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'Bleak winter' warning for Europe from Ernst & Young

Thursday is proving to be another tricky trading day for the European single currency.

It has already lost about 3% of its value against the dollar this week and it is now hovering just above an 11-month-low against the dollar.

Investors have much to concern them from fears about the inadequacy of last weekend's Euro summit meeting to worries about the continent slipping back into recession early next year.

The audit company Ernst & Young have predicted "a bleak winter" for the Eurozone.

Nigel Cassidy reports.

  • 15 Dec 2011