Euro Slips as Bailout Funds are Cut

The euro dropped today from the highest level in four months after the European Union leaders decreased the startup capital for future bailouts.

The decrease of the startup capital for a future aid fueled worries that the EU won’t be able to resolve its sovereign-debt problems. German Chancellor Angela Merkel expects that it’ll take years for the shared European currency to recover from the “sins of the past”.

EUR/USD fell from 1.4171 to 1.4137 as of 13:36 GMT today after it reached yesterday 1.4219, the highest level since November 5.

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