Sep 11, 2011

EU's future depends on the euro

Future of the European Union (EU) is entirely dependent on the euro. According to Reuters, a statement to the press made the French Foreign Minister Alain Juppe, who arrived on an official visit to the capital city of Australia, Canberra.

According to him, the EU as an economic and political unity will be subjected to risk if the single currency will suffer from the debt crises of the individual members of the unit, so the leading countries in the eurozone - France and Germany - are committed to do everything to prevent it.

"The loss of euro mark the loss of integrity in Europe itself," - said the head of the French Ministry of Foreign Affairs (MFA).

Recently there was an increase of anxiety among the eurozone countries because of the need to support weaker peripheral countries the unit (in particular, Greece). According to Juppe, that the state needs to fulfill the commitments made by July 21, 2011 at an emergency summit of euro zone and to stabilize the financial system to access the second package of financial aid in excess of the current credit of the EU and the International Monetary Fund, the volume of 110 billion euros.

Some experts believe that Greece should withdraw from the EU bloc. However, in the opinion of Juppe, the integrity of the unit is a priority for its members and in no case should not be destroyed, what authority the French side supports 17 countries of the eurozone.

No comments: