Last week, the euro recorded its largest weekly decline against the dollar since mid-August 2010, falling to around 1.3650 dollars.Most market players see the single currency tested the threshold of $ 1.35 in the short term.

According to Howard Wheeldon, a technical analyst at BCG Partners Capital, nothing came to reassure investors about the euro area over the weekend, which should lead to a peak level of volatility on stock markets this week. Last week, the euro has suffered from the change in perspective of the European Central Bank (ECB) in terms of monetary policy, the ECB having been less aggressive in the fight against inflation.

The resignation of Jürgen Stark, member leading the ECB, and concerns about the possibility that Greece does not receive its next tranche as part of its aid program for failing to implement its part of the contract have also sealed the single currency.

This should suffer from an article in Der Spiegel saying that the German Ministry of Finance examined several scenarios as part of the debt crisis, one out of Greece to the euro area.

Philipp Rösler, German Economy Minister and leader of the liberal FDP, partner of the CDU Angela Merkel in the ruling coalition in Berlin, went even further by saying in an article published by Die Welt an orderly bankruptcy of the strike was no longer a taboo subject.