EURO PLUNGE: Single currency dives amid fears of Italian economic EXPLOSION

Thursday, December 15, 2016
By Paul Martin

THE EURO has hit its lowest level against the dollar since March 2015, as trust in the ‘dysfunctional’ eurozone tumbles.

Thu, Dec 15, 2016

The single currency has crashed one per cent to $1.0419 and also fallen against the pound, after the US raised interest rates last night.

In comparison to Britain and America, the eurozone’s economic recovery is still struggling to gather any pace.

And a cocktail of risks for the bloc, including Italy’s banking crisis, Greece’s debt deal and, French and German elections next year are creating yet more nerves about the future of the euro, experts warned.

In another desperate bid to boost the economy, the European Central Bank (ECB) revealed earlier this month it would extend its money-printing programme to the end of 2017, after already slashing rates below zero.

In contrast, the Federal Reserve raised US interest rates last night, and pointed towards raising rates as many as three more times in 2017 amid a strengthening economy.

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