The Euro fell to its lowest, since 2011, in comparison to the currency of Japan Yen.

Juergen Stark quits European Central Bank executive panel, as ECB bought the bonds of countries burdened with huge debts. Germany is looking forward to financially support the banks. Greece is incapable of paying out its debts.

Mr. Stark’s resignation comes after the appointment of German junior finance minister Joerg Asmussen in the executive panel of the ECB. The news of Mr. Stark’s quitting the organisation resulted in the fall of the currency at the index.

In reference to the Mr. Starks decision to leave ECB, Edgar Meister, a former Director of the Bundesbank, states that, “His resignation is a wake-up call, perhaps the last warning. Politicians cannot misuse the central bank to finance governments, otherwise danger threatens – for the ECB as well as the euro”.

Meanwhile, the European shares fell with Franc’s CAC dropped by 3.6% and the index of Germany, witnessed a fell by 4%, the index of Britain FTSE plunged to mark of 8.7% and Royal Bank of Scotland fell by 5.5%.

The secondary markets like index of Hungary dropped by 6.2%, Italy fell by 5% and Spain plummets by 4.4%.