A Quote by Luis de Guindos
The battle of the euro is being fought right now in Spain and Italy...The future of the euro is at stake in the next few weeks...
Related Quotes
Italy may well be the main problem. It has benefited most from the euro by having been able to get the euro interest rate instead of what otherwise would have been its own. That would be much higher because Italy has been accumulating so much debt. In the past, Italy has inflated away its debt. The virtue of the euro is that Italy can't do it alone. A tight ECB policy wouldn't permit that to happen again.
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.
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.
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.
I'm a pessimist about the euro, but not about Europe. So the southern periphery, Spain, Italy, Greece, leave - Italy might be the first to go - and the rest stay. That will work just fine. But unless they want to give up democracy, I don't see greater fiscal union as the answer.
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.
So when you are faced with a decision on the euro, it is not surprising that many people are confused. They still try to squeeze the euro debate into the old language. But deep down it is a matter of deciding where one's future lies. It is a matter of political will and courage.
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.
Europe must dissipate any doubts over the euro, affirm that the euro is an irreversible project and act in consequence.
The euro pleases dispirited people for whom European history is not Chartres and Shakespeare but the Holocaust and the Somme. The euro expresses cultural despair.
If we were the problem, it would be very convenient - kick Greece out, everything's fine. What would happen to Spain, what about Portugal, what about Italy, what about the whole of the euro zone? We need more cooperation and less simplification and prejudice.
I've read all the books, I've watched all the films and now, thanks to the glory of home gaming, I've even kind of experienced it: I've landed on the beaches of Normandy, I have successfully held Pegasus Bridge and I've disabled German tanks with stolen Panzerfausts. I have fought in Italy, France and North Africa and if I had a Euro for every virtual life I've lost I'd be able to build a replica of Hitler's bunker in my back garden.
It's not often one gets the chance to write this but, when it comes to the bailouts, especially the euro bailouts, Marxists are right. Working people are being forced to support a privileged few.
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.
The uncontrolled increase of the euro rate vis-a-vis the dollar threatens employment growth in the euro area.
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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