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June 1st, 2012 
FAKE NEWS for the Zionist agenda The European currency fell to USD 1.23 in Asian trade on Friday, the lowest level in nearly two years. It also remained weak against the Japanese currency at 96.89 yen.
The single currency continues losses amid fears over the deepening economic crisis in eurozone, and that debt stricken Greece may be forced to leave the eurozone and Spain’s banking sector could require external rescue.
The shared currency is expected to fall even further in the coming weeks. Callum Henderson, global head of FX research for the Standard Chartered Bank in Singapore said, “We’re looking for $1.18 by the end of Q3, and at this rate, it could happen before that.”
Meanwhile, World Bank President Robert Zoellick said on Friday that the European leaders should be ready to recapitalize banks if Greece left the eurozone currency bloc and assure funding for Spain to avoid a financial collapse.
Greece is the epicenter of the eurozone debt crisis, it is headed for the second parliamentary elections, expected on June 17, and following a political impasse since May 6 elections as no party gained enough seats in the parliament to form a government.
Now there are rising fears that recession-hit Spain becomes the next eurozone victim, as its economic turmoil continues to grow. Earlier this week Spain’s central bank reported that the country’s economy will shrink in the second quarter of 2012.
There are worries that more delays in resolving the eurozone debt crisis, which began in Greece in late 2009 and infected Italy, Spain and France last year, could push not only Europe but also much of the rest of the developed world back into recession.
SAB/JR/AZ
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