Stress in southern Europe reaches a high as citizens protest continued economic blows.

• Strikes raged in Greece and Spain as governments desperately tried to revitalize the tumbling Euro by cutting pension plans and public sector pay.
• The European Central Bank, in a one year cash injection strategy to get Spanish banks back on their feet, has reported that their bailout strategy will not roll over into the following year, leaving shaky Spanish banks furious.
• Investors fear that the rising stress caused by widespread strikes, coupled with the weak condition of the Euro, could hurt European economic recovery.

Facts & Figures

• The Euro has been pushed to a lifetime low against the Swiss franc.
• European shares fell to their lowest in nearly three weeks, dropping -1.7%.

Best Quote

“Sentiment appears fragile and significant downside risks remain to already pretty muted euro zone economic recovery.” – Howard Archer, Chief EuropeanEconomist, IHS Global Insight

Tags: ECB, economic crisis, euro, Greece, Spain