Just one decade after the European single currency was launched amid fanfare and fireworks, its future is now in doubt as the debt crisis that has engulfed Greece, Ireland and Portugal threatens the entire bloc.
As European leaders prepare to meet in Brussels Friday for a summit aimed at hammering out a solution, Olli Rehn, Europe's commissioner for economic and monetary affairs, last week warned there were just 10 days left to solve the crisis.
And unless the politicians reach a consensus, many economists believe there is a serious risk the eurozone crisis could trigger a global slump. Some even go further -- Alain Juppe, ex-French prime minister, told French media last week that the crisis "raises the spectre of a return to violent conflict on our continent."
Many analysts saw it all coming of course, arguing that one fiscal system could never work for 17 countries and more than 330 million people.
Read more:
www.cnn.com
No comments:
Post a Comment