It is the tenth anniversary of the euro. But to celebrate the idea, nobody comes. For the birthday boy is in crisis. Politicians and economists explain what the currency is worth and why it pays to believe in him.
Martin Bean, MDR radio Studio Brussels
Since the first January 2002 we pay with euros and cents. The monetary union because it was exactly though already considered (since the locking of the exchange rates between the eleven countries participating at that time three years earlier). But since the issue of cash is the Monetary Union as it were palpable. Ten years ago it is now. But the idea is not to celebrate, even in Brussels.
Celebrate, no thanks!
The Green Sven Giegold says: "To be honest, to celebrate not just feel like me." The Economist Janis Emmanoulidi does not believe that it is now appropriate to celebrate. The Liberal Alexander Graf Lambsdorff said: "The euro is celebrating his birthday at the moment is not even all keen to stabilize him.." Celebrate, no thanks! As the politicians and experts agreed in Brussels.
online survey | Linkshare
The so-called starter kits should the citizens of Germany in 2001 to join the new currency.The birthday boy is currently in intensive care. But a miscarriage is not so far from the € says the SPD MEP Udo Bullman. "I think the euro introduction date is still reason to be optimistic about the future. The euro is a sound currency. The euro is a godsend for the entire European Union. It must however be defended politically better, and there is still much in wicked one. " Bull man speaks again almost in a celebratory mood.
Good currency, but the wrong policy, which sees the Green Giegold as follows: ". The Euro currency was a good idea and is unfortunately very badly" And his colleague Graf Lambsdorff, FDP, the currency union is not recognized as errors. Especially for German export-oriented economy, there had been a great advantage to introduce the euro.
The good side of the currency
Is the euro and despite everything, basically a success story? Janis Emmanoulidis of the Brussels think tank EPC says yes: "I think, because the numbers are pretty clear over the ten years the euro actually more stable than the DM in their last ten years.." The inflation rate is either low or close to the reference value of two percent was that had prevailed.
Graf Lambsdorff called another pro-euro argument: Externally, the euro has now started at 80 to 85 cents against the U.S. dollar. And now he has lain for years at $ 1.40. A strong currency makes the dollar even more and more its position as the dominant global reserve currency dispute. And yet, the Euro, is all visible on the brink.
The fear of failure
The euro - a coin for (almost) all.The politicians do not like to talk about the danger of failure, the scientists Guntram Wolff takes but does not mince his words: "I believe I have never seen the Brussels community so afraid I think people are really afraid that the project. will fail. And the fear is well justified, and that would obviously be a disaster. "
And Wolff's fear scenario goes like this: If the recession would be worse next year and lose more and more people from Athens to Lisbon and her job in the south of the continent's political situation would spiral out of control, then the boiler would boil over. The "worst-case scenario" was that it would be political instability, and it then maybe there'd be a political majority even in a larger country, to leave the euro. "
Close your eyes and
The consequences of breaking the neuron would be dramatic, even in Germany, of which Wolff is convinced of the think tank Bruegel - bankrupt banks, a massive increase in unemployment. And therefore could only be the motto: Close your eyes and escape to the front. "Now we have this monetary union. This decision can not be easily reversed. And if it is reversed, then with considerable costs."
He is currently often the focus of reporting - and not just for the anniversaryTherefore for Wolff remains really only one choice: "We must continue to be a stronger political union." Where is the european arctic grayling level gets more power in order to make debt sinners to heel. Such rights of intervention are in the creation of monetary union came much too short, and the little that it was written into the Stability Pact, which was not even used. Tinker it now European leaders on which to provide the missing foundation for building a solid currency.
The great pressure to act is working, says the economist Emmanoulidis. He believes that one must not forget that in the last year or two, much has been accomplished, which appeared three or four years ago impossible. But there are still some elements missing from the Crisis Management. The challenge is enormous: "And while the patient is sick and while he undergoes surgery, you have to tell him and now you're running a marathon too," says Emmanoulidis.
Martin Bean, MDR radio Studio Brussels
Since the first January 2002 we pay with euros and cents. The monetary union because it was exactly though already considered (since the locking of the exchange rates between the eleven countries participating at that time three years earlier). But since the issue of cash is the Monetary Union as it were palpable. Ten years ago it is now. But the idea is not to celebrate, even in Brussels.
Celebrate, no thanks!
The Green Sven Giegold says: "To be honest, to celebrate not just feel like me." The Economist Janis Emmanoulidi does not believe that it is now appropriate to celebrate. The Liberal Alexander Graf Lambsdorff said: "The euro is celebrating his birthday at the moment is not even all keen to stabilize him.." Celebrate, no thanks! As the politicians and experts agreed in Brussels.
online survey | Linkshare
The so-called starter kits should the citizens of Germany in 2001 to join the new currency.The birthday boy is currently in intensive care. But a miscarriage is not so far from the € says the SPD MEP Udo Bullman. "I think the euro introduction date is still reason to be optimistic about the future. The euro is a sound currency. The euro is a godsend for the entire European Union. It must however be defended politically better, and there is still much in wicked one. " Bull man speaks again almost in a celebratory mood.
Good currency, but the wrong policy, which sees the Green Giegold as follows: ". The Euro currency was a good idea and is unfortunately very badly" And his colleague Graf Lambsdorff, FDP, the currency union is not recognized as errors. Especially for German export-oriented economy, there had been a great advantage to introduce the euro.
The good side of the currency
Is the euro and despite everything, basically a success story? Janis Emmanoulidis of the Brussels think tank EPC says yes: "I think, because the numbers are pretty clear over the ten years the euro actually more stable than the DM in their last ten years.." The inflation rate is either low or close to the reference value of two percent was that had prevailed.
Graf Lambsdorff called another pro-euro argument: Externally, the euro has now started at 80 to 85 cents against the U.S. dollar. And now he has lain for years at $ 1.40. A strong currency makes the dollar even more and more its position as the dominant global reserve currency dispute. And yet, the Euro, is all visible on the brink.
The fear of failure
The euro - a coin for (almost) all.The politicians do not like to talk about the danger of failure, the scientists Guntram Wolff takes but does not mince his words: "I believe I have never seen the Brussels community so afraid I think people are really afraid that the project. will fail. And the fear is well justified, and that would obviously be a disaster. "
And Wolff's fear scenario goes like this: If the recession would be worse next year and lose more and more people from Athens to Lisbon and her job in the south of the continent's political situation would spiral out of control, then the boiler would boil over. The "worst-case scenario" was that it would be political instability, and it then maybe there'd be a political majority even in a larger country, to leave the euro. "
Close your eyes and
The consequences of breaking the neuron would be dramatic, even in Germany, of which Wolff is convinced of the think tank Bruegel - bankrupt banks, a massive increase in unemployment. And therefore could only be the motto: Close your eyes and escape to the front. "Now we have this monetary union. This decision can not be easily reversed. And if it is reversed, then with considerable costs."
He is currently often the focus of reporting - and not just for the anniversaryTherefore for Wolff remains really only one choice: "We must continue to be a stronger political union." Where is the european arctic grayling level gets more power in order to make debt sinners to heel. Such rights of intervention are in the creation of monetary union came much too short, and the little that it was written into the Stability Pact, which was not even used. Tinker it now European leaders on which to provide the missing foundation for building a solid currency.
The great pressure to act is working, says the economist Emmanoulidis. He believes that one must not forget that in the last year or two, much has been accomplished, which appeared three or four years ago impossible. But there are still some elements missing from the Crisis Management. The challenge is enormous: "And while the patient is sick and while he undergoes surgery, you have to tell him and now you're running a marathon too," says Emmanoulidis.
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