The economic crisis in USA can’t happen without also effecting Germany. As these countries have money tied up in one another, Germany and France are taking eforts to save funds in case Germany as well could have a bank crisis due to bank failure.
Bloomberg: “The euro tumbled against the dollar amid the infighting among European leaders. The Senate’s vote in favor of the rescue plan for financial companies today also gave the dollar a boost. The euro fell to $1.3884 per euro at 13:05 p.m. in Frankfurt, near a one-year low, from $1.4009 yesterday in New York.”
Europe doesn’t see the need to match the 700 billion proposed by the United States in the bailout plan. However, banks have been hoarding cash in case of the after effects of the US.
For those abroad from Europe, it is getting cheaper than ever to go visit Europe and now would be a great time to take advantage of the falling exchange rate.
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