Foreign Secretary, William Hague
Posted on 11/20/2010 10:00:02 PM PST by bruinbirdman
The Foreign Secretary said he "hoped" the euro would survive, but added: "Who knows?"
Foreign Secretary, William Hague
His comments added weight to already frenzied speculation about the future of the eurozone as the European Union prepared to bail out debt-ridden Ireland.
As the crisis intensified yesterday, the head of the International Monetary Fund provoked outrage among eurosceptic MPs by saying that a Federal Europe with more sovereign power was the best defence against future problems.
Tory MPs described the suggestion as "absolutely perverse".
Ireland is expected to agree a rescue loan to shore up its banks of up to £85 billion within days, but many fear loss of sovereignty will be the price of the bail-out.
Mr Hague, a long-standing critic of European monetary union, said he hoped the single currency would not collapse, but he acknowledged that this was possible.
He said: "No one has pointed out more of the problems than I have over the years in having a currency where we lock together the exchange rates and interest rates of countries with different economies.
"But I very much hope not. Who knows?
"If an economist knew that, let alone a politician, they would be very gifted people, but clearly we want to make sure there is stability in the eurozone and irrespective of the eurozone there is a specific case for assisting Ireland if Ireland asks for that assistance."
Officials from both the European Commission and the International Monetary Fund were in the Irish capital yesterday to discuss the options for ensuring Ireland can cope with its struggling banks.
Mr Hague said: "It's very much in the British national interest for the eurozone to be stable, however much we pointed out all the faults that it would have, and I pointed them out
(Excerpt) Read more at telegraph.co.uk ...
When the goal is a global currency why is there any doubt about the Euro failing?
Socialism is right now trying to collapse their only true enemy. US capatalism. Without aggressive push back from our new congress and the continued drive of the conservative tea party movement our nation will get sucked into the world financial collapse and there will be one currency.
It is the goal of the world socialists like Soros and Obama and it is amazing how fast and transparent they have moved.
There is not going to be a global currency.
think they call that gold
King James Bible, Revelations 13:17.
And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
Why? Greed. Timothy 6:10 For the love of money is the root of all evil:
There will be a single currency.
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