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Euro Has Limited the Impact of Financial Crisis on Monetary Union, Says ECB's Stark |
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European Economy |
Written by CEP News |
Jan 05 09 09:49 GMT |
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(CEP News) Frankfurt - European Central Bank member Jürgen Stark called the euro a success and said that the currency has limited the impact of the ongoing financial impact on the countries within the monetary union.
"The euro has saved us in the euro area from worse economic consequences," Stark said in an interview with German radio station RBB Broadcast on Jan. 3, adding that the currency has prevented "considerable tensions" that would have been experienced between European currencies and governments prior to the euro's inception 10 years ago. Written by CEP News European Staff in Frankfurt,
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, edited by Nancy Girgis,
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