Euro in trouble

The euro, serving as the official currency for 20 members of the European Union, has seen a sharp decline since Friday as uncertainties arise amid a far-right surge in the EU Parliamentary elections. The far-right parties gained notable support, despite the incumbent leader, Ursula von der Leyen claiming a victory.

This has been followed by a slump in European stocks:

Unfortunately the ‘glue’ that holds the euro-zone together is now under pressure. Hopefully this will stabilize as it could quickly spiral into a currency crisis.

The ECB cannot act as quickly as most central banks due to its complex workings.