European sovereigns have to finance EUR 150 billion in the first quarter, of which Italy needs EUR 50 billion. Add to that an additional EUR 800 billion needed to recapitalize the banks and you see why the euro is weak...
CNBC: Euro Slide Could Be Preview of a Troubled New Year
The euro's dramatic slide to the year's lows in light trading is a likely prelude to more weakening in the New Year and highlights the long haul ahead for the euro zone's debt crisis.
Full Story:
http://www.cnbc.com/id/45816953
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