In the end, the British didn't vote to leave because of the euro. They're not even members of the currency union. Even the refugee crisis hardly affected the country.
Look at Ukraine. Its currency, the hernia, is plunging. The euro is really in a problem. Greece is problematic as to whether it can pay the IMF, which is threatening not to be part of the troika with the European Central Bank and the European Union making more loans to enable Greece to pay the bondholders and the banks. Britain is having a referendum as to whether to withdraw from the European Union, and it looks more and more like it may do so. So the world's politics are in turmoil.
In China the largest denomination bill they have is 100 yen, and that's maybe $7. So here you have a whole economy working with only a $7 note as the largest denomination. The euro wants to get rid of the 500-euro bill just as the United States years ago got rid of the $1,000 bill because only the criminals used $1,000 bills.
Businesses will only invest in Greece if three conditions are fulfilled. First, there must be a clear commitment to the euro. No businesses will invest if they have to fear that Greece will leave the euro zone at some point. Second, the Greek government must be prepared to work together with European institutions in order to restructure the country.
We all use cash in our everyday life, but we don't use hundred-dollar bills. We're not using 500-euro notes. And yet these account for mountains of cash out there. I think they're being used in tax evasion and by criminals of all types.
I have criticized it [Europe], but I repeat: we keep 40 percent of our gold and foreign currency reserves in euros, we are not interested in the collapse of the Eurozone, but I do not rule out the possibility of decisions being made that would consolidate a group of countries equal in economic development and this, in my opinion, will lead to a consolidation of the euro. But there can also be some interim decisions in order to keep the present number of members of the Eurozone unchanged.
I have had situations in the past when you are close to signing a player and the money involved switches from euros to pounds to dollars. It is a difficult process, but one we have to work with.
The euro is a failed currency, a wrong currency, a failed experiment.
First of all we need to move past the euro.
If you look at the funding of far-right parties in Europe - where's the money coming? We do know that 9 million euros was given by Russia, through a Czech bank, to [French National Front leader] Marine Le Pen. We know that this is not an isolated case. This is happening elsewhere.
The position of EU commissioner for economic and monetary affairs could be combined with the office of Euro Group chairman. That job would be a great challenge for anyone who assumed it. On the one hand, he would have to make proposals. On the other hand, he would have to negotiate compromises with his European counterparts.
You can't have euro bonds without more interconnection among the national budget policies.
There is a proposal to divide the currency zone into a north and a south euro. There is also the idea of setting up a core monetary union in the middle of Europe. I disapprove of these debates. Instead, we should devote all of our efforts to supplementing the monetary union with a political union.
This is also evident in Europe, not the dependence on oil and gas, but the fact that structural reforms are long overdue, and I think that the leading economies are very pragmatic and efficient in addressing the issues facing the European economy. That is why we keep approximately 40 percent of our gold and foreign currency reserves in euros.
I find it extraordinary that I'm being told I can't trust you the voter to get a government in to protect workers rights and that we need Brussels to defend you, the euro is a broken project we are going to pay, no you are going to pay out of your taxes one bailout out of another and the European union does not protect your jobs.
European citizens expect that there will be also a fair system inside the European Union and in the euro, and that's why we have to have quite hard discipline.
Governments must commit to sound economic and financial policies. This is how we ensure reform in the euro area - and our independence.
The euro area must not be treated as an "opt out" from the European Union.
By the way, the European Union Member States together - even the euro area Member States together - are by far the biggest contributors to the IMF.
After all, an overvalued dollar gives us the ability to buy foreign goods at lower prices. And the existing volume of exports brings more yen and euros than they would if the dollar were more competitive.
I've read all the books, I've watched all the films and now, thanks to the glory of home gaming, I've even kind of experienced it: I've landed on the beaches of Normandy, I have successfully held Pegasus Bridge and I've disabled German tanks with stolen Panzerfausts. I have fought in Italy, France and North Africa and if I had a Euro for every virtual life I've lost I'd be able to build a replica of Hitler's bunker in my back garden.
Germany has always stood for an E.U. of the 27 countries. But in light of Britain's continued resistance to further integration steps, as we saw with the fiscal pact, there are limits to my optimism in this regard. It's quite possible that we will have to create the new institutions for the euro zone first.
It is true that no member state can be required to make payments to others. But if countries want to offer voluntary assistance, as in the Greek case, this isn't only allowed, but it's also in Germany's interest. We all benefit by ensuring the stability of the euro zone.
A European currency will lead to member-nations transferring their sovereignty over financial and wage policies as well as in monetary affairs... It is an illusion to think that States can hold on to their autonomy over taxation policies.
We must now face the difficult task of moving towards a single economy, a single political entity .. For the first time since the fall of the Roman Empire we have the opportunity to unite Europe.
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