The euro dropped to a five-year low against the dollar

Falling further than during the worst of Covid panic in March 2020 

A weak euro, which tends to make imports more expensive, is exactly what the ECB doesn’t need. 

Import price inflation in the major European economies is already easily at its highest since the creation of the euro in 1999 

Unemployment throughout the eurozone continues to run on a different scale from the U.S. The sovereign debt crisis a decade ago, and the desperate austerity measures that accompanied it, have left a joblessness problem that remains unvanquished

John Authers Bloomberg 27 april 2022

https://www.bloomberg.com/opinion/articles/2022-04-27/fang-stocks-and-the-euro-crash-into-crises-of-investor-expectations

ECB Must Act Soon to Avoid a Currency Crisis

The euro. The slide this time is worrisome. 

https://englundmacro.blogspot.com/2022/04/ecb-must-act-soon-to-avoid-currency.html