“As Fitch has cautioned previously, a credible and comprehensive solution to the crisis is politically and technically complex and will take time to put in place and to earn the trust of investors. In the meantime, the crisis has adversely impacted financial stability and growth prospects across the region,” the ratings agency added. “However, the high level of public debt and fiscal financing requirement along with the low rate of potential growth rendered Italy especially vulnerable to such an external shock.”
CurrencyShares Euro Trust (NYSEArca: FXE) was down 0.4% in afternoon trading as the Fitch news put Europe’s debt crisis back into focus after the U.S. jobs report. The ETF tracks the euro’s movements relative to the dollar.
CurrencyShares Euro Trust
