Europe’s finance ministers are panicking: they’ve done everything in their power – or so they believe – to save the Euro, yet the currency is becoming worth less and less. They don’t understand what’s going on, they’ve pumped billions into the Euro and into Europe’s failing economies, yet the European stock markets continue their free fall.
The European Union bailed out Greece, signaled its willingness to bail out other failing states as well if necessary and created a 500-billion emergency fund for the Euro. As Brussels expected, European stock markets recovered immediately after the different rescue plans were announced, and the Euro seemed to recover.
Well, the party lasted exactly one day. After that, the stock markets and the European currency continued their free fall as before. The Euro is now worth a mere 1,236 USD; the lowest point since 2008 when Lehman Brothers filed for bankruptcy.| MORE ›
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