A Quote by Helmut Kohl
Two decisions have damaged the stability both of the euro and of Europe: the premature admission of Greece to the euro area and the breach and subsequent weakening of the stability and growth pact.
Related Quotes
Greeks have to know that they are not alone ... Those who are fighting for the survivor of Greece inside the Euro area are deeply harmed by the impression floating around in the Greek public opinion that Greece is a victim. Greece is a member of the EU and the euro. I want Greece to be a constructive member of the Union because the EU is also benefiting from Greece.
Our membership of the euro is a guarantee of monetary stability and creates the right conditions for sustainable growth. Our membership of the euro is the only choice.
The uncontrolled increase of the euro rate vis-a-vis the dollar threatens employment growth in the euro area.
Our position in Europe is not negotiable. The Greek people will defend it by all means. But participation in the euro involves rules and obligations, which we must consistently meet. Greece belongs to Europe and Europe cannot be envisaged without Greece.
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.
Interest rates do not have to be identical across the whole euro area, but it is unacceptable if major differences arise from broken capital markets or concern about a euro area break-up.
Europe and the euro zone have no reason, rationally, to push Greece out of the euro. But this is a system in which many parties, many countries, many governments, many electorates participate and we could have events which, rationally, are not controllable.
Europe must dissipate any doubts over the euro, affirm that the euro is an irreversible project and act in consequence.
Germans tend to forget now that the euro was largely a Franco-German creation. No country has benefited more from the euro than Germany, both politically and economically. Therefore what has happened as a result of the introduction of the euro is largely Germany's its responsibility.
Greece has given Europe the opportunity to fix a defect in the euro zone, that is the fact that we did not have a fiscal union. Now steps have been taken to begin that process. And there is more solidarity from nation to nation, and that is a good thing. That has been Greece's gift to Europe.
China has really succeeded because of its stability.
So my feeling is, how they are going to maintain this fantastic stability in a very fast changing economic situation.
I think this is a challenge we face, how the global region will evolve in stability with such a fast growth.
If they succeed to do that, no doubt, in the next generation it will be the major area of the world, economically.
In my min,d there is arguably a greater risk of a default on the debt of a U.S. state than there is on the debt of a euro-area member. I consider it unthinkable that a euro-area country would default.
If a Chancellor is trying to push something through, he must be a man of power. And if he's smart, he knows when the time is ripe. In one case - the euro - I was like a dictator... The euro is a synonym for Europe.
Businesses will only invest in Greece if three conditions are fulfilled. First, there must be a clear commitment to the euro. No businesses will invest if they have to fear that Greece will leave the euro zone at some point. Second, the Greek government must be prepared to work together with European institutions in order to restructure the country.
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.
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.
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