro is one of the strongest currencies so far this year, in spite of talks about the collapse of the eurozone. But he says European politicians are not dealing with the crisis quick enough, even though they have achieved "quite a lot" over the past few years.
The euro has gained 4.7 percent this year, the best performer of 10 developed-nation currencies. At the same time, the eurozone emerged from a one and a half year-long recession in the second quarter, with growth of 0.3 percent.
Germany, Europe's largest economy, has led the bloc's recovery so far, posting a bumper 0.7 percent growth in the second quarter.
After the German elections, Kinsella thinks that changes will "speed up" and that the banking union process will "progress significantly".
01:16 minutes
Tags: commerzbank, crisis, currencies, ecb, elections, eur, euro, europa, european commission, european economy, eurozone, forex, fx, german economy, germany, germany elections, growth, peter kinsella, politicians, politics, recession, recovery, saxo bank, saxo tv, tradingdebates, tradingfloor.com