EU Moscovici Says Euro Won’t Collapse

The euro currency is not going to collapse, neither now nor in 20 years, European Commissioner for Economic and Financial Affairs Pierre Moscovici said on Thursday.

Moscovici was responding to comments by Ted Malloch, reported by media to be the likely new United States ambassador to the European Union, who has told the BBC he would short the euro because the single currency “could collapse” in the next 18 months.

“I don’t think this is a very informed judgment, the euro is not going to collapse, neither in 18 months, not in 10 years, nor in 20 years,” Moscovici told reporters on entering a meeting of euro zone finance ministers.

“We have a single currency, which is a major factor of unity among us, it is no use trying to divide the European Union,” he said.

via Reuters

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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