Eur/usd - 1.2376 ... ECB's Axel Weber (Bundesbanks's president) warned that risks to the financial system still remain n should not underestimate. In addition, German Chancellor Angela Merkel said that Europe is in a 'very, very serious situation'. With Weber n Merkel's comments, euro tumbled to as low as 1.2358, the lowest since late October 2008. Offers by various accounts are now reported at 1.2395/00, 1.2430/40 while bids are seen a few at 1.2355/60.