Home
 
Choose Your City
Change City

EU economy chief: fears of euro's demise premature

Reuters

BRUSSELS (Reuters) - The euro currency is not going to collapse, neither now nor in 20 years, European Commissioner for Economic and Financial Affairs Pierre Moscovici said on Thursday.

Moscovici was responding to comments by Ted Malloch, reported by media to be the likely new United States ambassador to the European Union, who has told the BBC he would short the euro because the single currency "could collapse" in the next 18 months.

"I don't think this is a very informed judgment, the euro is not going to collapse, neither in 18 months, not in 10 years, nor in 20 years," Moscovici told reporters on entering a meeting of euro zone finance ministers.

"We have a single currency, which is a major factor of unity among us, it is no use trying to divide the European Union," he said.

"We will disappoint those who see us already dead. We should always reflect on Mark Twain's words: "The reports of my death are greatly exaggerated," Moscovici said.

Asked if this meant the relationship between the new U.S. administration and the EU was off to a bad start, Moscovici said: "Let's be cool".

(Reporting By Jan Strupczewski)

 

Have Your SayLeave a comment

Consider AlsoFurther Articles