Tags: Germany | Schaeuble | Markets | Test | Eurozone

Germany's Schaeuble: Markets Testing Eurozone But It Will Survive

Monday, 06 Dec 2010 08:21 AM

Germany's finance minister says financial markets are currently testing whether the eurozone will survive but the 16-nation monetary union won't break up.

German mass-circulation tabloid Bild quoted Wolfgang Schaeuble as saying Sunday that dissolving the eurozone would be "immensely more expensive" than the current support measures.

The German public has been skeptical about bailing out troubled eurozone members such as Greece and Ireland.

Schaeuble also was quoted as saying that a breakup of the eurozone would have "unforeseeable economical consequences" and lead to more unemployment and troubled banks.

He says the euro is the world's second most important currency but that markets are questioning a monetary union that lacks a common financial policy.

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Germany's finance minister says financial markets are currently testing whether the eurozone will survive but the 16-nation monetary union won't break up. German mass-circulation tabloid Bild quoted Wolfgang Schaeuble as saying Sunday that dissolving the eurozone would be ...
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2010-21-06
 

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