The euro continues to fall.

For the third consecutive day, the European currency fell on Wednesday against the yen and the dollar. The euro reached its lowest level since November 2001.

For the third consecutive day, the euro fell Wednesday against major currencies, the Asian financial centers. Against the yen, the euro has hit this morning its lowest level since November 2001. It also fell against the dollar. A decline that anticipates the publication of economic confidence index lowered in Germany and France.
Paradoxically the decline of the euro could be a prerequisite for survival, Say two professors of economics from the Massachusetts Institute of Technology (MIT) in a column published this morning in the Financial Times. They state that a depreciation of the European single currency of the order of 30% would include resolving much of the trade deficit of Greece, by boosting its exports.
The decline of the euro due to a structural problem, says a strategist for a Japanese bank, quoted by Bloomberg. And he says the decline should continue.