'Euro is in danger,' German chancellor says


World | 206822 hits | May 19 8:19 pm | Posted by: Strutz
6 Comment

German Chancellor Angela Merkel warned lawmakers Wednesday that failing to shore up government debt and enact tougher financial regulations puts the euro "in danger" and threatens the very future of Europe.

Comments

  1. by avatar Strutz
    Thu May 20, 2010 3:38 am
    "This could be the first step in the demise of the euro," Patricia Croft, chief economist at the Royal Bank of Canada, told CTV News. "Indeed, the downward pressure we're seeing, the significant selling pressure, is investors saying this currency is not going to survive the next 10 years."

    So then what? Does each country go back to their original currency?

  2. by avatar Gunnair Gold Member
    Thu May 20, 2010 3:40 am

































    Agreed. :wink:

  3. by avatar Brenda
    Thu May 20, 2010 3:40 am
    Yeah, we didnt see that coming at all! :roll:

  4. by avatar martin14
    Thu May 20, 2010 5:12 am
    well, Europe has been living pretty high on the hog for the past while anyway,
    and there have been very few measures to counteract it.

    It has been my opinion that the Euro has been overvalued for the past 6-7 years anyway,

    so a correction is in order.


    If they would just enforce the penalties that are in the Euro contracts,

    this wouldnt have happened in the first place.

    All Euro govt's have been out of control now, including France and Germany.

    Time to reign them in.

    Kicking the Greeks out would help.

  5. by avatar sandorski
    Thu May 20, 2010 6:33 am
    Seems a rather knee-jerk reaction. It might plummet, but other Currencies have and survived.

  6. by avatar andyt
    Thu May 20, 2010 6:47 am
    A devalued Euro will help everybody. It will devalue the debt of Greece, and make the exports of Germany more affordable so they can keep pumping money into Greece.

    Actually it's just as possible that this will push the EU into even closer economic integration, with states giving up some of their ability to set their own monetary policies. Whether they can pull that off is another matter. Looks like they either manage to turn themselves into the United States of Europe, or the whole project crumbles - half measures won't work.



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