Euro Suffers More Falls

The value of the Euro is suffering, and it seems as if there may be a need for some togetherness from finance minister and leaders in the Zone.

The value of the Euro is suffering, and it seems as if there may be a need for some togetherness from finance minister and leaders in the Zone. Later today, it is expected that the European Central Bank will cut interest rates. So far, since October 2008, they have cut them to 2 per cent. The news has had a negative effect on the region's currency, which as already fallen by 2.1 per cent this week.

While some European ministers are calling for swift and drastic action in order to stave off such measures as intervention by the IMF, others - such as Germany's chancellor Merkel - seem to see no reason to worry. Merkel yesterday said the region remained 'strong'.

It does seem high time for the ECB to take some action in order to spur some growth for the Eurozone and for the foreign exchange market to regain some confidence in the currency. It desperately needs a boost after weeks of weakness against the dollar and the yen.