BlackRock CEO Says Euro Can’t Survive Without a Strong Germany and France

The euro could be in danger of disappearing within the next decade if France does not continue pushing economic reforms, BlackRock Capital boss Larry Fink said Tuesday.

Fink expressed his concern about the health of one of Europe’s largest economies at The New York Times’s DealBook Conference, mentioning France’s recent downgrade by Standard & Poor’s.

“I don’t think in 10 years time we can have a euro if we don’t have a strong France and a strong Germany,” he said in an interview shown on CNBC. “It’s all predicated on two very strong countries and the competitiveness of France is still deteriorating.”

Fink also said he wants the Federal Reserve to start tapering its asset buying program as soon as December, and that he expects emerging markets to drop 12-15% in the near future.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza