The euro fell to its lowest point, $1.4505 (.89 p) since early October yesterday, amid concern over Greece’s financial stability and emerging concerns over the economic situations of other euro zone countries, The Wall Street Journal reported last night.
European Central Bank. Photo credit: Irene.
As Greece hastens to reassure its fellow euro zone countries, on Monday, the European Central Bank ordered the nationalization of an Austrian bank, as concerns that Austria’s banking sector may be facing trouble with Eastern European investments. At the same time, Portugal, Ireland, Italy and Spain all also have huge budget deficits and minimal growth prospects, meaning that their debts could also rise quickly, endangering the financial stability of all the countries tied to the euro.
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