Thursday 20 May 2010

Euro under renewed attack ahead of EU crisis talks

The Times
"Shocked European ministers are preparing for emergency talks to shore up the euro after markets fell in reaction to panic measures in Germany.Angela Merkel stunned EU capitals by warning that the euro was in danger and triggered fears of a fresh financial meltdown by announcing a ban on risky trading practices by speculators. The German Chancellor’s actions opened up new cracks in the single currency, drawing sharp criticism from France and prompting Brussels to issue an appeal for unity.The euro plummeted to a new low against the dollar yesterday before making a slight recovery."

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