Euro 'needs political support'
The euro could be in trouble, according to a leading economic expert writing in Belgian weekly, The Business.
This morning the euro was at 1.4405 against the pound, while the single European currency was at 1.2390 against the dollar.
News that Paul de Grauwe, from the Catholic University in Leuven, Belgium, has warned the euro's trajectory will not be sustainable without solid political support is likely to concern some analysts.
Following on from comments emerging from the European Central Bank about the viability of the currency in light of political frailty, there are likely to be concerns over its long-term future.
German Bundesbank vice president Jurgen Stark said recently without support from Europe's leading governments the currency would perish.
There was some encouraging news today, however, with an unexpected upturn in German business confidence, hitting a 15-year high.