Less Than 48 Hours to Save the EuroSubmitted by SteveMT on Tue, 11/16/2010 - 17:57
The Euro is in deep trouble, and if the Euro goes, so will the European Union. [See picture of sign at link: "48 Hours to Save the EURO."]
The horrible truth starts to dawn on Europe's leaders
By Ambrose Evans-Pritchard
Last updated: November 16th, 2010
The entire European Project is now at risk of disintegration, with strategic and economic consequences that are very hard to predict.
In a speech this morning, EU President Herman Van Rompuy (poet, and writer of Japanese and Latin verse) warned that if Europe’s leaders mishandle the current crisis and allow the eurozone to break up, they will destroy European Union itself.
“We’re in a survival crisis. We all have to work together in order to survive with the euro zone, because if we don’t survive with the euro zone we will not survive with the European Union,” he said.
Well, well. This theme is all too familiar to readers of The Daily Telegraph, but it comes as something of a shock to hear such a confession after all these years from Europe’s president.