May 10, 2010 – To repel the onslaught of attacks on the euro from speculators, the EU and IMF have pledged nearly $1 trillion over three years to strengthen the euro and prop up debtor EU nations.

The European Central Bank will buy up eurozone debt to help with liquidity, and the US Federal reserve also reopened currency swaps in an effort to put more cash into the financial system for the short-term.

The euro hit a 14-month low of $1.2523 this past week, and some analysts fear that even this move won’t be enough to save the suddenly embattled.

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