The Only Way to Save the Euro Is to Weaken It
Except that everybody is trying to be the weakest now. And it is not possible that all are weak at the same time. The currency war continues 
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He may have promised to save the euro.
But European Central Bank President Mario Draghi didn’t promise to make it strong.
And that is just as well as Mr. Draghi will probably have to debase the currency soon if he is to save it.
Both economically and politically, Mr. Draghi will have little choice.
The debt crisis, which appeared to have been subsiding a few weeks ago, has reared its ugly ahead again, posing fresh risks to the region’s banking system.
And economic growth, which many had hoped would start to improve, is once again deteriorating.
In other words, all the measures that Mr. Draghi and the central bank have adopted in the past have not been enough to remove the threat to either the euro-zone’s financial markets or to the single currency itself.
Even the recent bailout negotiated for Cyprus failed to inject any sense of optimism about the debt crisis. On the contrary, the rescue package for one of the region’s smallest countries proved a controversial mix that left many Cypriot bank depositors out of pocket and banks in other debtor countries nervous that they too might face a similar fate as lending countries, such as Germany, become less generous.
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