EU Humanitarian Aid Commissioner Kristalina Georgieva: The euro crisis may be nearing its end
The crisis in the euro area may be nearing its end, EU Humanitarian Aid Commissioner Kristalina Georgieva forecasts. In her words, during the last couple of weeks we’ve seen three clear-cut signals that lead to that conclusion. The first signal is the ECB decision to buy limitless amounts of bonds of debt-ridden countries, provided the latter stick to their austerity measures. Mrs. Georgieva believes this decision is of paramount importance as it says to the world that the euro area members have a powerful bazooka and they are ready to use it to save their currency. The second signal is the German court ruling that allows the country’s participation in the European Stability Mechanism (ESM) and the third signal is the outcome of the Dutch elections. Mrs. Georgieva opines that a strong outlook for Europe can be built on two things. The first thing is a rather serious approach to competitiveness and structural reforms plus more attention to labor productivity and education. The second thing is going towards greater economic integration, banking union, creating mechanisms for better functioning of European economies and political integration.
Source: www.focus-fen.net
(25.09.2012)