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CountAllVotes

(20,854 posts)
Mon Jan 2, 2012, 06:17 AM Jan 2012

Euro could become world's leading currency: Noyer

PARIS (Reuters) - The euro could become the world's leading currency in the next decade if leaders of the single-currency bloc succeed in tightening fiscal integration, European Central Bank policymaker Christian Noyer said in an article to be published in the Journal du Dimanche.

European leaders struck a historic deal at an emergency summit in Brussels on December 9 to draft a new treaty for deeper economic union, in an attempt to stem the debt crisis that is threatening to cause the collapse of the single currency.

The news temporarily calmed markets. But concerns quickly resurfaced as the final details of the agreement have yet to be determined and a new treaty could take up to three months to negotiate.

Ratings agency Fitch has said it doubts a comprehensive solution to the crisis can be found and urged more decisive action from the ECB.

http://news.yahoo.com/euro-could-become-worlds-leading-currency-noyer-191853289.html

My comment: Who the hell seriously believes this for one second? I rather think the Euro will be a thing of the past after not too long; certainly before another 10 years have passed. The Euro "experiment" is a failure. They twisted a lot of arms in many countries (i.e. Ireland) to get them to go with the Euro like it or not and now we see the grim results of this action.

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