Currency falls to 16-month low against sterling as Italy’s UniCredit spells out risk of eurozone collapse The Italian bank UniCredit warned its investors of the potential risk of a break-up of the single currency as the euro was battered to a 16-month low against the pound on anxiety about the health of eurozone governments and their banks. Trading in the bank’s shares was halted five times on Thursday because of huge falls as shareholders digested the terms on which it was trying to raise €7.5bn (£6.2bn) to plug a hole in its regulatory capital. Italy’s market regulator, Consob, said it was looking at whether short-selling rules had been broken because of the 30% fall in the shares in the 48 hours since the terms of the rights issue were announced

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