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Future of the euro in grave doubt as Franco-German core crumbles

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Commemoration: French president Francoise Hollande at a second world war memorial event last weekend

Commemoration: French president Francoise Hollande at a second world war memorial event last weekend

Commemoration: French president Francoise Hollande at a second world war memorial event last weekend

How different would things be in Ireland and Europe today if the euro had never come into being? Given the enormity - politically, economically and financially - of sovereign countries sharing a currency it is difficult even to speculate on how the world might look if euro countries had kept their pounds, francs, marks, liras and pesetas. But it can be said with a great deal of certainty that a very significant happening, which took place last weekend, would not have happened.

That happening was the extraordinary public criticism of Germany by a senior minister in the French government. The economy minister, Arnaud Montebourg said this at a Socialist Party meeting: "France is the eurozone's second-biggest economy, the world's fifth-greatest power, and it does not intend to align itself with the excessive obsessions of Germany's conservatives".


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