European Commission President Jose Manuel Durao Barroso said France's rejection of the European constitution was a serious problem and risked affecting the charter's ratification chances elsewhere. Dutch voters go to the polls on Wednesday amid widespread expectations for another "no" verdict. Analysts pointed out that political uncertainty in the euro zone was rising at a time when the economy was showing increasing signs of weakness. Data last week showed German business confidence at its lowest in almost two years and industry groups are calling on the European Central Bank to cut interest rates to stimulate sluggish domestic demand. "There is still a lot of uncertainty going forward about what will happen to the constitution. It is unfortunate for the euro that this difficult political situation is coinciding with a difficult economic situation," said Richard Batley, European economist at Schroder Investment Management. Some analysts said the French "Non" to the EU treaty had thrown the euro zone into a political crisis that would weigh on the currency and regional financial markets. But not all agreed that the fate of the EU constitution would have much significance for investors and many noted that the euro's recent tumble against the dollar had more to do with growth differentials between the United States and Europe than politics. "Europe is not about to descend into anarchy and will continue to operate under existing rules as established in the Nice Treaty," said UBS in a research note.