‘Euro will be stable’ claim is ridiculed (10)

Germany’s finance minister has been accused of groundless optimism after he claimed that Europe’s leaders will have “banished the dangers” of the euro crisis within 12 months.

Wolfgang Schauble said he was confident that the currency union will survive and the political measures will underpin the shattered eurozone economies. “We will be far enough along in the next 12 months that we will have banished the dangers of contagion and stabilised the eurozone,” he told newspaper Handelsblatt.

As the euro plunged against the yen to its lowest level for 10 years, Mr Schauble was reported as saying he could rule out the eurozone breaking up: “According to everything that I know at the moment, yes.”

[More]

See Also:

FTSE 100: Traders stockpile drugs, fags and booze

Hannan: The rats are gnawing at David Cameron’s veto

West: What Lady Thatcher’s ironing board can tell us about David Cameron and the collapse of British society

Ten years on, Europe looks back at the rise and fall of the euro

Miles: Europe’s Dance Of Death

Afternoon Updates:

4:52 pm EST, December 31st, 2011 – Greece may need more than 50-pct haircut, says report

4:54 pm EST, December 31st, 2011 — Merkel predicts challenging year ahead

4:58 pm EST, December 31st, 2011 – Greek bank chief warns against quitting euro

5:00 pm EST, December 31st, 2011 — Steyn: Puncture the cocoon of denial

5:02 pm EST, December 31st, 2011 — Eurozone is closer to break-up, warns Standard Chartered’s Peter Sands