Euro shrugs off woes, up for 3rd straight week

New York

EVEN as a currency crisis rages at its centre and war flares on its borders, the European Experiment is proving that speculation about its downfall has been greatly exaggerated.

The region's 19-member shared currency rose for a third week against the dollar and yen as negotiators moved towards an agreement on Greek debt and a ceasefire was reached in Ukraine. Better-than-forecast economic growth in the euro area and Germany, all supported by an unprecedented stimulus programme from the European Central Bank (ECB), added to optimism that the union would forge ahead.