The single currency has teetered on the brink of parity versus the greenback for days, finally breaching that level on Wednesday.
For Dhara Ranasinghe's latest contributions to The Japan Times, see below:
Money markets suggest central banks will press on with raising interest rates, even as a war on Europe's eastern flank complicates the picture for inflation and economic growth.
Prospects for increased German spending come as European Union budget rules are under review.
Global indebtedness sits at nearly $300 trillion, with $4.8 trillion added in the second quarter of 2021 alone.