Arab Today, arab today delors euro inherently flawed
Last Updated : GMT 12:56:43
Arab Today, arab today
Arab Today, arab today

Current debt crisis was inevitable

Delors :Euro inherently flawed

Arab Today, arab today

Arab Today, arab today Delors :Euro inherently flawed

Jacques Delors
London - AFP

Jacques Delors London - AFP Over-optimism shown by the euro's creators meant the current debt crisis was inevitable, Jacques Delors, one of the currency's chief architects, said in an interview published in Saturday's Daily Telegraph. The former European Commission president also accused current European leaders of amplifying the crisis by doing "too little, too late", in his first interview with a British newspaper for almost a decade. German Chancellor Angela Merkel kicked off a key week of talks on saving the euro by laying out a vision Friday for closer European "fiscal union". Delors blamed the crisis on "a fault in execution" by politicians during the currency's early days, particularly their refusal to acknowledge the threat caused by imbalances in the economies of member states. "Everyone must examine their consciences," the 86-year-old told the Telegraph. "The finance ministers did not want to see anything disagreeable which they would be forced to deal with," he added. In an eagerly awaited speech in the German parliament on Friday, Merkel said the stakes could hardly be higher, warning that the future of the euro was "indivisibly linked to the unification of Europe". Delors, who was commission chief between 1985-95 and a key player in creating the framework for the euro's 1999 launch, singled out Germany as the biggest stumbling block in finding a swift solution to the crisis. "A combination of the stubbornness of the Germanic idea of monetary control and the absence of a clear vision from all the other countries" was responsible for the ongoing situation, he argued. Germany has come under fire over its refusal to allow the European Central Bank to create new money in order to buy government bonds from at-risk countries, fearing rampant inflation. The former commissioner also accepted that "Anglo-Saxon" politicians and economists "had a point" when they warned that a single currency and central bank could not bring economic stability to a union of nations.  

arabstoday
arabstoday

GMT 19:29 2017 Thursday ,19 October

IMF policies undermine human rights

GMT 19:13 2017 Tuesday ,17 October

GCC public debts reached to $415bn

GMT 10:22 2017 Sunday ,15 October

ADNOC strengthens energy partnership

GMT 17:02 2017 Saturday ,14 October

IMF, Spain warn on economic growth

GMT 05:05 2017 Saturday ,14 October

Saudi Aramco considering ‘range of options’

GMT 07:46 2017 Friday ,13 October

Canada still optimistic for new NAFTA

GMT 19:45 2017 Thursday ,12 October

Economic reform results 'exceed expectations'

GMT 15:34 2017 Thursday ,12 October

IMF: 'Fluid' situation for banks
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today delors euro inherently flawed Arab Today, arab today delors euro inherently flawed

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today delors euro inherently flawed Arab Today, arab today delors euro inherently flawed

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Tillerson heads to Gulf, downbeat

GMT 09:23 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday