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Showing posts with label Hague. Show all posts
Showing posts with label Hague. Show all posts
Sunday, November 21, 2010
Hague doubts about the future of the euro
The Minister of Foreign Affairs, a noisy and prolonged critic of the European Monetary Union, said he "hopes" that the euro would survive, but added: "who knows?"
His comments came as discussions continue on the possible need to bail out debt Ireland, the most recent crisis affected euro area Member.
Asked whether the euro could collapse, Mr Hague told BBC Radio 4 today programme: "well I hope not.
"Nobody has pointed out more of the problems than me over the years, in having a currency in which we lock each other Exchange rates and interest rates of countries with different economies.
"But I hope not. who knows?
"If an economist that, let alone a politician knew, would be very gifted people, but obviously we want to ensure there is stability in the euro area and regardless of the euro area there is a specific case for assisting Ireland if Ireland that is asking for help."
The Government has repeatedly stressed that Dublin has not asked for financial assistance, despite the pressure from within the European Union to accept a package to calming nervous markets.
Officials of both the European Commission and the International Monetary Fund were in the Irish capital on Saturday to discuss the options for ensuring that Ireland can deal with are struggling banks.
Mr Hague said: "it's very in the British national interest for the euro area to be stable, no matter how much we all the errors that would have, and I pointed them out more than most.
"But the fact is that it exists and is a very serious problem in the euro area will have an impact on our economy, jobs and companies in our country."
The United Kingdom had a particular interest in supporting Ireland due to the interconnectedness of the two countries ' economies, he added.
"We are willing to help in the case of Ireland, although no formal request was made that need help, there are meetings that is going on a precautionary basis," Mr Hague said.
The Treasury has not ruled out all options concerning financial aid to Ireland, including the possibility of a bilateral bail-out, although that seems unlikely.
Great Britain would be necessary in order to ensure to about 6 billion pounds of aid in the framework of the mechanism of stability in Europe, if that option is pursued.
Many Tory MPs are deeply opposed to the use of UK taxpayer money to bail out Ireland.
Earlier this week, Edward Leigh warned: "the British people want to be sure at a time very painful cuts are here that there is no harm in driving good money is thrown the Irish further in the sclerotic arms of the euro in the first place the problems."
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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