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Friday, January 06, 2012

To Be Or Not To Be? That is The Question Facing The Euro

Christine Lagarde, the CEO of the IMF, has spoken in South Africa about 2012 and the travails that face the global economy (ie the Euro).

"Will 2012 be the end of the euro currency?

I seriously don't think so. Its a young currency, its a solid one as well.

You have within the zone, not in relation to the currency, serious pressure and issues concerning the sovereign debt, concerning the strength of the banking system which are being addressed.

But the currency itself is not one that would vanish or disappear in 2012, not at all."

When addressing the question as to whether Greece will remain in the Euro, she was decidedly "measured" in her response:

"The euro partners have affirmed, reaffirmed their determination..."

Little confidence then of Greece remaining in the Euro!

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