A Quote by Barry Eichengreen
Across the continent, political divisions are deepening. For all of these reasons, the specter of a euro zone collapse has not been dispatched.
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The euro zone must strike for a better governance structure, and there is no alternative to that. Euro zone countries must either develop an exit mechanism for troubled members, or it should embrace a closer political union: an effective governance structure that is capable of enforcing rules.
The euro zone was driven by the neoliberal view that markets are always efficient. That in itself is political. There was no pressing economic need that the euro was required to solve, but leaders believed that it would foster growth.
A country outside the euro zone cannot have a veto over countries in the euro zone.
Part of the concept of the euro zone was to establish a common market. The banks were going to bank across all their countries like we bank across states. But that concept got killed for a whole bunch of reasons that I won't get into. That was a good concept, by the way. It may yet return, because there are huge economies of scale in banking. That's another thing people don't quite get.
For three decades, Senator Arlen Specter served the people of Pennsylvania with independence, toughness, determination and an unflinching devotion to the best interests of his constituents and our country. From the committee room to the Senate chamber, Senator Specter offered a voice of reason and passion in every debate - always willing to reach across the aisle and work across party lines to get the job done, regardless of political gamesmanship or gain.
We are keen to stress that a strong euro zone is good for a strong United Kingdom. It's not for us to write the changes that the euro zone needs to embark on.
You've got some very powerful countries: Poland, the United Kingdom, Sweden and others who have a genuine desire to see the euro zone straighten itself out. It's good for all of us, whether you're in the euro zone or not, to make sure that it doesn't lead to a fracturing.
If the euro zone doesn't come up with a comprehensive vision of its own future, you'll have a whole range of nationalist, xenophobic and extreme movements increasing across the European Union. And, frankly, questions about the British debate on EU membership will just be a small sideshow compared to the rise of political populism.
I don't want euro bonds that serve to mutualize the entire debt of the countries in the euro zone. That can only work in the longer-term. I want euro bonds to be used to finance targeted investments in future-oriented growth projects. It isn't the same thing. Let's call them 'project bonds' instead of euro bonds.
Cyprus joined the E.U. in 2004 and immediately wanted to get into the euro area for the express purpose of completing, as quickly as possible, the union with the core of Europe. It was done because the public thought that would be beneficial for political reasons, not economic reasons.
We link our future to the euro, to the euro zone, and to the European Union while being the nearest neighbor of the United Kingdom with, obviously, a common travel area and a very close working relationship with the U.K.
Most of what needs to be changed in the euro zone can be done without treaty changes. The demand for treaty change is as political as it is legal and I don't think it's going to happen soon.
It is the entire euro zone system which is under threat at the moment, not just a few small countries anymore... Our euro is under threat. The changing situation needs a quick and immediate reaction.
I appeal to the Youth and those on the ground: start talking to each other across divisions of race and political organizations.
Boredom is the specter that haunts children from kindergarten to graduation on every continent.
The Greek people do not want to exit the euro. And I believe the Greek people already have shown that they have made major sacrifices to stay in the euro zone.
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