Monday 20 November 2017

Thomas Molloy: We must be prepared for departure from the euro

IT is no longer impossible that we will wake up some frosty morning to be told by a tired and hoarse Enda Kenny that the other eurozone leaders have decided to scrap the euro or eject insolvent countries -- such as Ireland and Italy -- in a last-ditch effort to save the euro.

A few weeks ago, such a scenario seemed far fetched but the Franco-German threat to force Greece to leave the euro has opened a can of worms that will never be closed again -- by making it clear that the euro's largest members now believe membership is optional and reversible. French President Nicolas Sarkozy went a step further this week when he speculated openly about a two-tier eurozone, with some countries effectively pooling financial decision-making.

His comments were followed by a chilling report from Reuters on high-level talks to throw some countries out of the eurozone.

Please sign in or register with for free access to Opinions.

Sign In

Promoted Links

Today's news headlines, directly to your inbox every morning.

Don't Miss