Facing a resurgence of tensions in the eurozone, the European Central Bank (ECB) is again under pressure to take action to support the economy, approaching its monthly monetary policy meeting on Thursday.
The political crisis in Italy and Cyprus bank “will weigh heavily on confidence in the euro area for a while,” said economist Berenberg bank, Christian Schulz. Monday holiday in most European countries, the euro fell as investors playing the caution after the Cypriot and Italian events. Around 7:00, the euro traded at 2 8 dollar against dollar on Friday to 22 hours. However, the room for maneuver of the ECB seem limited.
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