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Euro crashes to five-year low

Energy uncertainty weakens the European currency.

The euro plummeted to a five-year low against the US dollar during Wednesday’s trading, amid heightened fears of a possible energy crisis and an economic slowdown in Europe.

Euro crash news

As of 11:01am GMT, the euro/dollar exchange rate was down to $1.061 from the previous closing level of $1.0636. Earlier in the day’s trading, the index fell to $1.0586, dropping below $1.06 for the first time since April 2017.

The euro weakened further after Russian energy giant Gazprom cut off gas supplies to Poland and Bulgaria over their refusal to pay in rubles, leading to uncertainty about the bloc’s energy security.

In March, Russian President Vladimir Putin announced that payments for natural gas supplies to the European Union and other countries that had imposed sanctions on Russia, were to be made in the Russian currency. The new payment mechanism has now been implemented, the Kremlin announced on Tuesday.

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Source:RT News

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3 COMMENTS

  1. Quick, someone clamp down on free speech, cancel medical freedom, engineer food shortages and implement a social credit based digital currency before it’s too late ????

    Europe’s “leadership” are a legitimate threat to the human race.

  2. Eurocrats are the problem for europeans. There is a clown parliament which has no powers and the real power lies with the unelected eurocrats who little touch with reality as pointed out by Nigel Farage (when he was fighting for reforming EU and then for Brexit).

    Euro was strengthening a lot vis-a-vis USD in the past. Americans know how to make europeans pay for more arms as well as put them in a Catch 22 situation. Extreme right wing neo-nazis will gain more grounds in Poland and Romania due high inflation. More headaches on the social front for EU too.

  3. JFK

    The problem is not the death of one man; the problem is the life of this organization (UN). It will either grow to meet the challenges of our age, or it will be gone with the wind, without influence, without force, without respect. Were we to let it die, to enfeeble its vigor, to cripple its powers, we would condemn our future.

    For in the development of this organization rests the only true alternative to war and war appeals no longer as a rational alternative. Unconditional war can no longer lead to unconditional victory. It can no longer serve to settle disputes. It can no longer concern the Great Powers alone. For a nuclear disaster, spread by winds and water and fear, could well engulf the great and the small, the rich and the poor, the committed and the uncommitted alike. Mankind must put an end to war or war will put an end to mankind, his speech .

    https://www.americanrhetoric.com/speeches/jfkunitednations.htm

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