Risk of eurozone break-up ‘very real’

The debt-ridden eurozone risks break-up unless it forces banks to eventually share the crisis bill with taxpayers, Slovakia, the euro area member who recently refused to participate in the Greek bail-out, has suggested.

“Even during current conditions that are very tough, very complicated, and when the risk of the eurozone break-up – or at least of its very problematic functioning – is very real, despite all that, Estonia will become a new member in January,” Slovak finance minister Ivan Miklos said on Wednesday (24 November). He was speaking to university students in the Czech capital, Prague.

Since it came to power in July this year, the Slovak centre-right government has called for private investors to feel the pain of any rescue operation under the eurozone umbrella. It considers the Greek bail-out “essentially a mistake” and a “precedent” that made European governments a “hostage” of financial markets.

EUobserver

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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell