Saxo #TradingDebates: Euro still one of strongest currenciesLea Jakobiak
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 "changes will speed up" and the banking union's process will "progress significantly".