Sept 23, 2010
The question whether the single European currency will survive the current crisis is a “silly” one because the present situation created opportunities to actually make the monetary union stronger, Otmar Issing, president of the Center for Financial Studies and a former ECB board member told CNBC Thursday.
Various analysts but also investors have predicted the demise of the euro. Famous investor Jim Rogers said the single currency will likely break up in the next 15-20 years.
“It will survive, this is a silly question,” Issing said when asked whether the euro will withstand the headwinds it is faced with.
“The crisis gives a chance to make improvements for the future,” he said, adding that the European Union has survived and progressed by learning from various crisis situations it went through and adapting to them.
This article was posted: Thursday, September 23, 2010 at 4:43 am