Eurozone crisis 'threatens EU'

[Phoenix One]

Eurozone crisis 'threatens EU'

 

Herman van Rompuy, the EU president, says 27-nation bloc will not survive if it fails to overcome the debt crisis.

Last Modified: 16 Nov 2010 15:37 GMT

 

 

The European Union will not survive if it fails to overcome a debt crisis plaguing the euro single currency area, the bloc's president Herman Van Rompuy has said.

 

Hours from a meeting of finance ministers in Brussels on Tuesday, Van Rompuy said that the EU and eurozone were in danger from alarm in the financial markets.

 

The meeting was called to grapple with an exploding debt crisis that has already brought Greece to its knees, and now threatens Ireland and Portugal.

 

"We all have to work together in order to survive with the eurozone, because if we don't survive with the eurozone we will not survive with the European Union," Van Rompuy said in a speech in Brussels.

 

 

Read more: http://english.aljazeera.net/business/2010/11/20101116101849606475.html

 

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The EU and eurozone are fighting to survive with EU President Van Rompuy adding substance that both are under serious threat and fighting to survive. The debt crisis is posing a very real threat to continued survival of euro and EU.

 

The question posed is not will the euro and EU fall but when.

[verona]

Is this the beginning of the end for the Euro? I'm so glad we stayed out of it otherwise we'd be in bigger trouble than we already are.

 

I did think this crisis might have strenghened the pound against the Euro? In fact the pound has slightly weakened against the Euro today from 1.182 this morning closing at 17.4

[Free energy]

I think that the UK's position with the EU - in it, but not of it, suits us just fine. I think we've been quite clever and struck a good balance.

[Tradescanthia]

Ireland was living in cloud cuckoo land, with it's mega grants etc. Now the bubble has burst and its back to reality............

[HeadingNorth]

I'm not sure why he thinks that you cannot have an EU without a common currency. We had exactly that for several years prior to 2000.

 

We can't, perhaps, have the particular type of Union that he wants; but we can still have a union.

[mort]

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