Yet , the euro 's gains over the past seven months is a mixed blessing . Former European Central Bank chief says euro was never going to collapse . In 2012 , critics predicted at least partial collapse of 17-member eurozone . Euro plunged to 25-month deficit against U.S. dollar in July 2012 . Currency collapse fears prevail in run - up to G20 finance ministers meeting this week .
Former European Central Bank chief says euro was never going to collapse . In 2012 , critics predicted at least partial collapse of 17-member eurozone . Euro plunged to 25-month deficit against U.S. dollar in July 2012 . Currency collapse fears prevail in run - up to G20 finance ministers meeting this week .