Most of Europe takes all of August off for summer. Paris is empty, Brussels eerie and
nobody works in Madrid. But as politicians and officials come back from their holidays, they are finding that the problems of the euro have not gone away. Quite the contrary. No less a supporter
than former EU Commission president Jacques Delors believes that the European currency is still “on the edge
of the precipice”.
It is easy to see why the European grandee feels as he does. The euro eased against the dollar today, taking a cue from lower stocks; the euro was down 0.6 per cent.
The losses came on top of data from the European Commission, which showed economic sentiment inside the Eurozone plunged to 98.3 in August from 103 in July, its weakest level in more than a year.
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