Understanding the Euro Crisis
Understanding the Euro Crisis through the quotes and insights of some of the world's key financial players
Last Updated on Wednesday, 26 October 2011 15:14 Written by The Editor Wednesday, 26 October 2011 14:57
"They invented the euro and invited everybody to become a member of the euro area. And that was done without changing the rules or clarifying the rules before hand. This was when the great mistakes were made. What we are suffering now is the consequence of that failure"
- Helmut Schmidt - West German Chancellor - 1974 - 1982
Last Updated on Wednesday, 26 October 2011 14:54 Written by The Editor Wednesday, 26 October 2011 14:51
"We were lured into a false sense of security. Europe took for granted what everyone thought was the automatic effect of economic stabilisers in the monetary union. The financial markets were too complacent. Lax policy was not punished by markets until it was too late."
- Patrick Honohan, Governor, Central Bank of Ireland, Member of the Governing Council, ECB August 2010.
Last Updated on Wednesday, 26 October 2011 14:59 Written by The Editor Wednesday, 26 October 2011 14:44
"The European Central Bank has not been matched by an equally strong central political authority. There is no European government with sizeable fiscal resources and authority to enforce needed budgetary discipline within its member states. For all its past successes and future promises, after ten years the common European currency is still a work in process.
"Europe will need to choose - it is in the process of choosing - whether, in fact, it will sustain progress towards a more integrated European economy, characterised by both a common currency maintained by a strong central bank and by a more cohesive European government."
- Paul Volcker, Chairman of the Federal Reserve under United States Presidents Jimmy Carter and Ronald Reagan from August 1979 to August 1987.
Last Updated on Wednesday, 20 April 2011 09:11 Written by The Editor Monday, 18 April 2011 19:44TorFX supply timely, relevant market information by email free of charge and with no obligation.
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Last Updated on Wednesday, 20 April 2011 09:12 Written by The Editor Monday, 18 April 2011 19:35We will contact you as soon as the forex markets hit the rate you are holding out for.
Last Updated on Thursday, 31 March 2011 08:49 Written by Will Peters Thursday, 31 March 2011 08:47Forex analysts at Bank of America Merrill Lynch look at why the euro exchange rate is enjoying such strength.
Last Updated on Friday, 25 March 2011 12:33 Written by Sam Coventry Friday, 25 March 2011 12:31Latest insight into the outlook for the euro exchange rate from Deutsche Bank.
Last Updated on Monday, 21 March 2011 10:57 Written by Will Peters Monday, 21 March 2011 10:55Euro exchange rates buoyed by clarity in future direction of European economy.
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