The euro fell below par with the dollar this week. This reflects the fear of a Russian gas supply freeze, but also the massive problems in the euro zone. Observers are warning of a renewed escalation of the debt crisis.
The euro zone is facing major economic problems.
The euro has fallen to par once morest the dollar for the first time since the end of 2002 – since the beginning of the year alone, the euro-dollar exchange rate has weakened by around 12 percent. The common European currency has also weakened significantly once morest the Swiss franc. On Friday, only 0.98 francs were paid for one euro. The weakness of the European common currency has several causes.
