<s>[INST] The value of Euro is not fully reflected by the terms of European Central Bank. The terms indicate a certain risk premia is always present due to the credit default risk and sovereign risk. When I go outside of Europe, this belief is often tested by the people. (un)Fortunately, this is not what ECB officials claim. ECB officials argue the Euro is mere extension of domestic currency and should be treated by investors as a ‘safe-haven’ asset.[/INST]