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Euro Weakens, Spain Eyed

Wednesday, 25 Jul 2012 | 1:00 AM ET

"We have seen the euro weaken and that is not surprising because the markets sense that we are not going to have one of those quiet summers where politicians go away and we can sort of forget about it, certainly what we are seeing in Spain is reaching a critical level," Simon Smith, chief economist at FxPro, told CNBC.