国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

World Business

Eurozone breakup 'out of the question'

By James Neuger (China Daily)
Updated: 2010-05-28 11:43
Large Medium Small

BRUSSELS - Former Bundesbank President Helmut Schlesinger said the euro's slide hasn't left it at an unnaturally low level and the breakup of Europe's 16-nation currency union is out of the question.

"The euro isn't in danger," said Schlesinger, who ran the German central bank from 1991 to 1993. While the pace of the currency's decline "did give cause for concern," its level "is by no means catastrophically low," he said.

Europe's single currency has plunged about 20 percent against the dollar in six months as Greece's budget blowout undermines confidence in other indebted nations such as Portugal and Spain, fueling speculation the monetary union could splinter.

The sell-off prompted governments to announce an unprecedented bailout fund and the European Central Bank to start buying sovereign debt. The euro still buys $1.22, compared with $1.17 on its debut on Jan 1, 1999.

Related readings:
Eurozone breakup 'out of the question' Eurozone inflation rises slightly to 1.5% in April
Eurozone breakup 'out of the question' Eurozone unemployment rate remains high in March
Eurozone breakup 'out of the question' Eurozone finance ministers to meet on Greek rescue
Eurozone breakup 'out of the question' Gold climbs as eurozone debt crisis intensifies

Its recent decline - about 8 percent since the start of May - "reflected the extent of the uncertainty on the markets," Schlesinger said. "That was extreme. That has to be contained and is perhaps contained, more or less."

Schlesinger, 85, steered the Bundesbank through the economic shock that followed German reunification in 1990, boosting the bank's benchmark discount rate to a postwar record of 8.75 percent in July 1992 after a consumer-led boom drove inflation as high as 6.3 percent.

The Bundesbank's tight monetary policies exported recession across Europe as interest rates went up in countries that pegged their currencies to the deutsche mark.

Culminating in the breakdown of Europe's system of managed exchange rates in 1993, the post-Cold War economic tumult redoubled European efforts to forge a common currency. The euro isn't going to disappear, Schlesinger said.

"Bringing about the end of the euro is something that one cannot plausibly conceive of at the moment," he said. "It would involve so many complications, with so much potential for setbacks - including economically - that one cannot, and in my view must not, contemplate it."

Bloomberg News

 

东乡| 武宣县| 云南省| 小金县| 临桂县| 仙游县| 阿拉善左旗| 日照市| 冀州市| 德阳市| 高淳县| 西和县| 洛宁县| 稷山县| 龙里县| 桐庐县| 太白县| 苍山县| 巴楚县| 弋阳县| 汉阴县| 桦南县| 南华县| 青冈县| 广元市| 黄骅市| 孟州市| 札达县| 瓦房店市| 大竹县| 广宗县| 新野县| 镇康县| 瑞安市| 汝城县| 吉隆县| 甘孜| 古田县| 资源县| 华宁县| 青铜峡市|