Euro Is ‘Irreversible’, Germany’s Finance Minister Declares

Euro Is ‘Irreversible’, Germany’s Finance Minister Declares

Germany’s Finance Minister Olaf Scholz has declared the euro, the common European currency, to be “irreversible”.

Scholz’s statement has come in the wake of the Meseberg castle agreements earlier this week between German Chancellor Angela Merkel and French President Emmanuel Macron for reforms in the Eurozone, including establishing a common budget and a “European monetary fund”.

The German Finance Minister spoke in an interview for the Rheinische Post, which has questioned the viability of the euro against the backdrop of the rise of populism within the EU, most recently with the formation of Italy’s populist coalition government.

“Yes, the euro is irreversible. It secures our common future in Europe,” Scholz declared when asked if the common European currency would be there in 10 years.

In his words, the Merkel – Macron plan for Eurozone reform hammered out during the Meseberg Castle meeting on June 19 is going to protect the euro from future crises.

“With the Meseberg agreements we are further building the house of Europe,” Germany’s Finance Minister said.

“It contains a sealed roof that withstands future storms and rainy days. We have a new momentum in Europe and this is thanks to President Macron,” he added.

Earlier in June, European Central Bank Governor Mario Draghi made similarly upbeat comments on the euro with respect to the perceptions of a growing anti-euro sentiment in Italy.

“The euro is the currency of 340 million people and enjoys now the support of 74% of citizens across the euro area. And more countries want to join the euro today,” Draghi stated following a meeting of the Governing Council of the ECB in Riga on June 14.

“You can draw your own conclusions, but one of these conclusions is that the euro is irreversible because it is strong, because people want it and because it is of no benefit to anybody to discuss its existence,” the ECB Chief declared, as cited by EurActiv.

(Banner image: Pixabay)

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