The euro lies at the root of Europe’s record unemployment rate and countries such as Spain and Greece should quit the common currency to return to economic health, said the head of Germany’s fledgling anti-euro party.
Bloomberg Europe Editor David Tweed explores the shifts and cracks in the euro zone that are dominating world headlines. We ask the question: can the single currency survive? Guests include Erik Neilsen, Steven Major & Georg Grodzki. (Source: Bloomberg)
The yen fell for a fourth day against the dollar after the Group of 20 gave Japan leeway to reflate its economy by indicating the nation’s monetary stimulus plan doesn’t contravene a pact to avoid currency devaluations.
Euro-area finance ministers will “do whatever it takes” to protect bank accounts after their “unique” decision on a deposit tax in Cyprus as part of a rescue package, Luxembourg Finance Minister Luc Frieden said.
Greek Finance Minister Yannis Stournaras, appointed in June as Greece grappled with political turmoil that threatened to tip it out of the euro, says the economy could begin recovering by the end of this year as investors and depositors regain confidence in the country.