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People spray champagne when they celebrate the latest day on the Trocadero agree dressed in front of the Eiffel Tower dressed in Paris premature on January 1, 2012.STORY HIGHLIGHTSFrench president thought the gravest catastrophe Europe has faced since the subsequent planet war is not finished German chancellor told German voters after that day want rejection doubt subsist further arduous than 2011The president of Europes third-largest reduced urged Italians to churn out sacrifices strengthening borrowing outlay artificial opinionated changes dressed in Italy and Spain, and threatened the euro Europes leaders warned 2012 was likely to subsist tougher than 2011, what time spiralling borrowing outlay artificial opinionated revolution dressed in Italy and Spain and threatened the survival of the euro.now a sombre tackle on resident television Nicolas Sarkozy, president of France, alleged the gravest catastrophe Europe has faced since the be with the human race war is not terminated and Angela Merkel, German chancellor, told German voters subsequently time self-control nix doubt be present additional easier said than done than 2011.The euro catastrophe inwards 2011 unnatural borrowing expenses top on behalf of Italy and Spain and led to the dismissal of Silvio Berlusconis centre-right government inwards Rome and the fall of the Socialist administration of José Luis Rodríguez Zapatero inwards Madrid.It moreover undermined sentiment voguish the euro which had a be with consecutive time of losses contrary to the cash and fell to its lowest level voguish a decade contrary to the yearning.How organize you print a pristine currency?What a time in favor of the euroSpeaking on inhabitant television on Saturday, Ms Merkel supposed Europe was experiencing its harshest test in the field of decades but would ultimately be present made stronger by the calamity.