Tags: Euro | dollar | currency | stocks

Euro Sinks to 22-Month Low on Fears About Europe

Wednesday, 23 May 2012 11:18 AM

 

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The euro plunged to its lowest level in nearly two years as investors fretted that European leaders won't be able to prevent Greece from making a messy exit from the region's shared currency.

The euro fell as low as $1.2562, the lowest since July 7, 2010. It was worth $1.2720 late Tuesday. The euro has come down sharply against the dollar since last August, when it was worth $1.45.

European leaders were meeting Wednesday to find a way to keep Europe's debt crisis from spiraling out of control. They haven't announced any concrete plans.

The likelihood of Greece leaving the euro has been growing since early May, when parties opposed to the terms of the country's financial rescue won at the polls. New elections are planned for next month.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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