Sunday, November 21, 2010

Hague casts doubt on future of the euro

Minister for Foreign Affairs, a noisy and longstanding critic who European Monetary Union, said he "hope" that the euro would survive, but added: "Who knows?"

His comments came as discussions on the possible continuation, need the newest troubled eurozone Member to bail out indebted Ireland.

The question whether the euro could collapse, Mr Hague told BBC Radio 4's today programme: "well I hope not."

"Nobody has pointed out on several problems as I have over the years have a currency, where we disable the exchange rates and interest rates of countries with different economies."

"But I hope but very white nicht.Wer?"

"If an economist, the, let alone a politician knew would be very talented people, but clearly we ensure that it is stability in the euro area and euro area there is a special case for employees Ireland if Ireland for help asks to."

The Government has repeatedly stressed, financial aid, despite pressure from within the European Union, Dublin soothe a package too nervous markets to accept not requested.

Officials from the European Commission and the International Monetary Fund have been in the Irish capital on Saturday to discuss options for its ailing banks Ireland can handle.

Mr Hague said: "it is very much in the British national interest for the euro area to stable, we be noted but much any errors that would be it and I more than the most pointed."

"But the fact is that it exists and a very serious problem in the euro area affects our economy, employment and businesses in our country."

The United Kingdom an interest in promoting Ireland due to the networking of the economies of both countries had he added.

"We are ready to support base, although no formal request that the assistance was provided it are sessions on precautionary measures in the case of Ireland" said Mr Hague.

The Ministry of Finance has not ruled out all options for financial aid for Ireland, including the possibility of a bilateral Bail-Out, though, that seems unlikely.

United Kingdom until about £ 6 billion guarantee support as part of the European stability mechanism would require if the option is exercised.

Money to bail out Ireland many Tory MEPs are deeply opposed the use of UK taxpayers.

Earlier this week, Edward Leigh warned: "the British people want to be sure at a time when very painful cuts are made here, throwing good money after bad ride, further in the sclerotic arms of the euro that the problems primarily caused the Irish."


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