German Finance Minister Backs Euro Ouster for Delinquent States

Discussion in 'Wall St. News' started by ASusilovic, Mar 12, 2010.

  1. March 12 (Bloomberg) -- German Finance Minister Wolfgang Schaeuble called for “prohibitive” sanctions including expulsion from the euro region as the ultimate penalty for countries that repeatedly flout debt rules.

    At the same time as he raised the specter of the breakup of the euro currency, Schaeuble also endorsed the creation of a European monetary fund to help deficit-plagued states as long as its lending was tied to strict conditions.

    “Should a euro-zone member ultimately find itself unable to consolidate its budgets or restore its competitiveness, this country should, as a last resort, exit the monetary union,” Schaeuble wrote in today’s Financial Times.

    Ha, ha, ha...:D :D :D