Ever since the Greek financial crisis, the euro has been steadily dropping in value against the dollar - down from around 1.50 to 1.20. Financial analysts are petrified, because they see the rate of the currency as an indicator of Europe's economic health.
But, according to senior foreign affairs correspondent Bernard Hammelburg, that is a psychological reaction, rather than an economic one. The simple facts are that the euro is about where it was at its launch, and has remained reasonably stable all through the decade. It was a bit high, it's lower now. Analysts call it "weak", Mr Hammelburg prefers to call it "low".
And that's good news: it's great for European exports. The low euro also attracts more visitors, business people and tourists. And because of the low euro, the largest exporters - China and the US - are having a hard time, which also makes life easier for Europe.
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