Eurozone fears hit value of single currency

The Telegraph reports that the euro has slumped against a range of currencies as fears of worsening situations in Italy and Spain and continuing disputes between eurozone leaders.

According to the paper, European banks have been desperately repatriating funds from across the globe in a bid to shore-up defences at home.

However, a weaker euro may actually benefit the southern countries experiencing financial difficulties, with traders predict that the European Central Bank will print money to tackle the eurozone's issues, further lowering the currency's value.