The Euro Is Plummeting Right Now

The euro has taken a major tumble this morning, down more than $0.01 on the dollar in the last hour.

This drop comes on the heels of an admission by future European Central Bank President Mario Draghi that European banks “clearly” have funding problems.

Draghi — the current Financial Stability Board Chairman — will take leadership of the ECB next month. Speculation abounds over whether Draghi will prove a far more active central banker than the incumbent Jean-Claude Trichet.

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