Economy expert Fatos Cocoli commented on the recent decline in euro’s value, which equaled the US dollar for the first time in 20 years.

According to Cocoli, the euro will actually continue to drop and that we should be certain about this.

1 – Emigrants’ money which is mainly in euros, is according to the expert one of the reasons why the euro will continue to lose value.

2 – In the past 3-4 months, the US Federal Reserve has brought up the value of the dollar, which has never happened before.

3 – According to him, the situation is also influenced by the war in Ukraine.

Despite this drastic decline, according to Cocoli, the euro has become a widely used currency that is also seen as a highly trustworthy one.

Many experts have called today’s event a signal that the European economy is heading for a deep recession as a result of the war in Ukraine.

Today 1 euro equals 1 dollar. This change will mean that consumers and European companies will have to pay more for services they import and win less for exports sold on international markets.