The euro will survive…for at least another year.And the feet of Ozymandius still stand in the desert.
So proclaimed Jean-Claude Juncker, the Luxembourg prime minister and head of the euro group of countries, who announced Monday night that doubters of the currency’s future would be proven wrong in a year’s time.
The reason for his optimism? Finance ministers from all 17 members of the single currency late Monday decided to mint a new €2 coin next year to commemorate the tenth anniversary of the euro’s circulation, which rolled off mints and presses in 2002.
“It shows that we very much believe the euro will still exist and those who speculated the euro would no longer exist are wrong,” Mr Juncker declared at a post-meeting press conference. “The coins at least will be very physical evidence of that in 2012.”
Tuesday, January 18, 2011
Ecofin has confidence in the survival of the Euro... Well that's nice
Peter Spiegel over at the FT has this rather delightful snippet from the Ecofin conference on the Euro,