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Wednesday, June 01, 2005

ECB in Hot Water

As the euro continues to slide, there is another cause celebre in the European press today:

"It was reported by a German newspaper on Wednesday that senior German policymakers, including Hans Eichel, finance minister, and Axel Weber, Bundesbank president, had been present at a meeting where the possible “collapse of the euro” had been discussed. It was stated however, that neither commented on the possibility."

The magazine was Stern, one of the speakers was MS's Joaquim Fels, and I'm blogging about it at Afoe. The issue isn't whether or not the euro is going to break up - it clearly isn't - but the fact that people are even hypothetically considering the topic. The current crisis in Europe is deep indeed.

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