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Sirius2b
06-02-10, 21:06
Euro "in danger of becoming unstable"


BERLIN (Reuters) - Guenther Oettinger, a conservative leader in Germany and designated European Union energy commissioner, warned in a German newspaper interview on Saturday that the euro was in danger of becoming an unstable currency. Oettinger, the outgoing state premier of Baden-Wuerttenberg, told the Reutlinger General-Anzeiger daily that stabilising the euro in the face of a deepening debt crisis is one of the greatest challenges the European Union faces.

"In my view the most important (challenge for Europe) is stabilising the currency," Oettinger was quoted saying. "The euro is in danger of becoming unstable -- look at Greece, Ireland or possibly soon Spain, Portugal, Latvia and Italy."

Oettinger's comments in the small regional newspaper from outside Stuttgart stood in contrast to those from German Finance Minister Wolfgang Schaeuble. Both Schaeuble and Oettinger are leaders in Chancellor Angela Merkel's Christian Democrats (CDU).

Schaeuble said at a G7 meeting in Canada on Friday the euro would remain stable despite the problems in individual countries as the deepening debt crisis leapt to the top of the agenda amid fears that Greece's fiscal sickness was spreading.

World stock markets slid to three-month lows on Friday as the worries intensified about a potentially huge bailout and a destabilisation of the euro zone. The euro currency dropped to its lowest since May against the U.S. dollar.

Euro zone countries such as Greece, Spain and Portugal are under increasing pressure to show that they will bring public finances under control as financial markets' fears about the situation in one country spread to others.

(Reporting by Erik Kirschbaum (http://blogs.reuters.com/search/journalist.php?edition=uk&n=erik.kirschbaum&); Editing by Keiron Henderson)

Quelle: http://uk.reuters.com/article/idUKTRE6150M920100206

^ lynx ^
11-02-10, 16:55
Euro zone countries such as Greece, Spain and Portugal are under increasing pressure to show that they will bring public finances under control as financial markets' fears about the situation in one country spread to others.

(Reporting by Erik Kirschbaum (http://blogs.reuters.com/search/journalist.php?edition=uk&n=erik.kirschbaum&); Editing by Keiron Henderson)

Quelle: http://uk.reuters.com/article/idUKTRE6150M920100206

You forgot to bold the word "Greece". But then again we already knew about your sickness obsession towards Iberia. :smile:

Cambrius (The Red)
11-02-10, 17:21
Spain and Portugal fiscal management has been unfairly criticized recently due to heavy speculator activity - the creation of an exaggerated contagion fear - mainly from foreign exchange traders shorting the Euro.

Just two days ago the sovereign risk division of Moodys issued a statement to the effect that Portugal's situation can in no way be compared to that of Greece, which is certainly grave. Portugal, despite weaknesses, is far better managed and has fundamental financial stability, unlike Greece. This week, similar comments concerning Spain and Ireland have been made.

Cambrius (The Red)
11-02-10, 17:23
You forgot to bold the word "Greece". But then again we already knew about your sickness obsession towards Iberia. :smile:

This is now bordering on the pathological. Our friend should find a new and more productive hobby... :bored:

Wilhelm
11-02-10, 17:42
You forgot to bold the word "Greece". But then again we already knew about your sickness obsession towards Iberia. :smile:
noooo..it was a mistake ! :grin:

However , not just 3 countries but 6 :


In my view the most important (challenge for Europe) is stabilising the currency," Oettinger was quoted saying. "The euro is in danger of becoming unstable -- look at Greece, Ireland or possibly soon Spain, Portugal, Latvia and Italy."