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Eurozone split ‘would destroy single market’
Posted By admin On November 12, 2011 @ 2:46 am In Featured Stories,Money Watch | Comments Disabled
Robert Winnett, and Nick Squires
London Telegraph 
November 12, 2011
The entire European single market could collapse if countries are forced to leave the euro, the head of the European Union has said.
The warning from Herman Van Rompuy came after David Cameron said there was now a “big question mark over the future of the eurozone”.
Angela Merkel, the German chancellor, is next week expected to back proposals to change European treaties to allow countries to leave the euro.
French and German officials are understood to have begun discussing how countries such as Greece and Italy could be forced out of the eurozone if they refuse to cut public spending and borrowing.
However, Mr Van Rompuy, the president of the European Council, said: “Let us be clear: we will not prune the eurozone to a more selective club.
“That would be contrary to the letter and the spirit of the European political pact, as embodied in the treaties.
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URLs in this post:
 London Telegraph: http://www.telegraph.co.uk/news/worldnews/europe/eu/8885611/Eurozone-split-would-destroy-single-market.html
 AXA fears ‘fatal flaw’ will destroy eurozone: http://www.prisonplanet.com/axa-fears-fatal-flaw-will-destroy-eurozone.html
 Eurozone ‘has 80% chance of losing the single currency in next decade,’ claims think-tank: http://www.prisonplanet.com/eurozone-has-80-chance-of-losing-the-single-currency-in-next-decade-claims-think-tank.html
 France plots eurozone ‘breakaway group’: http://www.prisonplanet.com/france-plots-eurozone-breakaway-group%e2%80%99.html
 Collapse of the Eurozone ‘will start this year’ as countries pull out of the single currency, leading think tank warns: http://www.prisonplanet.com/collapse-of-the-eurozone-will-start-this-year-as-countries-pull-out-of-the-single-currency-leading-think-tank-warns.html
 Eurozone debt crisis could rip E.U. apart: officials: http://www.prisonplanet.com/eurozone-debt-crisis-could-rip-e-u-apart-officials.html
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