Euro falls to 1.0185 in Europe as Italy gov39;t collapses
ECB expected to raise rates by 25 bps or 50 bps at 1215 GMT1415 CET
Russia restarts gas flows into Europe

LONDON, July 21 Reuters The euro wilted on Thursday as the European Central Bank geared up for its first rate rise in over a decade and as political tumult in Italy offset relief following the restart of Russian gas flows through the region39;s largest pipeline.

Traders will have more than just the landmark rate move to juggle later, with the ECB also set to sketch out its antifragmentation plan a bond market intervention scheme it hopes will prevent another euro zone debt crisis. 

The euro had risen as high as 1.0230 overnight but fell to 1.0185 in Europe after three of Mario Draghi39;s Italian government coalition partners snubbed a confidence vote he had called on Wednesday to try and renew their fractious alliance. 

The shared currency has enjoyed a strong week nevertheless on bets the ECB might deliver a bumper 50basispoint bps rate hike later, and after Reuters reported the Nord Stream 1 pipeline would reopen on time following 10 days of maintenance.

The link39;s operator said flows had restarted on Thursday and Germany39;s network regulator indicated they were back at the premaintenance level of 40 capacity.

The market has priced in, give or take, 5050 chance of a 50 basis point ECB hike today so you would have thought you would get a reaction if it happens, said Societe Generale strategist…