Merkel collapses euro


October 29, Fineko/abc.az. The euro exchange rate to the US dollar has fallen amid statements by German Chancellor Angela Merkel about her readiness to resign from the post of the head of ruling Christian Democratic Union.

It is testified by the auction data. During the trading session on 29 October, the European currency fell from 1.1413 dollar for euro to 1.1368 dollar. Then it rose again up to 1.1410 dollar and fell to 1.1395 dollar. Then euro cost reached $1.14.

The euro collapse occurred after Merkel's statement that she will not be re-elected as chairman of the Christian Democratic Union. Intra-party elections will be held in December.