Rate of the European currency continues to fall, the EU is trying to help

Who will save the euro?

In brief: The euro continues to fall, European countries are doing everything in their power, but so far unsuccessfully.

The rate of the single european currency are trying to save. The euro exchange rate over the past few days has collapsed to a record low. “General mobilization” to “reflect the attack on the euro” was announced by the country euro zone. This was explained by French President Nicolas Sarkozy, following a crisis summit of Heads of State and Government of 16 countries of the EU, united by a common currency.

According to the summary statement of the Summit of the euro area, the first time in the history of this community decided to establish a permanent stabilization mechanism which will promptly assist States, communities experiencing budgetary financial problems.

According to the Italian Prime Minister Silvio Berlusconi, European countries are in a critical situation, the community should take “immediate solutions”.

Germany’s Chancellor Angela Merkel said that “all countries in the euro zone, not just Greece, must make an effort to reduce its budget deficit, in order to avoid recurrence of crisis, like the Greek, in other EU countries.

The Heads of State and Government of 16 countries in the euro zone summit in Brussels, announced the convening of an emergency meeting of finance ministers of 27 countries of the European Union on May 9.

Sarkozy promised that the mechanism of response to attack the financial markets to the euro will be launched before the opening of trading on the stock exchanges on May 10.

Anrey Torbinski
2010-05-09 12:41, Currency news.

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